When purchases post to our PCard system you wil have 9-14 business days to approve credit card transactions on-line before they sweep to the general ledger. It is strongly recommended that PCard transactions be reviewed on-line 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 on-line before they post to the general ledger (GL) or the grant system (OGA) rather than having to make a correction to the GL after it posts.
Our goal is to be able to document that the financial control of review and approval is taking place on line in the PCard 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.
