Lecture

Credit Card Management: Monthly Statement Processing

Graph Chat

Chat with Graph Search

Ask any question about EPFL courses, lectures, exercises, research, news, etc. or try the example questions below.

DISCLAIMER: The Graph Chatbot is not programmed to provide explicit or categorical answers to your questions. Rather, it transforms your questions into API requests that are distributed across the various IT services officially administered by EPFL. Its purpose is solely to collect and recommend relevant references to content that you can explore to help you answer your questions.

Description

This lecture discusses the processing of monthly statements for credit card transactions within the EPFL system. It covers the workflow for invoice approvals, focusing on the Viseca Card Services invoices. The instructor explains how to manage and track invoices, including details such as invoice numbers, amounts, and payment deadlines. The lecture emphasizes the importance of accurate record-keeping and the steps involved in the approval process. Additionally, it highlights the integration of financial data management systems and the role of various stakeholders in ensuring timely payments. The instructor also addresses common issues that may arise during the processing of invoices and provides solutions to streamline the workflow. By the end of the lecture, participants will have a clearer understanding of the procedures involved in managing credit card statements and the significance of maintaining financial accuracy within the institution.

This video is available exclusively on Mediaspace for a restricted audience. Please log in to MediaSpace to access it if you have the necessary permissions.

Watch on Mediaspace

Official source

Related concepts (32)

Credit card

A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges). The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.

Credit card fraud

Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The Payment Card Industry Data Security Standard (PCI DSS) is the data security standard created to help financial institutions process card payments securely and reduce card fraud.

Payment

A payment is the voluntary tender of money or its equivalent or of things of value by one party (such as a person or company) to another in exchange for goods or services provided by them, or to fulfill a legal obligation/philanthropy desire. The party making the payment is commonly called the payer, while the payee is the party receiving the payment. Payments can be effected in a number of ways, for example: the use of money, cheque, or debit, credit, or bank transfers, whether through mobile payment or otherwise the transfer of anything of value, such as stock, or using barter, or personal data, the exchange of one good or service for another.

Payment system

A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, payment instruments such as payment cards, people, rules, procedures, standards, and technologies that make its exchange possible. A common type of payment system, called an operational network, links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment.

Payment terminal

A payment terminal, also known as a point of sale (POS) terminal, credit card machine, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad (called a PINpad) for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization.

Related lectures (58)

Financial Year End Closing: Procedures and Guidelines

Delves into the annual financial year end closing process at EPFL, emphasizing the importance of accurate financial reporting and timely validation of invoices.

Credit Card Management: Monthly Statement Processing

Covers the processing of credit card monthly statements and supplier invoice management.

Financial Accounting Basics

Covers the basics of financial accounting, including the accounting process and types of financial information.

Accounting Fundamentals

Covers the basics of accounting, focusing on ledgers, debit and credit entries, rules, transactions, and inventory management.