How to Reconcile Your Credit Card Statement

Before you begin, ensure:

• You have stored all credit card receipts in electronic format on your computer.
  • Scan all receipts into a single PDF document and place the file in a designated file folder, or
  • Copy individual electronic receipts into a designated file folder
    
• The file name for each file is less than 30 characters.
  
• You have confirmed a valid SpeedCode for each transaction.
  
• You have/provide appropriate justification for each expenditure

1. Sign in to PeopleSoft Financials with your CCID and password and create a new Expense Report: Self-Service Center > Travel and Expenses > Create Expense Report
2. Select the ”Credit Card Statement” Template and Click OK on the following page. Note: If you are a delegate you have to change the employee id from your id to the cardholders. This will enable you to see the Credit Card Statement template.
3. Enter the Report Description as “Card Type - Month Year”
   (e.g. P-Card - October 2021)
4. Click the “My Wallet” hyperlink to view outstanding Card transactions.
5. For each line, review the default Expense Type, and if required click on “Expense Type” to change it (the Expense Type assigns the GL Account).
   Important: The Expense Type can only be assigned in the MyWallet page. It cannot be changed after it has been copied to the Expense Report.
6. Click “Select All” or select the lines you want to reconcile and click Done at the bottom of the page to add them to the expense report. Tip: Select all available transactions, there is no requirement to match to the BMO Mastercard billing statement. Note: It is best to create a separate expense report for each budget owner.
7. Click on the *Accounting Defaults link to enter a default SpeedCode for all lines. Once assigned, click OK.
   Tip: To update the Expense Type now, select the line and delete it. Then go back to MyWallet, update the expense type and fetch it again.
8. Review each transaction for accuracy, and if required, update the following line information:
   1. GST amount as per the receipt (if not auto-calculated in the claim).
      If HST was paid on the receipt, ensure only the 5% GST value is entered.
      If no GST was billed, Click the No GST flag
      NOTE: If you flag or unflag the No GST button, you will not see the changes you have made until you click save
   2. Description (Note: The description defaults to the merchant name. Do not delete it. Add additional information below). Add a brief description of the expenses. 254 Character limit.
   3. Expand the Accounting Detail of the line to view the SpeedCode and to update it if required.  
      Tip: To validate SpeedCodes for multiple lines, you can also generate and review the PDF Report (save & click the Print Detailed Report link at the top of the page) 
      
9. Click the Attachments (0) link at the top of the page to upload the receipts file(s). Once complete, click OK.
   For details on how to attach receipts, visit How to Attach Receipts to a Credit Card Statement.
   Note: File names cannot be longer than 30 characters!
10. Click Save for Later (top right hand corner). After saving you may return to the claim later.
11. Click Summary and Submit.
12. Review the Save confirmation agreement and click the checkbox to confirm the claim is accurate and complete, then click Submit Expense Report.
13. View the Expense Report Submit Confirm page and click OK to submit your report.
14. You will see a confirmation message that your report has been submitted successfully.
15. To exit PeopleSoft Financials, click on Actions icon from the top right corner of the browser window.