Below is a short description of how the reconciliation process works.
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A charge is submitted to U.S. Bank by a vendor/supplier when a cardholder makes a purchase with a University of Nebraska Purchasing Card. The Purchasing Card is issued in the name of the employee as the cardholder, who is responsible for the safekeeping and use of the card.
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The cardholder is responsible to turn in forms, packing slips, receipts, invoices, and any documentation that supports the charges to the reconciliation clerk in the department. Purchasing Card charges are generally reconciled by the clerical staff in the cardholder's department.
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U.S. Bank transmits charges for purchases that have been submitted for payment by vendors/suppliers. These charges will be added to the SAP PCARD screen file daily. Charges should be reconciled on a daily basis, if possible, with all charges for the week posted by Friday.
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All charges must be reconciled in a timely manner, as U.S. Bank has already been paid. If you have a problem or a concern regarding a particular charge, contact the vendor/supplier or Accounting Services for assistance. If you receive a credit from a purchasing card charge, have the vendor credit it back to the cardholder account.
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Reconcilers should have in their possession at the time of reconciliation the payment documentation, the cost object, and GL account code to be used for recording the transaction. The descriptions used when reconciling should be as specific as possible. There are fifty (50) spaces for a description.
Please contact Accounting Services for assistance with the reconciliation process.