The Cardholder is responsible for maintaining records of every transaction made with the PCard. These records should be reconciled to the “Credit Card Statement” each billing cycle. Documents must be retained for the current fiscal year plus three (3) preceding years according to official University Record Retention Guidelines.
How to submit monthly documentation when you have used your PCard:
1. The Cardholder will receive the monthly credit card statement, either from JP Morgan Chase or through accessing Smart Data Online (SDOL). Instructions on setting up SDOL access. Instructions for Generating Statement Report.
Card Statement, Transaction Logs and Supporting Documentation MUST be received in the Coordinator’s office by the 20th of the month (if the 20th falls on a weekend, documentation MUST be received by the preceding Friday). Documentation received after the deadline may result in a 30-day suspension.
2. The Cardholder will reconcile the statement with the Transaction Log (totals for each have to BALANCE). The Transaction Log must include the following:
- Cardholder Name and Department
- Statement Date and Last 8 digits of PCard
- Vendor Name
- Description of purchase (BE SPECIFIC)
Examples of appropriately SPECIFIC DESCRIPTIONS on the Transaction Log:
NOT SPECIFIC: Book, Office Supplies, Food, Lab Supplies
SPECIFIC: Microsoft Excel Manual; Glue, Erasers, Folders; Pizza for English Class 4515 on 4/25 (include the 5Ws for object code 7315 - Who? What? When? Where? Why?) - Amount attributed to departmental account numbers
- Total transaction amount
- Comptroller’s object code (Commonly Used Object Codes)
3. The Cardholder will give the Account Manager the statement, Transaction Log and supporting documentation. Supporting documentation includes:
- Detailed sales receipts
- Credit card slips with itemized purchases
- Tear sheets for advertisements
- Statement of business purpose if charges were made for a meeting, social event, registration or food (MUST including the 5 Ws – Who? What? Where? When? Why?)
- Any Missing Document or Credit Confirmation Forms
4. The Account Manager will review the statement, Log and supporting documentation; verify that all of the necessary documentation is present and the Cardholder made each purchase in compliance with the University’s procurement card policies and procedures; and there are sufficient funds in each account to cover all transactions.
5. The Account Manager will sign the Transaction Log and return it and all documentation to the Cardholder.
6. Once the Account Manager has approved the purchases, the Cardholder will forward the statement, Transaction Log and supporting documentation in one of three ways:
- Campus Mail
- Hand delivery
- Scanned and forwarded to pcardlog@twu.edu (You must send information from a TWU email address.)
page last updated 10/9/2008 15:08