Reconciling Procurement Card Activity

Timeframe for Reconciliation

• The reconciler and approvers must have the transactions verified and approved by the 10th of the month following the activity.
• Transactions not verified and approved by the 10th of the month following the activity will be forced reconciled and posted to the default ChartField assigned to the procurement card.
• Departments are responsible to process a Journal entry to transfer the charges from the default ChartField to the appropriate ChartField.

Reconciler Role (can be cardholder)

• Access financial system to review procurement card transactions (Purchasing > Procurement Cards > Reconcile > Reconcile Statement).
• Compare receipts to transactions.
• Add justification in "Comments Field" for each transaction.
• Provide appropriate ChartField information for each transaction.
• If a charge appears to be invalid or is not recognizable, go to the dispute process*.
  • On the statement, indicate in the justification (comments field) that the transaction is being disputed. The options are to leave the transaction in the pcard default ChartField account or to apply it to another ChartField.
• Update transaction "Status" to Verify (transaction is now available for approval).
• Print the Purchase Detail Report.
• Attach original itemized receipt(s) to the report (Tape receipts to a separate 8 ½ by 11 sheet of paper).
• Provide certification signature by one of three methods:
  • Sign receipt again, after adding justification.
  • Sign the printed Purchase Detail Report.
  • Provide an electronic signature as the reconciler of the purchasing card transactions.
• Forward the Purchase Detail Report and receipts to approver(s).
• Notify approver(s) of verified transaction awaiting approval.

Department Approver (cannot be the cardholder) does one of the following:

• Approves the statement. Statements may not be denied.
• Re-stages the statement and notifies the reconciler of changes to make.
• Edits/corrects the statement and approves it.

Certified approver (cannot be the cardholder) does one of the following:

• Approves the statement and notifies the department approver for final approval.
• Re-stages the statement and notifies the reconciler of changes to make.
• Edits/corrects the statement, approves it, and notifies the department approver for final approval.

Final approver sends report and receipts to Disbursement Services for imaging.