Guidelines for the Disbursement of Funds

Guidelines for Reconciling

All cardholders have the option to keep a monthly Payment Card Internal Order Transaction Log for each card. This log should be a record of all orders/purchases placed on the Payment Card. It is the cardholder's responsibility to ensure there is an itemized invoice/receipt for each purchase. Screen prints are acceptable for internet order and order forms for fax/mail orders if a receipt/invoice is not provided by the vendor. Attach itemized invoices, receipts and other supporting documentation to the log. All purchase voucher requirements apply to Payment Card transactions. The log should be filled out as each order/purchase is made, not at the end of the month. The Payment Card Internal Order Transaction Log should be reconciled to the Expense Report from the reallocation software.

Reconciliation is required to be completed prior to the reallocation deadline, which is usually around the 22nd of each month. This reconciliation should reflect that all receipts were on the Expense Report or the Transaction Log. If any receipts were not on the Expense Report or the Transaction Log, or charges that may not have receipts will be reconciling items. This itemization should be accomplished by noting all outstanding charges or by attaching a log of these items. The reconciler must sign and date the Expense Report or Transaction Log to show that the reconcilement has been completed. This reconcilement must be complete prior to forwarding for signatures from the Departmental Approver.

Any discrepancies identified must be promptly investigated with documentation of action taken, recorded as an attachment to the Expense Report or Transactions Log. It is the cardholders/departments responsibility to resolve all discrepancies.

During the reconciliation of the Expense Report or Transaction Log, the reconciler should be aware of potential fraudulent transactions. The fraud indicators in the following section should be considered during the reconciliation process.