The Accounts Payable department is responsible for monitoring p-card transactions for compliance, not only with ACU policies but also with the IRS. The signed expense reports and their related documentation are audited on a monthly basis and retained in the Accounts Payable office.
The cardholders will have the following responsibilities:
- Ensure the proper and secure use of the p-card and respect the card as if it were their own.
- The cardholder may initiate transactions on behalf of others in his/her department; however, the cardholder is responsible for all use of his/her card.
- Ensure that sufficient budget funds exist for making purchases and only use FOAP numbers the cardholder is authorized for.
- Know and follow the p-card policy as well as any other applicable university policies.
- On a monthly basis each cardholder or department responsible individual should complete the following processes:
- Reallocate p-card transactions throughout the month to the appropriate FOAPA in Concur Expense
- Provide a valid business purpose for each expense
- Upload receipts that correspond with posted p-card transactions in the applicable monthly Concur CBS report
- Submit monthly CBS expense reports in Concur Expense by the 15th day of the month following posted card transactions