Cycle Period

Each purchasing card cycle goes from the 21st of the month until the 20th of the following month.  Hard copy statements are generally received and distributed to cardholders around the 26th of each month, will monthly reconciliation packets being due around 5th of the following month.

For example:

October's cycle ends on October 20 and the November cycle begins on October 21.  Statements for transactions ending October 20 will be received on approximately October 26, distributed and will be due back around November 5.

Reconciliation Packet

The Purchasing Card Reconciliation Packet consists of the hard copy statement which has been signed by both the cardholder and their immediate supervisor (or budget officer), all receipts for transactions listed on the hard copy statement, and the Transaction Log.

Purchasing Card Transaction Log

The cardholder must maintain a log showing all purchases made.  The information requested on the log consists of the date of purchase, vendor, amount of transaction. business purpose of the transaction (as detailed as possible) and the GL account to which the charge is to be applied.  Please provide all 17 digits of the GL account and DO NOT use GL account descriptions rather than numbers.  If the appropriate information is not given completely, the charge will be applied to the default GL account listed for your card.

The log, along with supporting documentation, will be maintained for five years by the Purchasing Department.  They will be filed by Texas Wesleyan cardholder name and in date order.  The log and supporting documentation will be used for future audits.

Transaction log envelopes will be given to each cardholder at orientation and are intended to provide an additional method of expenditure tracking while using the Purchasing Card.  A separate log must be provided for each month's purchases.  Record in the log each time a purchase is made.  Use a detailed description of the item to recognize the purchase as an authorized transaction. 

Always obtain a receipt when using the purchasing card.  It is every cardholder's responsibility to ensure that there is a receipt for every purchase.  The receipts should be kept in the transaction log envelope until the end of each billing cycle and returned with the cardholders signed statement.