Purchasing Card Overview, Part II

  • Transactions are posted on the Feed Date (10 days after the transaction is loaded in Banner).
  • Accounts Payable pays the bank.
  • Bank of America mails a monthly PCard statement directly to the Cardholder.
    • Statements are not generated if there are no transactions.
    • The billing cycle runs from the 6th to the 5th.
  • Cardholder compares monthly PCard statement with the Transaction Log and Banner.
    • Each Cardholder will receive a monthly billing statement from the bank. Upon receipt of the billing statement, the Cardholder will reconcile the:
      • Billing statement
      • Transaction Log(s)
      • Original packing slips, paid invoices, or register receipts
      Any discrepancies should be noted and if unresolved within or by the department, or directly with the vendor, a Cardholder Statement of Disputed Item is sent to the Purchasing Card Administrator. Instructions for disputed transactions can be found in the Disputed Transactions section of this procedure.
    • The Cardholder will file the reconciled statement, Transaction Log(s), and packing slips by monthly billing cycle. The Cardholder will forward the files by billing cycle to the Purchasing Card Administrator within 30 days of the billing cycle.
    • Accounts Payable will receive a monthly corporate billing statement that will list activity for all Cardholders. The Cardholder will not send their billing statement to Accounts Payable.
  • Purchasing Card purchases flowchart

PREVIOUS NEXT