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PCard Process Outline

  1. Cardholder makes an authorized business-related purchase by charging it on their US Bank MasterCard.
  2. Cardholder files the receipt along with any additional supporting documentation.
  3. The bank pays the merchant when merchant submits the transaction.
  4. Cardholder reviews PCard transactions daily/weekly in the Access Online Internet application.
  5. Cardholder reconciles receipts to the Account Activity Report and to the Cardholder Account Statement. Both of these reports are available through US Bank´s Access Online website.
  6. Card Manager reviews the Cardholder´s transactions in the Access Online web application to ensure the following:
    1. All charges are allocated to the appropriate general ledger center/account,
    2. All charges are for a valid business purpose,
    3. All charges have adequate supporting documentation.
  7. The Card Manager signs and dates the Account Activity Report and electronically ´final approves´ transactions within Access Online on a monthly basis.
  8. Cardholder retains supporting receipts and documentation, Account Activity Reports, and Cardholder Account Statements within the department in accordance with institutional Departmental Record Retention Guidelines.
  9. Vanderbilt University pays the bank each billing cycle.