When purchases post to the P-Card system the Procurement Card Approver has 9-14 business days to approve the transactions online before they sweep to the general ledger or Oracle Grants Accounting (OGA). It is strongly recommended that P-Card transactions be reviewed online at least twice per week. Do not wait until a Friday to approve transactions since that leaves little time to research purchases you may have questions about.
P-Card transactions should be approved online before they post to the general ledger (GL) or the grant system (OGA) rather than having to make a correction after it posts.
Our goal is to be able to document that the financial control of review and approval is taking place online in the P-Card system. The reduction in the number of journal entries to correct or reallocate the chart strings will also provide evidence to our financial auditors that the review and approval process can be relied upon for control purposes.
Last Updated: 5/19/10