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Reconciliation Procedure

RECONCILIATION PROCEDURE

  • Check the bank statement against your purchase documentation to ensure that all charges are accurate and that the goods for which you were charged have been received.
  • Prepare your monthly ProCard log: list all charges from the bank statement onto the log; fully document the business purpose of each charge; total the charges; sign and date the log. The total of the charges on the log must match the total on the statement.
  • Attach your bank statement and related receipts to the ProCard log. You may also attach further documentation if needed to support the business use of the ProCard or to support a restricted purchase exception. For security purposes, please black out all but the last four digits of any reference to the card number on the bank statement. 
  • Submit your completed ProCard Reconciliation to your supervisor/budget signatory for review and signature. The Authorizing Signatory on your ProCard Application may delegate the approval authority as noted on the application. Supervisory signoff indicates review and approval on a department level and an awareness that all transactions fall within university policy.
  • For ProCards linked to Sponsored Projects, submit the ProCard Reconciliation to your Senior Financial Research Administrator in ORA (even if the cardholder is the PI). The SFRA will return the signed reconciliation to you.
  • You must ensure you receive back the signed copy and maintain the completed and signed ProCard Reconciliation on file with all original documentation and signatures.
Failure to maintain proper documentation and/or failure to reconcile your account will result in penalties, which may include suspension or the cancellation of your ProCard.