Printed on: 10/22/2019. Please go to http://policy.umn.edu for the most current version of the Policy or related document.
Verification and Approval of Procurement Card Activity
Timeframe for Verification and Approval
- PCard transactions must be reconciled and approved within 30 days of the transaction posting in EFS.
- The PCard Office will work with departments when transactions are not approved within 30 days of the transaction posting in EFS to ensure they are reconciled and approved in a timely manner.
- Transactions not reconciled and approved within 60 days of the transaction posting in EFS will result in the following suspensions:
- First Suspension – Card will be suspended until ALL transactions have been reconciled and approved.
- Second Suspension – Card will be suspended until ALL transactions have been reconciled and approved then will remain suspended for an additional 30 days.
- Third Suspension – Card will be canceled.
Verification and Approval of Transactions
- Review all of their card activity for fraud
- Navigate to MyU (myu.umn.edu) > Purchasing Tab > My Wallet to view posted transactions.
- Provide justification for each purchase made.
- Provide ChartField string(s) where the expense should be recorded
- Provide detailed receipts or images of detailed receipts for each transaction
- Document authorization of each purchase through one of the following:
- Ink signature on each receipt
- Ink signature on a group of receipts imaged as one document
- Personally enter an Expense Report in the financial system
- Personally apply an electronic signature for the activity
EFS EX Preparer Role (can be cardholder)
- Expense report preparers must delegate themselves as UM Authorized Users to cardholders in order to reconcile procurement card activity.
- Access financial system to review and bring procurement card transactions into an expense report (Employee Self-Service > Travel and Expense Center > Expense Reports > Create/Modify and click on the “Add a New Value” tab).
- Compare receipts to transactions and ensure receipt(s)/documentation is attached to the Expense Report.
- Ensure a justification is in the "Description Field" for each transaction.
- Provide appropriate ChartField information for each transaction.
- If a charge appears to be invalid or is not recognizable, go to the dispute process*.
- Indicate in the justification (Description Field) that the transaction is being disputed.
- Submit Expense Report for approval.
Department/Certified Approver (cannot be the cardholder)
- Expense Reports will be routed for approval based on the Dept ID in the ChartField and the Payment Type (Prepaid or Out of Pocket).
- Approvers can either Approve, Send Back or place an Expense Report on Hold. Approvers cannot make any changes to the Expense Report.
Imaging of receipts/documentation for Expense Reports.
- Any receipts/documentation attached to an Expense Report will be “swept” into ImageNow once the Expense Report is approved.
- Receipts/documentation not attached to the Expense Report must still be imaged into ImageNow.
- Cluster procedures
- Email procedures