Procedure
This procedure explains the process of P-Card reconciliation. It details the process for online charges and the duties of the Accountholder or Group Proxy Reconciler.
Forms and Instructions
Reconciling/Reallocating Charges Online - Overview
The University has developed a process that allows P-Card charges to be reconciled and/or reallocated to other accounts in Bank of America Works.
- Charges are available to reconcile after the supplier submits the charge and the bank receives and processes the data. This normally takes one to three business days. Note: Line item detail will be provided for Level 3 merchants only. Line item detail cannot be changed by the Accountholder or Approver.
- Reallocation of charges is necessary unless the Accountholder or Group Proxy Reconciler chooses to have the transaction charged to the default account.
- Transactions which have been fully approved in WORKS will post in ConnectCarlina the following business day.
- Outstanding transactions which have not been approved by the 20th of the month following the end of the billing cycle, will be posted to the Department Default account. Any charfield string changes after that time will require a correcting journal entry.
Specific Duties of Approver
When approving P-Card charges, the Group Approver must review the transaction to endure compliance with P-Card policy and State budget rules (such as not charging items to the card that are not allowable under State fund guidelines).
The Group Approver challenges or approves each transaction and confirms allocation is accurate and complete.
If a receipt is not available, the Accountholder must submit a Missing Receipt Affidavit, signed by the Department Head or Business Manager, and load it to the related transaction in Works.
The Group Approver acts as the approval authority for each P-Card purchase. If, as the Group Approver, you do not understand the charge or have reason to believe that the charge is not proper:
- Go to the Accountholder for an explanation.
- Go to the Department Head or Business Manager to verify that the charge was appropriate.
- Go to Purchasing to verify that the charge is within applicable laws and University policies.
- Go to Internal Audit if fraud or abuse is suspected.
The final step of the reconciliation process is approval. Once a transaction is fully approved, no further changes can be made in Works.
If you suspect P-Card Fraud or Abuse, use the Anonymous Report of P-Card Fraud or Abuse Web Form.
Frequently Asked Questions
Q: What can I do if my P-Card is lost or stolen?
A: Call Bank of America at 1-866-500-8262 immediately, and then notify the P-Card Office.
Q: What should I do if I switch departments and need a P-Card for my new department? Should I keep the P-Card from my old department?
A: A P-Card cannot be taken from one department to another. You must close your P-Card at your old department and request a new P-Card for your new department.
Q: How long do I have to dispute a charge (from the date of the transaction posting)?
A: You have 60 days to dispute a charge.
Q: What should I do if my P-Card purchase will exceed the single transaction limit or monthly limit?
A: You will need to submit a request form (P-Card Account Maintenance Form) that is approved by your department to the P-Card Office. The single transaction limit cannot exceed $5,000 and the maximum monthly transaction limit is $50,000.
Related Requirements
University Policies, Standards, and Procedures
Contact Information
Primary Contacts
| Subject |
Contact |
Telephone |
E-Mail |
| P-Card Purchases |
P-Card Office |
|
pcard@unc.edu |
| Suspicious Transactions |
Bank of America fraud department |
1-866-500-8262 |