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