P-Card Expense Reconciling/Reporting

This guide will cover:

 

Information

The University of Wyoming procurement card is a VISA credit card used only for university business. Purchases made with this card must be in accordance with federal, state and university statutes, regulations, policies, and procedures as well as the procedures outlined in this manual. The procurement card helps to facilitate a more expedient procedure for purchasing goods for departments. The procurement card is intended to be used as an additional method for the purchase of goods, not as a replacement for purchase orders.

A procurement card may be issued to a university employee (individual faculty, staff, or graduate student). An individual must request a card through his or her department. If the department head believes that it is appropriate for that individual to have a card, a completed Procurement Cardholder Agreement form should be completed and must be approved by the department head.

 

Procurement Card Policy and Procedures Manual

P-card transactions must be reconciled within 30 days of the transaction posted date or the p-card will be placed on hold.  In addition, cardholders with p-card transactions not reconciled within the 30 day period cannot submit for personal reimbursement until all p-card transactions violating the 30 day rule are reconciled.  After those p-card transactions in question have been approved and the expense report indicates a paid status, the p-card will be released from the hold and the cardholder may begin using the card again.  Personal expense reimbursement may be submitted after the card has been released from the hold. 

See the Procurement Card Policy and Procedures Manual for further details regarding the p-card policy.

 

Note: This guide will not be covering the process to run the outstanding p-card transactions report from the Transactional Reporting Table of Contents on WyoCloud. To view a guide on how to do this click here.

 

Step One

Upon accessing WyoCloud from WyoWeb, use the navigator in the upper left corner to access Expenses

  • First click My Profile to expand, then select Expenses.

  • The Travel and Expenses page will display.

  • If you are submitting an expense report on behalf of someone who has delegated this access to you, you will see a drop down menu next to Travel and Expenses.  You will first select this employee’s name from this drop down menu.

 

Step Two

Locate and select p-card transaction(s) to update the required information for each transaction

  • Find the Expense Items that are labeled as P-Card in the Cash and Credit Card Expense Items list.

 

Note: P-card transactions will be uploaded into WyoCloud daily, as they are received from the bank.  There is generally a 1-3 delay as the transaction processes through the merchant and bank. P-card transactions should be reconciled within 30 days of the transaction date.

 

  • Select the p-card entry you wish to add to an expense report by clicking on the hyperlinked date.

    • Note you may enter some detail in the fields provided on this screen, but is recommended to enter into each line to complete all fields so no required fields are missed and the expense class 999 with any other account changes can be completed.

  • This will open the P-Card Detail screen. 

  • Update Type to the correct expense type for the transaction.

  • Include the attachment/receipt in the Attachments field.

  • Complete a full description of the expense item in the Description field.

  • The Merchant name should auto populate for p-card transactions.

  • If the entire transaction should be charged to one account, you can simply update the Account information or POET information.  It is recommended if you are only using one funding source to not itemize the line, but rather change the Type from P-Card to the appropriate Type.

 

Step Three

If your p-card transaction requires more than one funding source you will utilize the itemization section. When itemizing, do NOT change the Type from the default P-Card

  • Complete the itemization section at the bottom of the page.

  • Begin by entering the Type for your first funding source, transaction date and amount for that portion. 

  • Based on the type of expense selected, additional fields will populate that will be required to be completed:

    • Merchant Name: Enter the merchant name.

    • Description: Enter a complete business purpose for the expense.

    • Account: Enter the appropriate account and/or project number. If using a project, click tab after entering the project number to display the Task Number, Contract Number and Funding Source. 

    • Other additional fields may populate depending on the expense type selected.

 

 

  • If you are charging to a grant, type the Project Number then hit tab to display the Task Number, Contract Number and Funding Source fields.

    • Note: ensure your browser window is fully expanded for the full grant information to display.

  • To add additional funding lines, click the plus icon (+) and repeat steps to complete the information about the expense item and funding source on the new line.  This can be repeated as many times as needed.

  • Enter the Type, Date, Amount, Description and Account for all additional lines. 
  • Once complete, verify the Remaining Balance equals zero to ensure the full transaction is itemized.

  • If you have multiple expense items available, you can toggle between them using the drop down to the left of Add to Report in the upper right hand side of the screen.

  • Once you are done completing all required information for the p-card transaction(s), click Save and Close to return to the main Travel and Expenses homepage.

 

Step Four

After you have completed all information for the p-card transactions you are ready to submit, the next step is to add the p-card transactions to an expense report.

 

It is recommended not to mix personal reimbursements and p-card transactions on the same expense report.  A single expense report should include only personal reimbursement lines or only p-card transaction lines.

 

  • From the Travel and Expenses homepage, use the checkboxes to select the p-card transactions you wish to add to one expense report.

  • The expense report screen will display.  Provide a detailed business purpose in the Purpose field. 
    • It is recommended to begin the Purpose description with “P-Card” followed by the detailed business purpose. Example: P-Card expenses for hosting and office supply purchases.

  • Confirm the Payment Method is set to Electronic for expense reports containing all p-card transactions.
  • Check the box “I have read and accept the corporate travel and expense policies.”
  • Click Submit to begin the approval process.

  • A confirmation box will appear upon returning to the main Travel and Expenses screen confirming your submission

  • The expense report will route through the appropriate approval workflow and is considered completely reconciled when the expense reports indicates a paid status.

 

You have now completed steps for reconciling a P-Card transaction.

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Details

Article ID: 34026
Created
Mon 7/24/17 9:46 AM
Modified
Thu 9/16/21 11:32 AM