Transcript DL Reconciliation and Peoplesoft - National Direct Student Loan
M.E.G Calabrese University of Minnesota – Twin Cities
M.E.G. Calabrese [email protected]
University of Minnesota – Twin Cities 15 years experience in Direct Lending Approximately
$3 BILLION
in Direct Loans disbursed since 95-96. And all reconciled to $0 balances.
It’s a Journey, not a destination…
Do not fear it; it’s not that bad.
Work your origination rejects.
Work your change rejects.
Work your disbursement rejects.
Find a method that works for your school, your system and you.
Keep on top of it.
Get your SAS (School Account Statement) as a fixed length report and retrieve from your SAIG mailbox.
SAS’s are generated the first of the month.
Download the files using the FA inbound process.
Enter your cash draws from G5 into “Manage DL Cash Transactions” page.
Reconcile your cash activity.
Run the “Generate Reconciliation Report” under ◦ ◦ the DL School Account Summary menu.
Identifies loans that exist in your system but not at COD Reconcile cash draws Loans or cash transactions that do NOT match show on report. Work these.
◦ ◦ Realize that sometimes timing is an issue and that on the next month’s report there won’t be an issue.
If not timing, disbursement or change record not yet accepted at COD. Fix what is wrong.
Keep a copy of the PDF generated for auditors to show you’re doing monthly reconciliation.
Process at U of M: ◦ Load SAS into Access database.
◦ Load PeopleSoft query info into that ◦ database.
Use compare to find loans that do not match up (dollar amounts are off).
◦ Fix those loans as needed.
Helpful queries: ◦ Loans on hold (run daily) ◦ Unbooked loans (run weekly) ◦ Failed origination (run daily)