1252.3 - University of North Carolina at Chapel Hill Procedure on Reconciling a Purchasing Card (P-Card)

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 Works.

  1. 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 days.
    Note: Line item detail will be provided for Level 3 merchants only. Line item detail cannot be changed by the Accountholder or Approver.
  2. Reallocation of charges is necessary unless the Accountholder or Group Proxy Reconciler chooses to have the purchased item(s) charged to the default account.
  3. Monthly charges are posted to ConnectCarolina five days following the end of the 30-day billing cycle. Reconciliation must be done on the current cycle up until the posting to ConnectCarolina. Any chartfield string changes after that time will require a campus journal entry.

Specific Duties of Approver

When approving P-Card charges, the Group Approver must follow 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 purchase and confirms allocation of transactions is to the appropriate ConnectCarolina fund source.

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. At this step, the Group Approver's electronic signature is captured to an archive file. The file will be kept for five years.

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 1-888-449-2273 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

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Details

Article ID: 131442
Created
Thu 4/8/21 9:09 PM
Modified
Thu 5/5/22 2:19 PM
Effective Date
If the date on which this document became/becomes enforceable differs from the Origination or Last Revision, this attribute reflects the date on which it is/was enforcable.
08/03/2018 12:00 AM
Issuing Officer
Name of the document Issuing Officer. This is the individual whose organizational authority covers the policy scope and who is primarily responsible for the policy.
Issuing Officer Title
Title of the person who is primarily responsible for issuing this policy.
Travel and Payment Card Services Manager
Last Review
Date on which the most recent document review was completed.
08/03/2018 12:00 AM
Last Revised
Date on which the most recent changes to this document were approved.
08/03/2018 12:00 AM
Origination
Date on which the original version of this document was first made official.
01/01/2000 12:00 AM
Responsible Unit
School, Department, or other organizational unit issuing this document.
F&O-Finance