Step by Step
Obtain Reconciliation Documentation from Cardholder
At the end of the billing cycle, collect the completed reconciliation documentation from your cardholder P-Card Statement Cycle Dates. Reconciliation should be completed by both the cardholder and reviewer by the closing date of the following month’s billing cycle. Do not sign off on transactions in Works until you receive a cardholder’s completed reconciliation and have verified that the transactions are valid business expenses that comply with VCU policies and procedures.
Log into Bank of America Works
After receiving a cardholder’s reconciliation, log into the Bank of America Works system.
Locate Item(s) to Be Approved
Transactions requiring sign-off can be found by clicking the Pending link under the Actions Items section on the Works 4 home page. Once you have located the transaction click the plus (+) sign next to transactions to show greater transaction detail at the bottom of the screen. If supporting documentation includes item(s) that are not in Works, then it means that the cardholder has yet to sign off on the transaction(s).
Review the Purchases for Compliance
Ensure that the cardholder has not split purchases to circumvent the single transaction limit and limits are not exceeded. Confirm that merchandise purchased with the card has been received and has not been returned for store credit. Confirm state sales tax has not been paid or have the cardholder contact the vendor for a refund and document the reconciliation accordingly. Report all noncompliance to program administrator.
Verify that Amounts Match
Carefully review the system generated Department Transaction Report , cardholder(s) supporting documentation to verify that amounts match, all transactions are accounted for, validate receipts are original receipts and vigorously question any receipt which does not appear in all respects to be an original receipt. If the electronic transaction is not consistent with the documentation included in the cardholder’s reconciliation, click the gold Raise Flag button to return the transaction to the cardholder for further documentation.
Sign off on Transaction
Click the Sign Off button, located in the bottom right corner of the screen, to sign off on the transaction and replenish the cardholder’s funds. Please note that a cardholder’s monthly credit limit will not replenish for transactions not fully signed off on by both the cardholder and reviewer. Understand the reviewer's "approval" of the requisition package means the reviewer has seen the items and can verify receipt. If the reviewer did not see the items, then supporting documentation, such as an email from someone other than the cardholder, must be obtained.
Retain all P-Card File Documentation After Approval
Departments are authorized to image/scan P-card transaction documentation (e.g., receipts, packing slips, etc.) for record retention purposes. The P-card reviewer is responsible for ensuring the imaged documents are clearly legible and not altered. Provided the imaged documentation is legible and not altered, the original paper documentation may be destroyed. Departments still have the option of retaining paper supporting documentation if desired. Additionally, the P-card reviewer must ensure that the cardholder has no access to destroy or modify the imaged documentation once it has been scanned. A best practice would be ensuring all electronic images are properly backed up in the event of a hard disc crash.
Imaged documents must be retained for the current fiscal year plus three additional fiscal years. Documentation for purchases made using grant indexes may need to be retained for a longer period, and departments should refer to the specific grant for record retention requirements.
Reconcile the Account in Banner, on as Needed Basis
Reconcile the account in Banner and confirm the charges on the Department Transaction Report approved in Works match the charges in Banner. Keep track of any outstanding items awaiting resolution. This is typically handled by the Fiscal Administrator.