Policies and Procedures
Procedure 1252.3 – Reconciling a Purchasing Card (P-Card)
January 1, 2000
October 3, 2013
October 3, 2014
Director of Purchasing Services
This procedure explains the process of P-Card reconciliation. It details the process for online charges and the duties of the reconciler.
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 (Cardholder 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 $25,000.
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.
a. 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 is required to be entered and submitted for an approval, otherwise reconcilers cannot see the transactions under the “approve” tab.
b. Reallocation of charges is necessary unless the reconciler chooses to have the purchased item(s) charged to the default account.
c. 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 Reconciler
The reconciler challenges or approves each purchase and allocates approved charges to the appropriate ConnectCarolina fund source.
If a receipt is not available, the reconciler must have the cardholder submit a Missing Receipt Affidavit, signed by the Department Head or Business Manager. Use the free-form area of the reconciliation page to help in record-keeping of missing receipts.
The reconciler acts as the approval authority for each P-Card purchase. If, as the reconciler, you do not understand the charge or have reason to believe that the charge is not proper:
- Go to the cardholder 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 reconciler’s electronic signature is captured to an archive file. The file will be kept for five years.
- Always check yes to show departmental free-form areas. Use the free-form areas to help your record keeping (you can put such things as a purchaser’s initials or brief description in free-form).
- After you reconcile charges, print the screen and attach it to the receipts to show they were reconciled.
- Don’t allow the vendor to split shipments as this would split the charge and make it hard to match with the orders. If something needs to be back-ordered, make it a separate order.
If you suspect P-Card Fraud or Abuse, use the Anonymous Report of P-Card Fraud or Abuse form.
1252.3.1f - P-Card Missing Receipt Affidavit
1252.3.2f - Statement of Disputed Item
705.1.1f - Tax Exemption Letter to UNC-CH Business Partner
1252.1rd - Purchasing Card Handbook
1252.1.1f – Purchasing Card Application
1252.1.3f – Purchasing Card Violation Warning Form
October 1, 2014: Updated references to ConnectCarolina and fund sources.
January 30, 2013
October 20, 2011