Transact Payment System

The main objective is to provide superior reporting capabilities, as well as potential cost savings. Additionally, another driver for the transition was that Transact is a WD partner, whereas TouchNet was not. At the time, WD integrations were not on the TouchNet roadmap, and did not appear to be any traction during the conversations. On the other hand, Transact had customers utilizing their product with WD (FAU can seamlessly transition to WD Student) and facilitate payment for invoices generated through the WD Customer Billing Module.

At this time there is no action needed by the current TouchNet FAU departmental users. Central OIT and the Controller’s Office will be reaching out to you over the next several months to inquire on your current TouchNet set-up/processes, but please be assured there is no action or change occurring at present and you will be notified in advance of future changes and implementation timeline including go-live date.

Please be assured that the FAU Transact/CashNet team is assessing all set-up and process flow TouchNet activities and will thoroughly test and provide guidance on how the two systems differ and what changes to expect in the coming months. This implementation will be as smooth as possible for the community users.

If you have not been contacted by the Transact/CashNet team, you do not need to allocate departmental time to assist in this implementation process at this time. Several departments have been selected for their MarketPlace store characteristics so that a thorough understanding of the current set-up and process flow can be ascertained. The FAU Transact/CashNet team will reach out to you with another announcement(s) when any action is needed by the FAU community TouchNet users.

This WebFocus report was developed as an answer to the fact that in TouchNet Marketplace departmental contacts had no way to reconcile marketplace order numbers to Workday journal entries. This was a significant problem in the TouchNet Marketplace environment. A lump sum journal amount was posted to Workday per SmartTag with no detail. As such, there was no way to tie back the order number and amount to the journal entry as proof to audit that the order revenue was booked to Workday’s general ledger. The daily report was a solution to this problem, since in the daily report we could itemize transactions processed the day before which should have been part of the daily journal entry. The Transact system resolved this issue. In the Transact system, postings flow over to Workday with the unique transaction ID in the memo field of the journal entry line. The result is that this, or any such report, would no longer be a need. Departmental contacts can now simply run the reports out of Transact and match to the JE memo line. Please see PowerPoint for tips and how to accomplish reconciliation reporting.