How to Reconcile UMarket

How to Reconcile UMarket


Follow the steps below to locate the funds received through the UMarket system:
  • Reconcile your UMarket transactions daily.
  • Log into the Campus Information System (CIS).
  • Scroll down to “Financial & Business Services”.
  • Under the sub-category of “TRANSACTION DETAIL SEARCH”, click on “WFG Credit Card Detail ”.
  • You will see your account(s) listed on the top of the page. Select the account from the drop down list (if you have more than one), and enter in the date range you wish to look at and click “submit”.
  • All the transactions and their detail information will appear.
  • Match the transactions with the orders in the UMarket Order/Receipt Database.

What is the WFG Credit Card Detail?

The WFG Credit Card Detail is the file of transactions settled by our payment card processor.  If the transactions appear in this report, the University has received the funds from the cardholder.

What if there are orders that say “pending” in UMarket?

  • If you allow customers to pay by check, their payments will show pending.  These transactions will NOT appear in the WFG Credit Card Detail.  When you receive the check, you can change the status of the order in the UMarket Order/Receipt Database to “paid in full” for tracking purposes.   The customer will automatically receive a payment confirmation email.
  • Sometimes there is user error by the customers, or the payment doesn’t get recorded in UMarket.  To see if the transaction was approved, look at the WFG Credit Card Detail in CIS.  If the transaction is listed there, you can change the status of the pending order to “Paid in Full”.  The customer will automatically receive a payment confirmation email.
  • If the transaction does NOT appear in the WFG Credit Card Detail and they have not selected “Pay by Check”, instruct the customer to try their transaction again.

What if I still can’t find a deposit or transaction?

Call Income Accounting at 585-5686 for assistance.

Can I use the Management Report from my chartfield activity to reconcile?

YES.

Can I use the emails I receive from UMarket to reconcile?

It’s not recommended. The emails are for informational purposes and not everyone will receive them depending on how your account is set up. Also, you will receive more detail and information off the UMarket Order/Receipt Database or through CIS.

If I change the order status in the UMarket Order/Receipt Database to “returned” or “cancelled”, will the cardholder get the refund?

No!  The UMarket Order/Receipt Database is only a database.  To issue a refund, you must make a request to Income Accounting & Student Loan Services, who will process the refund for you.  The refund will appear on the WFG Credit Card Detail in CIS after it is processed.  Then you can change the status for your information in the UMarket database.  Also, no email is sent to the customer if you change the status to “returned” or “cancelled”.

What if we only use our UMarket account once a year?

No problem. Your account will remain active for the next time you need to use it. No reconciliation during your down time is necessary.