P-card Reconciliation Cecilia McClay Procurement

Transcript:P-card Reconciliation Cecilia McClay Procurement:
P-card Reconciliation Cecilia McClay Procurement Services www.bc.edu/pcard BOSTON COLLEGE Class Purpose To explain the University requirements for p-card reconciliation and the different responsibilities of: Cardholders Departmental P-card Administrators (or P-2) Service Centers The P-1 Responsibilities P-1 Must assign the Departmental P-Card Administrator Is aware of all p-card holders in the department/s. Must run a report annually listing all current cardholders Must take responsibility of a card when an employee leaves or is on medical leave until it is deactivated on PeopleSoft Take the role as Departmental P-Card Administrator for smaller departments or departments without administrators. Provide administrative support to departments by creating requisitions, p-card applications, p-card troubleshooting, budget transfers, etc Service Centers Responsibilities Purchase goods for the department : must be familiar with what is allowed and what is not allowed on p-card as well as provide non-contracted suppliers with the tax exempt certificate. (available at: bc.edu/tax) Should be using BC’s contracted suppliers whenever possible. Pull his/her statement on a monthly basis Match statements to receipts Maintain the documentation for Internal Audit. (best practice: scan receipts along with the statement and put into a secured server) Monitor his/her p-card activity on a regular basis. Inform the P-2 of any missing receipts and document it. Turn in his/her card on the last day of employment Cardholder Departmental P-Card Administrator Responsibilities Reviewing policies and fund requests with cardholder Ensuring that best practices are used whenever possible for small dollar invoices (under 5000.00), encouraging the use of p-card and its value to the University by saving on transactional costs, and limiting the amount of small dollar vouchers, purchase orders and reimbursements where allowable. Creating departmental accounts for p-card and cardholders using PeopleSoft P- card screens Determining and setting individual limits as determined by the department and University standards Maintaining and updating cardholder information Updating cardholders of any policy or other changes affecting p-card use. Troubleshooting issues within the department Departmental P-Card Administrator Responsibilities Deactivating p-cards for employees who have left the University, have moved to another department, or should no longer have access to the applicable chart string. Maintaining adequate budgets in the p-card accounts, including monitoring P-cards for low budget. Making or requesting budget transfers. Reconciling of cardholder statements to PeopleSoft accounts. Reviewing transactions for compliance with University as well as restricted funds policies and procedures and ensuring cardholders are familiar with the restrictions Identifying possible fraud issues. Reviewing cardholders policies for