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RECONCILING THE MASTERCARD STATEMENT
Each Cardholder is responsible for retaining documentation of purchases and
returns. With the aid of your purchasing log, cardholders compare charge
documentation to the month's MASTERCARD charge card statement.
The following guidelines are to be used for monthly reconciliations:
- Each cardholder will receive a monthly charge card
statement. Contact the Materiel Management Office if your statement is not
received by the16th of the month.
- All documentation pertaining to the purchases and
returns must be matched with the charge card statement.
- If a purchase does not appear on the MASTERCARD statement, make a note on
the log, (i.e., NOS - Not On Statement.)
- If an incorrect charge appears on the MASTERCARD Statement,
treat it like any other purchase for reconciliation purposes since all charges
appearing on the MASTERCARD statement must be paid. See Returns, Credits, and
Disputed Items, for procedures on how to handle incorrect charges.
- TOTAL all charges on the bill by local code and object code. Break
down all charges by local code and object code until the charge total of
the “Total Amount” column on the Statement Cover Sheet matches the “NEW
Charges” total on the MASTERCARD statement. Click
here to download a
Adobe Acrobat file containing
the MASTERCARD Purchasing Card Statement Cover Sheet.
- After the Statement Cover
Sheet has been completed by the cardholder, the cardholder signs the form
as the Cardholder and has the sheet approved by the Approving Supervisor or
Department head. The Cardholder cannot sign for approval.
-
Please
complete the checklist and include with your packet to Accounts Payable.
Click on the sentence above to access the checklist.
- Make copies of the completed MASTERCARD Payment records,
including log and any packing slips, etc., for your file.
- Send the original MASTERCARD package to Accounts Payable by
the 7th of the month following the statement date via campus mail. Do
NOT send electronically via email or web as the forms may contain personal
information.
- File a copy of the package in your department file in
the event that an audit occurs.
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