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Effective the week of December 18 - December 24 when purchases post to our
PCard system you will have 9 - 14 business days to approve credit card
transactions on-line before they sweep to the general ledger.
Procurement Services, Administrative Computing Services and the Controller's
Office worked together to bring this change about. All P-Card transactions
should be approved on line before they post to the general ledger (GL) or the
grant system (OGA). The extended period should provide adequate time for PCard
administrators to utilize the on line system and make the appropriate changes
to the GL or PTAEO chart string rather than having to make a correction in 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.
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