Reconciling the monthly revenue and expense detail report is a critical fiscal management control to ensure that revenue and expenditure transactions are correct, allowable and applied to the appropriate accounts. This reconciliation includes the following:
- Reconciling actual revenues and expenses promptly can reveal duplicate invoice payments, amounts changed in error or non-payment. These problems can be immediately corrected to keep budgets balanced and accurate. Refer to the best practices for Reconciling Operational Transactions procedures.
- Reconciling P-Card transactions: Refer to the best practices-purchasing card departmental procedures.
- Reconciling revenues to ensure that payments made to ASU are deposited intact, in a timely fashion and are recorded with the appropriate worktags.
- Reconciling salaries and wages: Refer to the best practices for reconciling payroll expenses.
Fiscal management officially rests with the department director, chair or other designated official. Account management, however, is often the responsibility of specific administrative staff, who report on the status of departmental accounts on a monthly basis to the director, chair or other designated official. Departments are responsible for reconciling accounts, proving and documenting that an account balance is correct, at least once a month for the previous month's activity.
The required reconciliation roles are preparer and approver. The preparer should have familiarity with routine transactions for a department's accounts. Preparers are normally administrative staff who handle a department's day-to-day fiscal responsibilities. Approvers are normally the administrative staff who report on the status of departmental accounts on a monthly basis to the director, chair or other designated official. Departments with limited staff that do not have a preparer and an approver should consult with their dean's office or vice presidential financial administrators to identify how to appropriately handle these roles.
A transaction may be reconciled without physically verifying supporting documentation if the reviewer has knowledge of the transaction's nature. Research and resolve any discrepancies, and verify that all transactions comply with ASU policies and procedures.
日本一本道a不卡免费Note: Some internal service units do not provide invoices for services rendered, such as postage charges from ASU Mail Services. Departments must have a knowledge of the expected, customary and routine charges from these units. If any charges appear unusual, the department should contact the unit to request supporting documentation and resolve any discrepancies.
When the reconciliation is complete, the approver should scan the report and verify the appropriateness and legitimacy of the transactions recorded against the department's accounts. The approver should review in detail any unusual or unexpected high dollar amount transactions.
日本一本道a不卡免费Departments must provide evidence that the account reconciliation is prepared and approved. The preparer and approver can do so by noting their names and the date on the reconciliation. Departments should document reconciliation procedures. Complete monthly reconciliations prior to the month end close of the subsequent month. Month end close is typically the fourth business day after the last day of the month.
Retain all reconciliations and supporting documentation for non-sponsored accounts for at least three fiscal years, per FIN 103: Department Record Keeping. Sponsored accounts have a retention period of seven fiscal years after the grant close date. Additional guidance on reconciling sponsored accounts is available on the research administration website.
The ASU Financial Services Accounting staff can assist you with researching questionable transactions.
The cardholder must perform the following duties:
日本一本道a不卡免费Maintain the P-Card in a secure location.
Notify the P-Card Administrator when someone’s employment status changes, such as transfer to another department or campus, leaving the university, etc.
Initiate all P-Card transactions in compliance with all relevant ASU policies and procedures, including the Purchasing and Business Services Policies and Procedures Manual, the Purchasing Card – A Guide for Users and the Financial Services Policies and Procedures Manual日本一本道a不卡免费, and any department-specific internal policies or processes.
日本一本道a不卡免费Timely upload of supporting documentation for each transaction in the Procurement Card Verification process in the Financial Management System. Ensure business meals forms which will include the public purpose are attached for meals-related charges.
Attach required and/or relevant documentation such as receipts or invoices.
日本一本道a不卡免费Ensure that the business purpose of each purchase is clearly documented in either the attachments to the PCD or the memo field at the line level.
日本一本道a不卡免费Ensure that no charges have been split to circumvent P-Card daily or transactional spending limits.
日本一本道a不卡免费Finalize and submit the PCD in the FMS to the Cost Center P-Card Manager for timely review.
日本一本道a不卡免费The cardholder must submit the PCD transactions in a timely fashion. Failure to submit information to the reviewer may result in P-Card cancellation.
日本一本道a不卡免费Reviewer duties are best performed by a business manager or someone in a related position who has complete knowledge of ASU policies and procedures, and with the authority to question other's transactions. The reviewer should not be the cardholder's direct report.
The reviewer must perform the following duties:
Maintain a control list of all P-Cards issued in the area for which they have responsibility.
日本一本道a不卡免费Review the control list to ensure the reviewer submitted all of the backup documentation for any P-Card transactions for the month. Departments can run the ASU Procurement Card Transaction Verification Lines report within the FMS to see if there were any transactions for a cardholder during a particular month. Your financial Services accountant is available to assist.
日本一本道a不卡免费Timely review of each transaction and verification reviewing the public purpose by the Cost Center P-Card Manager.
Request additional documentation for any transaction that appears to be personal in nature and is not fully explained in the provided documentation.
Be knowledgeable of PUR, P-Card and FIN policies and procedures, and confirm that all transactions appear to follow all relevant ASU policies and procedures, are of an appropriate nature to be charged to a P-Card and are allowable based on the type of account the card is tied to. General operating versus local versus sponsored.
If necessary, seek a third-level review from a senior management or business official within your area to help ensure that transactions are allowable, supported by a public purpose, within budget and appropriate for the department.
If the cardholder is not able to appropriately support or explain a questionable transaction, the reviewer contacts the appropriate administrator for guidance on next steps. This should, at a minimum, be a dean's or director's office. Purchases that cannot be fully documented as having a valid ASU business purpose must be immediately and fully reimbursed by the cardholder into the account linked to the P-Card incurring the expense. Documentation of the reimbursement, including the cashier's receipt from ASU Cashiering Services, must be uploaded with the applicable PCD.
Expenses with no ASU business purpose cannot be reimbursed with funds on deposit at the ASU Foundation, or any other ASU-affiliated organization such as the Sun Angels Foundation or ASU Alumni Association.
Repeated instances of personal use by a cardholder must be reported to the P-Card Administrator, and may result in the cancellation of the cardholder’s P-Card. The Arizona Board of Regents has stressed that accountability for adherence to policies and procedures rests with the cardholder as well as the designated reviewer. If inappropriate or personal transactions have occurred that were not detected and reported through the reviewer’s regular duties, the reviewer and cardholder may be subject to disciplinary action.
Advanced Review Techniques
日本一本道a不卡免费Another useful tool for monitoring P-Card transactions is JPMorgan’s online system, PaymentNet. Purchases post first to PaymentNet based on the vendor’s Merchant Category Code and a mapping application to place the item in a default spend category. Each transaction stays in PaymentNet for at least five business days prior to posting to the FMS, allowing users to add optional worktags or change the expense to the most appropriate spend category to ensure proper financial reporting. Utilizing PaymentNet avoids the need for processing accounting journals in the FMS and allows for identifying errors and/or fraudulent charges in a timely fashion. By reviewing PaymentNet regularly, at least weekly, questionable transactions can be identified and formally disputed with JPMorgan quickly. The P-Card administrative team can set up cardholders and reviewers with the appropriate PaymentNet access levels, as well as train them on the queries and reports available. To request access to PaymentNet please complete a .
Note: The policy that governs the use of university vehicles is FAC 204: Fleet Service.
日本一本道a不卡免费The Voyager Card is the method of payment for fueling official Arizona State University vehicles and gasoline-powered equipment, and is issued by (and the property of) Voyager Fleet Systems, Inc. One card is issued per vehicle, with the vehicle number, “Arizona State University,” a vehicle description, a unique 15-digit card number and another unique “RC” number in the format "RCxx mmyy" embossed on the card. The digits after RCxx indicate the month and year of expiration. The back of the card has an encoded magnetic strip to swipe at the pump or credit card terminal, and a toll-free telephone number to call for assistance or to report a lost or stolen card.
日本一本道a不卡免费If your department uses a lot of fuel for various machines, generators or tools, such as lawnmowers, trimmers, leaf blowers, etc., consider obtaining a separate card — one card for all equipment, not one per piece of equipment — to more easily separate fuel specifically used for vehicles. ASU must annually report all fuel usage to the state.
日本一本道a不卡免费Only use the Voyager Card for fueling ASU vehicles and equipment, not for dispensing fuel into personal vehicles or equipment, or into containers for subsequent personal use. Please contact Facilities Development and Management regarding issues of ASU vehicle operation, including the Voyager Card.
Voyager card use
Use the Voyager Card at all major gas stations, except AM/PM. Maintain a master log of all vehicles (with vehicle number, description, year, fuel type and fuel tank capacity) and corresponding card information by each department, including a current list of authorized drivers. Maintain a transaction log to account for all card usage. This will make it easy to track monthly fuel expenses by vehicle.
日本一本道a不卡免费When refueling an ASU vehicle, the card assigned to the vehicle must be “logged out” to you. Use the card at the self-service pump, or give it to the cashier to process the transaction. When using the card, enter a Driver ID (pin number). The Driver ID, which is the six-digit number following “VEHICLE,” is on the front of the card. Also, enter the vehicle’s current odometer reading. Purchase the lowest priced regular unleaded fuel available, unless diesel fuel is required. Use the Voyager Card for fuel only; purchases of car washes, maintenance and repairs or general merchandise are prohibited.
After returning to your department, turn in the card to the appropriate custodian, as well as the receipt indicating the type, quantity and amount of fuel purchased. The receipt must include the odometer reading, vehicle number and your signature or initials. Include all of the following information on the transaction log:
Amount of sale.
日本一本道a不卡免费Explanation if you purchased something other than standard fuel.
Quantity purchased in gallons.
日本一本道a不卡免费The reviewer’s signature at the end of each month’s transactions.
Transaction date and time.
Your full name printed legibly or typed.
Review of Voyager card transactions
日本一本道a不卡免费In each department, one person — preferably someone who does not regularly drive ASU vehicles — is responsible for accounting for all vehicle expenses, including fuel. For small departments that don’t allow for adequate segregation of duties, the Dean’s or Vice President’s office performs a secondary review. The reviewer is responsible for ensuring that all supporting documentation is present, that the quantities purchased are reasonable (based on fuel capacity and the time and mileage since the last fill-up) and that the proper grade and type of fuel was purchased.
Each month, Facilities Development and Management receives the master bill for ASU from Voyager, and charges departments via II billings in Advantage. The amounts are charged by vehicle number and should match to each department’s transaction log. Contact ASU Facilities Management at 480-965-1813 to request more detailed backup documentation to help resolve any discrepancies. Following the review of each vehicle's monthly log and verification to II billings, the reviewer signs and dates the monthly transaction logs to indicate completion. Maintain all logs and supporting documentation in the department for five years.
日本一本道a不卡免费As with the P-card and all ASU financial activity, all employees and supervisors are responsible for complying with university policies and procedures. If an employee misuses the Voyager Card, the secondary review process can detect the misuse in a timely fashion. The Arizona Board of Regents will punish anyone who misuses the card as well as the reviewer, if he or she could detect the misuse in the review process.