Cardholder & Approver Goals for FY18
1. Documenting Business Purpose of all expenses should be included in the text box when signing-off on transactions. Whether the expense is for the purchase of airline tickets, conference registration, or meeting supplies, proper justification for the purchase is required. Cardholder's brief, accurate, and complete description of the business purpose should be clear enough so that a person outside the College could read it years from now and have no question about the eligibility of the expense for reimbursement. It is essential that approvers and auditors understand the circumstances under which the purchase was made and why it was necessary.
- Who attended or received the benefit from the expenditure
- What purpose the expenditure served, why the expense was necessary, or how it furthered the College’s goals
- When and where the expense took place.
2. Attaching Receipts proactively is a critical part of the PCard Program and receipts are required for all transactions. Accurate, detailed records of PCard purchases ensure verification and audit of charges for compliance with College policies and Grant requirements.
A receipt may be a(n):
- Cash Register or Sales Receipt
- Registration Form with itemized prices
- Packing List with itemized prices
- Confirmation email for payment
- Completed itemized web or mail order form/confirmation indicating purchase paid with credit card
Receipts must include the following specific information. If the receipt provided does not contain the following, the Cardholder must contact the supplier to obtain a more detailed receipt:
- Unit cost of each item purchased
- Description of each item purchased
- Total cost of purchase
- Supplier name and preferably a supplier address
- Date of purchase
Lost or Missing Receipts:
- Cardholder is responsible for obtaining a duplicate receipt from the supplier
- Excessive lost receipt status may result in suspension of card privileges
- Receipts must be attached for charges against Grants
3. Timely Sign-off is more likely achieved when cardholders check and sign-off transactions in Works on a weekly basis.