Hello. Seamas Matchett (Supervisor, Accounts Payable) and Izzie Kingsley (P Card Accounting Assistant) here with some tips for reconciling your Procurement card. Procurement cards are also known as Pcards and Purchasing Cards.
We hope that this week’s tip will help clarify
- What original documentation has to be submitted each month, and
- why we require it.
What original documentation has to be submitted each month to reconcile my Pcard?
In addition to reconciling your Pcard in FAST, the following original documentation has to be sent to Accounts Payable each month:
- A printed, signed (i.e. signed by both the card holder and the supervisor) copy of the Pcard statement.
- Original, itemized receipts. ‘Itemized’ means those receipts with the details about what was purchased. Receipts produced by credit card machines do not contain sufficient detail.
What if I am missing a receipt?
A Certificate of Missing Documentation must be printed and filled out for every missing Pcard receipt. A link to the form can be found by following this hyperlink to Pcard FAQs.
Note that while the Certificate of Missing Documentation is used for missing Pcard receipts, it is no longer used for missing Travel and Expense receipts.
How to I make sure that my receipts do not get lost on the way to Accounts Payable?
Staple! Stapling your receipts to your Pcard statement is better than using a paper clip. Paper clips often fall off and receipts are lost before they make it to Accounts Payable. Stapling the receipts by the Carleton logo on the Pcard Statement is ideal.
Wait, why does Accounts Payable need the receipts?
Original, itemized receipts are required to ensure that expenditures are actual and valid and to verify taxes.
How can I find out how to reconcile my Pcard?
- Need Help? The Pcard User Guide has step by step instructions for reconciling your Pcard and other helpful information.
- Need Help? Purchasing Card System training, which covers reconciling transactions, is offered each summer through the FACTS program.