and Coding Purchases
7.0 Recording, Coding and Reconciling Purchases
and Coding Purchases
Ministries must put systems
in place to facilitate recording purchase details and account coding for each
transaction to ensure that statements can be reconciled. The Office of the Comptroller General has developed forms to support ministry cardholders log purchases and reconcile transactions with monthly statements, and also to evidence expense authority approval of purchases. Purchase Card Transaction Register forms are available on the OCG Forms site.
As a minimum, cardholders
- date of purchase;
- item and quantity;
- supplier name;
- account coding
- dollar amount; and
- identity of expense authority
who approved the purchase.
Cardholders must retain
all documentation pertaining to their purchases, including receipts, invoices,
fax follow-up letters, contracts, printouts of Internet order confirmations
and emails or other forms on which expense authorities initiate expenditures.
Purchasing card statements
will be made available to cardholders after the end of the billing cycle, which
is the third day of the month. Electronic statements are available within 24
hours of the end of the billing cycle. Paper statements (if requested) usually
take two weeks to be sent to the cardholder. It is the responsibility of the
expense authority to ensure that cardholders reconcile their statements to their
transaction registers in a timely fashion and submit them to their expense authority
for approval and processing.
The full purchase card number must not be transmitted by email either in a message or its attachment to reduce the opportunity for fraud and improper use of the card. In addition, all but the last 4 digits of the card number must be blacked out from card statements that are electronically attached or stored in the CAS Oracle financial system.
Ministries must ensure that
purchases are recorded in the correct fiscal period. This may require the accrual
of some transactions in the April purchasing card statement. Ministries should be mindful that
there may be some April purchases appearing on this statement. April purchases
should not be included in the year end accrual.