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Recordkeeping / Reconciliation Requirements

It is a requirement of the University that you keep all receipts for goods and services purchased with the Purchasing Card to facilitate the reconciliation process. As PCard records will be audited from time to time, it is essential to adhere to the recordkeeping guidelines. Receipts Credit card slips Cash register receipts Itemized packing slips Web confirmation forms Completed mail order application/forms Transaction Logs All PCard transactions must be recorded in a PCard Transaction Log (see Forms section).  The log proves useful in keeping track of phone orders and backordered items.  It will also assist in documenting purchases with lost receipts. Your Department may use an abbreviated version of the Transaction Log if some of the columns are inapplicable. If the description is provided in your receipts or logged in the description field of PVS Net, don't repeat the description in your Transaction Log. Responsibilities of the Cardholder Use PCard in accordance with all pertinent policies, procedures and guidelines. Check your budget balances; make certain that purchases do not exceed budgeted funds. Purchases must be in the best interest of the University. Protect and safeguard your Purchasing Card. Report lost or stolen cards immediately to First Hawaiian Bank, phone: 847-4444 (toll-free: 888-844-4444). Contact vendor if unfamiliar transactions show up or if amount differs from that shown on receipt. Ensure that appropriate credits for returns and errors appear on statements. Do NOT accept cash in lieu of credits. Log purchases on Transaction Log or in "description" filed of PVS Net. Check your transactions on PVS Net and make necessary changes to account or object codes. All original receipts, transaction logs, and other documentation should be delivered to your Fiscal Officer by 4:00pm on the 14th of each month. If the 14th falls on a weekend or holiday, the deadline moves up to the previous business day. Responsibilities of the Department Liasion (employee(s) responsible for monitoring cardholder transactions and proper accounting of the PCard, usually the Fiscal Officer) Verify the accuracy and appropriateness of the charges. Verify that PCard transactions are supported by adequate documentation. Ensure availability of funds for PCard transactions. Print PVS Net statement for each Cardholder, review transactions and make necessary corrections. Make sure that valid and active account and object codes are assigned to each transaction. Your review must be completed by 4:00pm on the 20th of each month. If the 20th falls on a weekend or holiday, the deadline moves up to the previous business day. Reconcile PVS Net statement to First Hawaiian Bank statement. Reconcile First Hawaiian Bank statement to FMIS reports. Initiate journal vouchers to correct errors on FMIS. Notify Approving Official of questionable purchases or purchases/reallocation that violate rules, regulations, or guidelines. File and retain PCard records in Fiscal Office. Responsibilities of the Approving Official (Vice President, Chancellor, Dean, Director or Provost) Select individuals within your Department to receive Purchasing Cards and determine their level of purchasing. Designate Department Liasion. Establish processes within the Department to support the Purchasing Card Program. Take appropriate disciplinary measures with Cardholders who inappropriately or fraudulently use their PCards.