Online Shop Sales and Agresso General Ledger
The finance office process for posting online shop sales has been amended to automate the process.
Currently, sales are posted per GL project code around four days after the sale, when the bulk payment is received in the University bank account. A manual reconciliation is conducted as part of that process.
Sales from the online shop will be posted as individual transactions to the ledger the following day to the sale. Any sales after 8pm and at the weekend and over the Easter and Christmas close down periods will be posted on the next working day.
In the unlikely event of a bulk payment received not matching the sales information from the shop, a separate correcting journal will be made back to the income code.
- Departments will now see the sales income in the ledger much sooner, next day.
- Departments will now have much greater clarity of what transactions have been posted including the order number, product code, quantity, name of person and if a refund, the refund reason.
- Cashiers now have an automated process, saving much time in manually processing the sales.
- An in-system automated reconciliation will ensure all sales to bank transactions can be clearly and efficiently matched and reconciled despite the 4 day difference between sales posting and bank posting.
- It will improve the reconciliation of Student Deposits and Tuition Fees taken online and posted to Banner with the Agresso Bank account
The new process is also effective on other online sales that use the ‘Securetrading’ payment gateway, although the information reported on each transaction will be as provided by each system.
- Mindfulness online sales
- Graduation online sales
- Welsh for adults online sales
- Alumni Donations via Smarteezie system
Publication date: 30 April 2015