Reconciliation
Purchasing Card Statement
All statements are mailed from Bank of America to the individual cardholders on a monthly basis. Each cardholder is responsible for:
Ensuring that a receipt or other acceptable documentation supports each purchase. This includes credit invoices given for returned or damaged items.
State the business purpose on the receipt/invoice to assure that this transaction is validated for official Clayton State University business.
Audits will be conducted for compliance and all other procedures on a regular basis. The paper copy of the statement must be submitted to Procurement Services no later than the 5th of each month. A grace period of five (5) days, after that date, is given to the cardholder. If the cardholder is delinquent in providing paper documentation, the p-card will be suspended.
Failure to have the appropriate supporting documentation or authorization signatures may result in revocation of the card.
WORKS Program Payment Manager is the official web based online site for reconciling expense transactions for the p-card. Each cardholder has access to this program and reconciles their transactions during each cycle (16th of current month through 15th of following month). Each transaction is audited by Procurement Services prior to download into PeopleSoft. Transaction reconciliation must be completed on the last day of each month. A grace period of five (5) days, after that date, is given to the cardholder. If the cardholder does not reconcile their transactions in WORKS by that date, the p-card will be suspended.
Audit Process
Each cardholder transaction is reviewed by the Card Program Coordinator in WORKS on a regular basis for accounting information and compliance. When a purchase is not recognized, the Program Coordinator will contact the cardholder for verification of that purchase. It is required of the cardholder to identify each purchase in WORKS by adding a comment to each transaction.
Once the cardholder submits the signed paper documents to Procurement Services, every cardholder transaction is individually audited for taxes, authorized purchases, state compliance etc. If there are missing supporting documentation, the cardholder is contacted to provide those documents. If taxes have been charged, the cardholder is notified to have the taxes removed.
Reconciliation Instructions
- An activity log or report must accompany each monthly paper copy submission.
- The activity report may be downloaded from WORKS Payment Manager or complete an excel activity log provided from our website.
- Compare the monthly statement with the corresponding copies of the original charge slips retained by the department. ** Total amount of charges must equal total on the VISA statement.**
- A cardholder who has terminated employment prior to the end of a billing cycle and has incurred charges, their former department is responsible for the reconciliation of those charges.
- After the Department Head, Director, Dean, has determined that the appropriate receipts and/or other supporting documentation is accurate, then he/she approves, by signature, the Visa Approval form.
- Forward the signed Visa approval form, original
receipts, original statement and activity
log/report, referred to as the "Visa Packet," to the Visa
Card Administrator by the 5th day of the month or sooner.
If an invoice is not received with your order, request one immediately. Do not wait until the statement has been received to request one. This delays the reconciliation process.
- When reconciling p-card statements having advanced air travel charges, a copy of the airline confirmation showing name of employee or student club member/athlete who is traveling and a copy of the travel request must be included in the "packet."
If the original slip is lost:
- Circle the charge on the statement.
- Complete only for $100 or less. Over $100 must be accompanied by the original invoice.
- Complete a "Lost Receipt Report", signed by the cardholder, identifying the charge, the amount, purchaser and item(s) purchased.
- Submit this receipt for loss invoice with the "Visa Packet."
Retention of Statements & Receipts
Receipts and statements are to be retained for five (5) years after fiscal year end, either in the cardholder’s department or in Archives.