Top Ten Findings or Questions Related to the PCard

1.  PERFORM RECONCILIATION TIMELY - Reconciliations should be performed within 20 days of the months-end.

2.  DEPARTMENT HEAD SHOULD REVIEW RECONCILIATION MONTHLY - The reconciliation should be reviewed, signed, and dated by both the Reconciler AND the Dean/Director/Chair/VP/President.

3.  REVIEW THE JP MORGAN STATEMENT MONTHLY - The Cardholder should print and review their JP Morgan credit card statement each month. The Reconciler should reconcile the JP Morgan statement to the Banner reconciliation report each month.

4.  AVOID SALES TAX! - If you are charged sales tax in error, make an effort to recover these funds. [Make sure charges from Amazon are sales tax exempt by completing a sales tax exempt form].

5.  DOCUMENT BUSINESS PURPOSE - Make sure the business purpose is clearly documented on the supporting documents if the purpose is not self-evident.

6.  CARDHOLDER AND APPROVER INDICATE APPROVAL ON RECEIPT - Ensure the Cardholder and Approver approval is documented on the PCard supporting documents (either on the receipt, Cardholder Checklist, or sticker - it only has to be documented once).

7.  DO NOT SPLIT TRANSACTIONS - If the purchase will exceed the single swipe or monthly limits, request a temporary override through RouteIt.

8.  OBTAIN ITS APPROVAL - ITS approval of computer purchases should be obtained PRIOR to purchasing IT equipment on the PCard.

9.  RECONCILER MAINTAINS THE PCARD RECORDS - Someone OTHER than the Cardholder should maintain the PCard files after reconciliation.

10.  AVOID AUTO-POSTS - Review the PCard charges regularly in Banner to avoid any Auto-Posts.

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