Activity: P-Card Reconciliation and Accounting Financial Policy: N/A Related Policies: IU Institutional Purchasing Policies http://www.indiana.edu/~purchase/policies/policy_list.html Other Relevant Policies http://www.indiana.edu/~policies Additional Forms: N/A Things to Know:
An FIS PCDO document will be generated, listing each day's transactions for each procurement card. Each transaction will charge the default object code 4190 (you may select a different default object code but you cannot use 5000, 4200 or 5055) and the default account assigned to the card. The PCDO will be routed to the account manager (or assigned delegate) of the default account assigned to the card. The account manager's responsibilities include the following: • Verify each transaction against the original receipt
• Review purchase for adherence to IU policy • Change object code from 4190 to one that accurately reflects the charge incurred. • Make account redistribution decision and change as needed • Verify object code for accuracy - 4190 must be changed The PCDO document will follow organizational routing already established, but will not route to C&G if the charge should be redistributed to a C&G account. C&G charges will be reviewed after the fact, and if it is later determined that the charge does not comply with the provisions of the contract or grant, the account manager will be expected to reimburse the account.
Disputes or discrepancies regarding payments are processed in GENetservice: https://www.genetservice.com/GE_Commercial/Login.do These types of disputes are not handled by disapproving the PCDO document in the FIS. Once the discrepancy is resolved in GENetservice, then a negative PCDO document will appear in the FIS at a later date.
Payment to the GE Capital will be made from a consolidated IU statement sent to FMS. Cardholders be sent a monthly P-Card statement for reconciliation purposes.
One of the requirements of the procurement card program is that you must submit monthly P-Card statements with original itemized receipts to your campus accounting office on a timely basis. It must be received by the 10th of the following month. Failure to comply with this policy may cause your card privileges to be rescinded.
If there is one statement over 90 days or there are three or more statements for any one individual cardholder that meet any of the following criteria, card privileges will be temporarily suspended:
• Statement has not yet been forwarded to your campus accounting office
• Statements lack acceptable supporting documentation • Statements have any other unresolved problems, such as: a) Indiana sales tax charges not refunded b) Unallowable purchases cannot be reimbursed c) Unapproved hospitality purchases made on card Card suspension means that you will be unable to use your card to make any purchases until the outstanding problems have been resolved and card privileges have been re-instated.
Repeated occurrences of card suspension may be cause for permanent card cancellation.
If you have any questions about what constitutes an allowable charge or acceptable supporting documentation, please feel free to contact your Campus P-Card Manager: http://www.indiana.edu/~purchase/pcard/pcard.html
If the IU account number that you have designated for your card should change or expire, it is your responsibility to inform your IU P-Card Manager, in writing, of the change and the effective date.
See IU Purchasing Newsletters http://www.indiana.edu/~purchase/newsletter/list.html
