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 for the current fiscal year plus three (3) preceding years according to official University Record Retention Guidelines.
Online electronic approval, supporting documentation (receipts, Food Justification Forms, etc.) must be received in the Coordinator’s office by the 20th of the month. If the 20th falls on a weekend or a holiday, documentation must be received by the preceding business day. Documentation received after the deadline will result in an automatic 30 day suspension for the first offense.
How to submit monthly documentation when you have used your PCard:
- The Cardholder will reconcile the statement electronically using Global Card Management System (GCMS).
- The Cardholder will make detailed entries into the Transaction Summary through GCMS showing a detailed description (be specific), account number and the object code to which the charges apply.
- The Cardholder will forward the Supporting Documentation (receipts, Food Justification forms, etc.) to Procurement & Contract Services in one of these ways:
- email to email@example.com – you must send information from a TWU email address
- Upload your receipts directly into the GCMS website (instructions here)
Supporting Documentation includes:
- Detailed sales receipts (debit or credit) in same order of Expense Report. Slips and receipts must be taped (no staples) to 8 ½” x 11” sheets for scanning purposes. Long receipts need to be cut and taped. Tape should not be applied over merchant’s name or dollar amount.
- Credit card slips with itemized purchases
- Tear sheets for advertisements (copy of ad showing the date it ran or was published)
- Food Purchase Justification form
- Statement of business purpose if charges were made for a meeting, social event, registration or food (MUST include the 5 Ws – Who? What? Where? When? Why?)
- Any Missing Document or Credit Confirmation Forms
Examples of appropriately Specific Descriptions:
|Book||Microsoft Excel Manual|
|Office Supplies||Glue, erasers, folders|
|Food||Completed Food Justification Form|
|Lab Supplies||Latex gloves. hemostats|
Page last updated 2:28 PM, May 6, 2019