Merchant Account Changes

Each card transaction must be accounted for; however, Merchants will not need to prepare any general ledger journal entries to book payment card transactions as income. All U-M Merchants are set up with an automatic feed into the general ledger (GL). The income will flow into the accounting information/Chartfields that were provided when setting up your Merchant account.  If at any time a Merchant wishes to change their Chartfields, they should complete the Merchant Account Change/Termination form with the appropriate changes.  
(Internet Merchants utilize this Internet Merchant Account Change/Termination form.)

It is the Merchant's responsibility to ensure that the data is correct. It is important to keep the receipts from all transactions and the end of day batch totals for this purpose.Each Merchant will receive monthly statements directly from the University's processing bank, Fifth Third Bank, for reconciliation purposes showing each batch submitted. It is the Merchant's responsibility to verify that this information is correct.

Discontinuing Acceptance of Credit Cards/Closing of the Merchant Account

If at any time a Merchant wishes to change discontinue accepting credit cards and close its merchant account, they should complete the Merchant Account Change/Termination form.

(Internet Merchants utilize this Internet Merchant Account Change/Termination form.)

Please forward appropriate forms to Annette Hartley - Treasurer’s Office, 10051 Wolverine Tower, zip 1283.

Questions? Contact:

Annette Hartley
Card Services
Treasurer’s Office
(734) 615-6123