Record Keeping and Transaction Reconciliation
The Cardholder is responsible for maintaining records of every transaction made with the PCard. These records should be reconciled to the “PCard Statement” each billing cycle. Documents must be retained by the Cardholder for the current fiscal year plus three (3) preceding years according to official University Record Retention Guidelines.
Online electronic approval and supporting documentation (receipts, vendor hold check, etc.) must be completed in Concur by the 13th of each month. If the 13th falls on a weekend or a holiday, documentation must be completed by the preceding business day. Documentation received after the deadline may result in a 30 day suspension for the first offense.
Reconciling PCard Expenditures
- The billing cycle closes on the 3rd of each month.
- The cardholder will reconcile the statement electronically using Concur.
- For instructions on reconciling your PCard purchases in Concur see Creating a PCard Expense Report.
- The cardholder will make detailed entries into the expense report in Concur.
- If a transaction contains items requiring more than one expense type, split the transaction to account for both expense types.
- The cardholder will upload receipts directly into Concur. Refer to Reconciling a PCard.
- Supporting documentation includes:
- itemized receipts
- packing slips
- vendor hold screenshot, if applicable
- emails of approval from
- Authorized user forms - Department Cards only
- PCard check out logs - Department Cards only
- The Account Approver will electronically approve each transaction online in Concur ensuring the Cardholder made each purchase in compliance with the University’s procurement card procedures; and there are sufficient funds in each account to cover all transactions.
Reconciliation of all transactions must be completed in Concur and all receipts and supporting documentation must be uploaded into Concur by the 13th of each month. If the 13th falls on a weekend or a holiday, the due date becomes the business day before the 13th.
Page last updated 9:20 AM, April 6, 2022