P CARD College of Health and Rehabilitation Sciences: Sargent Internal Policy

Transcription

1 P CARD Cllege f Health and Rehabilitatin Sciences: Sargent Internal Plicy All purchasing card hlders must read the Purchasing Card Prgram Manual (P Card Manual) and cnfirm upn ding s via t the SAM administratr, Kellie Daigle at kkarnis@bu.edu. Be sure t read sectin 3.12 (page 13 in the manual) titled "Prgram Audits"! Carefully abide by the Purchasing Card Prgram Manual. P Card hlders must save all receipts and mnthly statements. If an item/supply is bught nline make sure yu btain prper dcumentatin frm the vendr. Please be diligent in cllecting and rganizing the prper dcumentatin fr each purchase s that the recnciliatin prcesses can be cmpleted quickly and efficiently by the recnciler. All receipts and mnthly statements must be kept safe preferably in a lcked cabinet. Please be sure everything is rganized. All P Card transactin(s) must be reviewed weekly and edited befre the mnthly uplad f transactin data t the General Ledger system. It is imprtant t cmpare sales receipts, packing slips and receiving papers with the individual amunts charged n the P Card statement t check fr accuracy in the billing. Each cardhlder is respnsible fr maintaining and recnciling their P Card statement. All transactins must be recnciled t the General Ledger/Business Link. Please be diligent in yur review, justificatin f these purchases. This prcess is mandatry. Lack f versight/cmpliance will result in card revcatin.

2 P CARD HOLDER RECONCILING TRANSACTION PROCEDURES Each transactin is available n SAM ( access.cm/) fr editing/mapping apprximately 2-3 days after yur P Card purchase. There is n need t wait until the mnthly uplad is near t begin this prcess. Key areas r cncern Review receipt detail fr apprpriate charges Match P Card lg reprt t actual receipt dcumentatin Verify accuracy accunting cdes and item descriptins Ensure the University has nt been charged fr taxes 1. On a weekly basis, the cardhlder is respnsible fr reviewing and editing all f their transactin(s) that have upladed int the SAM system. By reviewing the Sam sftware, prvided by American Express at the SAM website Please nte: SAM is nly supprted by Internet Explrer at this time. D nt lgn thrugh Mzilla Firefx 2. Remember when recnciling yur P Card transactins within SAM: On the transactin detail "Descriptin" and "remarks" sectin, please prvide the business purpse f the expense (if line item descriptins are nt prvided by the vendr thrugh the American Express interface). In the Transactin Summary Recrd screen, pull dwn the Summary Actins drp dwn menu and click n "View/Edit Ntes" t cmplete ntes/descriptins that require in depth explanatin(s) f the business expense. Fr example, a meeting expense wuld require the number and names(s) f the guests attending the meeting, the business purpses and business relatinship f attendees. 3. Recncilers must send the SAM administratr, a cnfirmatin each week stating that the recnciliatin f yur P Card transactin(s) is cmplete. If there are prblems r issues with regard t the recnciliatin prcess yu shuld state thse in the When yu have fully cmpleted yur review/edit fr a transactin and are ready fr the SAM Administratr t review/apprve yur weekly transactins check the View checkbx nly. 5. Cpies f all receipts and statements must be submitted weekly t the SAM administratr fr apprval prir t the mnthly transactin uplad. Nte: All editing perfrmed in SAM must be cmpleted befre the transactin is upladed t the General Ledger. Uplading takes place ne week after the cycle clses n the 8 th f each mnth. If changes are nt made by this time debit/credits t default accunt(s) will have t be adjusted via a jurnal entry. If yur transactins are edited/mapped accrdingly there will be n need t perfrm jurnal entries. If yu fail t edit yur P Card transactins prir t the mnthly uplad the expense will be charged n the G.L./Business Link t the default accunt. Yu must be sure yu make arrangements t reclassify the expense thrugh a jurnal entry if the wrng accunt distributin has been charged

3 RECONCILING NOTES Be sure when editing yur transactins t pay clse attentin t the number f lines that are available fr review and editing. Often multiple lines are available and the additinal lines may nt be visible withut scrlling dwn. If yu have a large number f lines yu may want t take advantage f changing "All Lines" that allw yu t enter a single department r grant number and then all the lines accunt distributin will be changed t this accunt. If yu have a transactin with multiple lines, yu nly need t enter in a descriptin n the first line (unlike the accunt number which must be entered fr every line). T change the accunt distributin fr all lines frm the Transactin Detail sectin f the screen select "Update Accunting Allcatin". A secnd screen will appear. Change the accunt distributin and click save. Be sure that remarks and descriptins entered prvide a gd resurce fr future audit needs: If yu purchase a bk at Barnes and Nble fr example yu shuld include wh the bk was purchased fr as well as the title. If yur P Card is used fr a meeting expense prvide a descriptin f the business purpse as well as wh was in attendance at the meeting. If the purchase was fr lab supplies detail whse lab it was purchased fr. Smetimes the system will pre-ppulate the descriptin field with a part number, but yu shuld still enter in a descriptin r remark that better explains what the purchase was and wh it was fr. Weekly review and editing f yur P Card transactins is the mst efficient way t recncile yur transactins. Weekly review allws the SAM administratr mre time t review the transactins and assist yu with issues that may arise.

4 P CARD HOLDER NOTES The P card cannt be used fr travel expenses (Object cde 0918, 0934 fr ldging, airfare, etc.). This includes registratin fees fr cnferences that invlve travel. Lcal meetings and cnferences (Object cde 0919) nt invlving travel are allwed. D nt use yur P Card fr advertising expenses. The limit fr each P Card transactin is $1,000 and yu shuld nt split a single rder int tw r mre purchases as a way f circumventing individual transactin limits. D nt pay tax t vendrs unless it is fr a meal expense. Keep in mind it may be necessary when away frm the ffice t bring the University ST-2 and ST-5 tax exemptin frms with yu when making purchases. Or, t fax the certificate(s) when in the ffice as requested by vendrs. If yu cannt avid the tax, which can smetimes ccurs with nline purchases, yu shuld request reimbursement frm the vendr as sn as pssible. If an item billed n yur statement is incrrect r there is a prblem, first cntact the supplier t try t reslve the incrrect charge within 30 days f purchase. If yu are unable t reslve the prblem with the supplier then cntact the SAM administratr, Laura Badgett. Yu will receive a cpy f the Object Cde manual in PDF frm t assist yu in making sure the crrect/best bject cde is applied t each transactin. Pages f the Object Cde Manual pertain t whether any purchase is Allwable r Unallwable ("A" vs. "U" n SAM) fr Facilities and Administrative Cst Recvery. Federal accunting guidelines mandate that ur accunting system dente whether an expense is allwed r nt allwed t be charged especially fr federally spnsred prgrams (grants). Generally, unallwable expense f the University cannt be used t calculate what grant verhead rate will be applied n future grants. Such cmmn examples f unallwable expense purchased by the P Card are Cffee and Water that are used fr nrmal departmental use. Cffee r water fr a cnference n the ther hand wuld be allwable. Advertising and any expense related t Develpment are unallwable. Unrestricted (departmental) funds shuld dente whether an expense is allwable r unallwable as well. Supplies fr unrestricted accunts shuld be charged t bject cde Supplies fr restricted accunts ending in -2, -3 and -9 shuld be charged t bject cde Supplies fr restricted accunts ending in -5,-6,-7 and -8 shuld be charged t bject cde Mnthly cycles clse n the 8th (r next business day, if 8th is hliday r weekend). Charges are mapped and upladed t ur G/L system between the 15th and 18th f each mnth.

5 SAM ADMINISTRATOR PROCEDURE 1. Prvide cardhlder with a hardcpy and an electrnic cpy f the Purchasing Card Prgram Manual. 2. Recrd cardhlders cnfirmatin that that the manual has been read. 3. Ensure all P Card hlders are abiding by P Card Plicies and Prcedures. 4. Mnitr/Review/Apprve P Card hlders weekly transactins. 5. Acts as liaisn between departmental P Card hlders and the Office f Surcing and Prcurement. 6. Make certain departmental P Cards are secure at all times. 7. Receive and mnitr s cnfirming accunts have been recnciled by cardhlders. 8. Review all receipts and statements prir t apprval submitted by cardhlders. 9. Review purchases psted t the G.L. n a mnthly basis.