8.5. Reconciling Transactions Timely
Reconciling a transaction involves allocating it to the correct account number and object code, attaching all required documentation, providing an adequate business purpose and having it approved in Concur. A cardholder has 28 calendar days to reconcile a transaction and submit the report. An approver has nine calendar days to approve the report in Concur. Cardholders are encouraged to reconcile their pcard transactions as soon as possible.
After a report is approved, the transactions are transferred to the Oracle financial system (also referred to as Ebiz). These transactions are generally posted to eBiz the day after they are approved and will be visible in Oracle Business Intelligence (OBI) dashboards the day after that. Reconciling transactions in a timely manner ensures that you and your department can see a true view of your financial status as soon as possible. In the case of grants funds, the sponsors cannot be invoiced for these expenses until they appear in the financial statements.
8.5.1. Substantiating Personal Charges
Charging a personal expense is strictly prohibited on a payment card. However, if a personal transaction does get charged to a payment card inadvertently, you still need to update the transaction in Concur within 28 days:
You must update the transaction in Concur by selecting the Expense Type=Miscellaneous Charge the personal transaction to the default cost center (if it is a grant account you must change the account number to a departmental operating cost center 鈥 you cannot charge fraudulent transactions to a grant account) and charge it to object code 718355 (REIMBURSEMENT DUE OU FROM EMPLOYEE).
Cardholder must immediately refund the University by dropping off a check to the Bursar鈥檚 office or electronically through , and apply the credit to the same cost center and object code (718355) as the original charge, with the description 鈥淩efund for Personal Charge鈥.
8.5.2. Reconciling Fraud/Disputed Transactions
After you have reported a fraudulent transaction (following procedure in section 7.6) or have an unresolved disputed transaction, you still need to update the transaction in Concur within 28 days:
- You must update the transaction in Concur by selecting the Expense Type=Miscellaneous.
- Charge the fraudulent transaction to the default cost center (if it is a grant account, you must change the account number to a departmental operating cost center 鈥 you cannot charge fraudulent transactions to a grant account) and charge it to object code 718350 (REIMBURSEMENT DUE OU FROM A NON-EMPLOYEE). Once the credit is received, it should be charged to the same cost center and object code (718350) as the original charge, with a description of 鈥淐redit for Fraudulent Purchase.鈥