Reconciling and Tracking Purchases

The designated custodian is responsible for the recording of all departmental purchases on the Procurement Card Log (See Form) which serves as a reconciling tool for all purchases posted to the college’s financial web reports.

Whenever a purchase is made, either in-person, by fax, or by telephone, documentation of the purchase must be retained by the card custodian. Such documentation should be used to verify the purchases listed on monthly statements and the web reports.

The card custodian or designated assignee is responsible for checking that the supplier's receipt lists the quantity, fully describes the item(s), and excludes sales tax, before the Cardholder signs the charge slip. The transaction details shall also be added to the Procurement Card Ordering Log.For all purchases, the following should be recorded in the Procurement Card Ordering Log:

Date of purchase or order
Name of vendor
A brief description that identifies the items purchased for reference
Name of person ordering items
Total amount charged
Date merchandise is received

It is important that your records properly substantiate all items purchased.  Therefore, all receipts- such as the merchant's original invoice, order forms and packaging slips must be attached to the Procurement Card Ordering Log.

A charge slip without any other documentation would be insufficient, since it only indicates a purchase has occurred at a particular vendor.

 

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