PROCEDURE CR2077 - THE PAYMENT CLEARINGHOUSE
Systems and Procedures
A Division of The Corporate Controller's Office
IN

Procedure CR2077 - The Payment Clearinghouse

Office of the Corporate Controller

Policy Steward facilitating procedure: The Associate Vice President for Finance and Corporate Controller

Table of Contents:


GENERAL:

The Payment Clearinghouse (PCH) is a repository for authorized users to record information regarding expected electronic payments (ACH, Wire, and EFT) and to search and record payments that have been misdirected to an area other than that which was intended. Individuals interested in participating are required to read this document to gain knowledge about PCH's functionality prior to using it.

The three major functions of the Payment Clearinghouse are as follows:

Participating users will receive automatic email notifications of newly found payment postings.
     NOTE : This procedure does NOT cover credit card payments. For credit card payment processing, refer to Policy FN07, Electronic Payments-Credit Cards and the PSU Merchant Management Website .

The Payment Clearinghouse is located online at https://app.fis.psu.edu/pch

The following documents the process by which unidentified payments and expected electronic payments are to be handled via the Payment Clearinghouse system.

PROCEDURE:

DEPOSITING MISDIRECTED PAYMENTS

When a department has erroneously received a payment, all efforts should be made to locate the correct recipient. If these attempts are unsuccessful, the individual receiving the payment will deposit the check or record the wire transfer (as applicable) by preparing a Report of Cash Receipts ( ROCR ), debiting the appropriate bank account and crediting the Surplus & Deficiency account (0758). In accordance with Policy FN01 - Processing Cash Revenues, all monies received by any department or area of the University must be deposited as quickly as possible and reported in a timely manner.

Because of separation of responsibilities concerns, if the payment was posted by individuals within the Financial Reporting department, Accounting Operations will process the ROCR on their behalf.

REQUESTING ACCESS TO THE PAYMENT CLEARINGHOUSE

The recommended users of the Payment Clearinghouse are those individuals who are responsible for maintaining accounts receivable systems and those individuals and areas that routinely receive electronic payments. Access to the Payment Clearinghouse is coordinated through an area's Financial Officer or designee. The Financial Officer or designee must contact the PCH Administrator to add authorized user.

ACCESSING PAYMENT CLEARINGHOUSE

In order to access the Payment Clearinghouse application, the user must first log into their "Web Access" account with valid credentials. Upon successful web access authentication, you will be directed to the home page of the Payment Clearinghouse application.

REPORTING AND CLAIMING MISDIRECTED PAYMENTS

To Post a Payment That Does Not Belong to You

Deposit the misdirect payment and prepare a ROCR to record the payment in accordance with the instructions in Depositing Misdirect Payments (see above).

From the Payment Clearinghouse main page, select the Misdirected Payments function and choose "Add New".

Image of Misdirected Payments Section Menu Tabs

A form will appear that will allow the user to post the appropriate information regarding the payment. Fill out the required form fields OR click "reset" to clear all form fields.

Image of Add Misdirected Payment Form

Once submitted (by clicking the "Add" button), the payment will be added to the list of unidentified payments appearing under the View/Edit function. If the record has been added successfully, a message will be displayed notifying the user. The system will also automatically generate email messages to alert each Payment Clearinghouse subscriber of the posting.

To view all Misdirected Payments

If you wish to view the list of current misdirected payments, select the "View Unclaimed" option from the "View/Claim Payments" section

Image of View / Claim Payments Section Menu Tabs

A list of all current misdirected payments within the PCH database will be displayed on the screen.

To view "Your" Misdirected Payments

If you wish to view the current list of misdirected payments that YOU have previously entered, select the "View/Edit" option from the Misdirected Payments section.

Image of Misdirected Payments Section Menu Tabs

To edit "Your" previously entered Misdirected Payments

If you wish to edit a misdirected payment that you previously entered, select the "view/edit" option. Your list of previously entered payments will then be displayed on the screen.

A Preview Image of an Entered Payment

Click the "View Details" button on the desired record row and all information pertaining to this record will display.

Scroll to the bottom of the page and select "Edit."

Image of 'Claim' User Menu Button

Update the desired form fields and the "Edit Unclaimed Payment" form and click "Update." The database will now reflect the changes.

To Browse Misdirected Payments List and/or Claim a Payment

Users can view the list of unidentified payments that have been posted by others by selecting the "View/Claim Payments" function on the Payment Clearinghouse main page and selecting "View Unclaimed".

Image of View / Claim Payments Section Menu Tabs

A list of all current misdirected payments within the PCH database will be displayed on the screen. Select "View Details" on the desired record row and all information pertaining to this record will display.

A Preview Image of an Entered Payment

Scroll down towards the bottom of the page and select "Claim"

Image of 'Claim' User Menu Button

The claim form will automatically pre-populate with YOUR user information. If you are claiming this payment on behalf of someone else, update the form fields to reflect their information. Supply a value for the "IBIS" form number and click "claim." The record will now be archived within the database.

To Correct Erroneous Claims

Accounting Operations has the means to "unclaim" a payment which was erroneously claimed via "administrative" access to the system. To correct such an error, contact Accounting Operations.

If no accounting entries have yet been made, contact Accounting Operations and the original entry will be re-entered. If accounting entries have been made, the department must give Accounting Operations advance notice (via phone or email), then process a Journal Voucher ( JVDP ) to do a reversing entry (a copy ["COP" in IBIS] of the JVDP forwarded to Accounting Operations).

POSTING AND EDITING EXPECTED ELECTRONIC PAYMENTS

The Payment Clearinghouse also allows an area to post information regarding an electronic payment they are expecting to receive. This will be monitored by Financial Reporting.

Adding an Expected EFT Payment

From the Payment Clearinghouse main page, use the "Add New" function within the Expected EFT Payments section.

Image of Expected Payments Section Menu Tabs

A form will appear that will allow the user to post the appropriate information regarding the expected transfer.

Image of Add Misdirected Payment Form

When the form is completed, the user will click the "Add" button to record the expected payment. If the record has been added successfully, a message will be displayed notifying the user.

To view and edit "Your" Expecting EFT Payments

Choose the "View/Edit" function if changes need to be made after their initial posting. To delete the item, select the "Delete" button. Select the "Edit" button to make changes. The previously-entered information will be displayed and can be changed as desired. (Note: Only the User who created the record will be able to edit the entry). Once revised, select the "Update" button to record the edits made.

Financial Reporting has, via "administrative" access to the system, the means to edit an entry if the User who created the form isn't available. Contact Financial Reporting if this situation occurs.

Any electronic payment with an expected date beyond one year will be removed from the system automatically.

Delete an Expecting EFT (General User Access)

If your user role is defined as "General" you have the ability to delete records that YOU previously entered. Select the "View/Edit" option.

Image of Expected Payments Section Menu Tabs

Your list of previously entered payments will then be displayed on the screen. Click "View Details" on the desired record row.

A Preview Image of an Entered Payment

All information pertaining to this record will now be displayed. Scroll towards the bottom of the page and select "Delete"

Image of 'Delete' User Menu Button

Confirm deletion by selecting "OK" from the pop-up dialog box. The record is now removed from your list. This record can now only be referenced by an administrator.

USER ACCOUNT INFORMATION

To view "your" user information

To view "your" user information, select the "User Info" navigation button located at the top of the Payment Clearinghouse home page.

Image of Main Navigation

Your user account information will be displayed on the screen.

Update Email Preferences

To subscribe or unsubscribe from PCH email notifications, select the "Modify Preference" option

Image of User Information Section

Select the desired preference on the form as picture below:

Image of Modify User Email Preferences Form

Click "Update Preferences" to save your preferences and the system will update your status.

Send PCH Support Email

If you wish to send a support email to PCH administration, click the "Contact" tab on the navigation pane

Image of Main Navigation

Provide a subject description, enter a message within the provided text area, and click "submit."

AUDIT COORDINATION - FINANCIAL AND PROCEDURAL

The Financial Officer is responsible for ensuring that procedures pertaining to the accountability and safeguarding of all cash receipts, cash funds, and other assets are established and followed in accordance with approved University policies and procedures. Regular audits relating to advances, cash, travel, equipment accountability, and other expenditures provide a means to protect University assets. The Financial Officer is responsible for working with Internal Audit when audits are being performed in the administrative area, as well as performing an annual audit that is submitted to the Assistant Controller.

RECORD RETENTION, DISPOSITION AND DESTRUCTION:

Record retention must be managed in accordance with Policy AD35 - University Archives and Records Management , and records schedules approved by the Records Management Advisory Committee, Office of General Counsel, and Office of the President. These retention requirements are the University's retention criteria, either derived or based upon federal, state, and local statute or regulations, industry standards, and business needs. Retention beyond recommended time periods require justifiable reasons and warrant review by the Records Management Officer or designee. All documents must be maintained in such a manner so as to provide ease of access for review, and to provide a suitable audit trail for all transactions.

Upon expiration of a stated period of time, documents must be discarded and/or destroyed, unless permission is granted by Records Management Officer or designee to retain the records. Archival records created more than 20 years prior to the current date must be reviewed before destruction. Units should also contact the University Archivist before discarding any document which may be of permanent or historical value to the University. To safeguard the privacy of individuals, documents that contain salary information, personally identifiable information (PII), or student records must also be shredded. See Policy AD53 - Privacy Policy and AD22 - Health Insurance Portability and Accountability Act for additional information regarding privacy and the protection of an individual's personal information. For documents that must be shredded, departments may arrange for Blue Bag service by contacting the Blue/White Shredding Program of the Office of Physical Plant. Exceptions to the practice are as follows:

Additional questions may be directed to the University Archivist or the Records Management Officer.

EXHIBITS:

No associated exhibits

CROSS REFERENCES:


Procedure Status:

Date Approved: 1/24/2018

Most recent changes:

Revision History (and effective dates:)