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Payment Card Approval Procedure

Step 1. Bookkeeper gets receipts from cardholder

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Payment Card Approval Procedure

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    1. Payment Card Approval Procedure Step 1. Bookkeeper gets receipts from cardholder & reallocates transactions in Pathway Net Step 2. Bookkeeper runs Report 121 (Cardholder Statement) in Pathway Net and reconciles receipts to the report Step 3. Cardholder reviews and approves Report 121 Step 4. Department approver reviews and approves Report 121 Step 5. (State funded transactions only) Bookkeeper submits supporting documentation to FMO for audit Step 6. Bookkeeper reconciles Report 121 with FAMIS statement and then retain records according to retention schedule

    2. Step 1. Bookkeeper gets receipts from cardholder & reallocates transactions in Pathway Bookkeeper gets receipts from cardholder daily, weekly or monthly (least preferred) and logs into Pathway to do reallocation. Bookkeeper should review receipts for: verification of goods or services received, tax, detail receipts, alcohol purchases, unallowable purchases, purchase that must be reallocated. If department still wants to require a log, verify log is turned in with receipts and verify that for each log entry there is a detailed receipt. Additionally, bookkeeper should ensure items that require reallocation are complete and charged to appropriate account and object code. See Reallocation Checklist and Reallocation Instructions at http://finance.tamu.edu/fmo/ap/resources/forms_tools.asp Reallocation deadline in Pathway Net is 15 business days after the statement date (Usually it falls under 26th of each month)

    3. Step 2. Bookkeeper runs Report 121 (Cardholder Statement) in Pathway Net and reconciles receipts to the report Do not run this report before statement date nor before all reallocations have been performed Usually the statement date falls on the 5th of each month, but if 5th is weekend, it will be the following Monday Usually it takes the bank a couple of days to post all transactions after statement date. So we would suggest you to run this report around 9th of each month, if all reallocations have been performed. For instructions on how to run this report in Pathway Net please see the following link http://finance.tamu.edu/fmo/ap/resources/using-pathway-net-to-run-statement.ppt The following slides are an example of the report and instructions on how to read the report

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