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Payment Overview

Payment Overview . The bill is paid each month from a clearing account and is paid exactly as billed. By the 15 th of each month an entry is prepared by Accounting and Financial Reporting to record the transactions on Banner. Payment Overview.

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Payment Overview

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  1. Payment Overview • The bill is paid each month from a clearing account and is paid exactly as billed. By the 15th of each month an entry is prepared by Accounting and Financial Reporting to record the transactions on Banner.

  2. Payment Overview • Only items paid for with state funds may be purchased using this card. • Agency, local, SGA, Foundation and Club funds may not be used with this card. • Personal items, cash advances, and business expenses are not allowed (with the exception of air and rail tickets).

  3. Log Sheets • A log sheet must be started on the 16th day of each month. • This log is to be filled out as items are ordered. • The log sheet is mandatory.

  4. Log Sheets • Date • Department Name • Card Holder • Banner Index • Date Ordered • Vendor Name • Description • Account Code • Price • eVA Information

  5. Account Codes • Account codes are specific to the type of expense. • The Hierarchy Report in the Banner Chart of Accounts lists the specific account codes. http://www.longwood.edu/finance/acct.htm • The CAPP Manual at the Department of Accounts also gives a list of available codes. This list gives an explanation of each one. http://www.longwood.edu/finance/acct.htm

  6. Log Sheets • The log sheet will be completed on the 16th of each month. • Complete a separate log sheet for each Banner account that has purchases. • If an item is on the log sheet and not on the bill highlight and note on the log sheet (NOS) and make a copy of the log sheet to use for next month.

  7. Log Sheets • Note any discrepancies directly on the log sheet. • Attach all packing slips, invoices,notes,etc. to back of log sheet. • Each transaction must have some type of documentation that shows a detail of what was purchased and what price was charged. • eVA documentation must be kept with your copies but you do not need to send to Accounting with your package.

  8. Cover Sheet • Dept Name/Phone • Cardholder • Closing Date • Total Amount

  9. Cover Sheet • Fill in total amount of each Banner Index adding like account codes. • Fill in eVA information on bottom of form. • Sign as Cardholder. • Have your Supervisor approve.

  10. VISA Card Package • Assemble the package in the following sequence: 1. Cover Sheet 2. Log Sheet 3. Invoices or packing slips, notes, PO copies, RTA, etc. 4. Purchasing check off sheet

  11. VISA Card Package • Send the entire original package to Sylvia Schutt in Accounting and Financial Reporting by the 7th of the month.

  12. VISA Card Package • If your paperwork is not received in Accounting by the 7th of the month and you have not given prior notice that your report will be late you will be notified by an email that will also be sent to your Supervisor as well as the Vice President for Administration and Finance.

  13. VISA Card Package • If your paperwork is still not received in a timely manner the email will be resent and will also go to your area Vice President. • Keep a copy of the entire package for your records.

  14. Discrepancies • It is the cardholder’s responsibility to notify the vendor of any problems with the order or statement. • You may contact VISA Bank of America directly at 1-888-449-2273.

  15. Tax • Purchases on this card are tax exempt with the exception of air/rail fares and special hotel charges. • It is the cardholder’s responsibility to ensure that any tax charged in error is credited.

  16. Registrations • Please charge all registration fees for conferences, etc. to the VISA Card. The approved RTA must accompany the VISA Card package.

  17. Air/Rail Tickets • Use your VISA Card to purchase Air or rail tickets. • A copy of the itinerary or ticket must be attached to the package as well as a copy of the RTA.

  18. Special Hotel Arrangements • No tax is allowed except for on air/rail tickets or special hotel arrangements. • Special hotel arrangements refers to speakers or candidates housed in Farmville. • This may be secured by sending an email to hillda@longwood.edu with the date, hotel, purpose and name of person housed.

  19. Special Hotel Arrangements • If you use this card for special hotel arrangements you must have a copy of the release and the approved RTA with your package.

  20. Special Hotel Arrangements • If your hotel charges exceed the state rate you must attach a copy of the approved overage documentation from the RTA.

  21. Aramark Invoices • Please use this card for all Aramark purchases made with state funds. • Meal payments require a list of names of all persons fed. • Only business meals are reimbursable and there must be documentation showing the nature of the business. • Per diem rates must be adhered to.

  22. Aramark Invoices • For invoices involving refreshments include the announcement/invitation if a list of persons is not available. • Remember refreshments are allowed only when an outside person is present. • A reason for the function is also required.

  23. Internet Purchases • Items may be purchased over the internet through a secure site. • This is noted by the site address as “HTTPS”. • This will not appear until you get to the ordering screen. A screen print of the secure site must be included in your package.

  24. Credits • Credits must be documented with a copy of the invoice and credit and any notes you may made. • If you have a $0.00 balance you don’t turn in any paperwork.

  25. Special Helps • Your package is due on the 7th of each month. • The amount on your package must match the statement. • If you have a $0.00 balance you do not send in any paperwork. • Securely staple your package together. • Only one cover sheet is allowed per cardholder.

  26. Special Helps • We are tax exempt. • You may purchase over the internet. • Use this card for Air/rail purchases.

  27. Special Helps • Document any unusual purchases directly on the log sheet. • Make sure your paperwork is approved. • Documentation is of the greatest importance!!!!

  28. Special Helps • Card sharing is not allowed. • Faxing of your account number is not permitted. • Do not email your account number.

  29. Special Helps • If you can’t make the 7th deadline, CALL ME.

  30. Policy on Web • The policy and procedures for the VISA Bank of America Card may be viewed at: http://www.longwood.edu/finance/

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