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P-Card Application FYE 2013 – Review

P-Card Application FYE 2013 – Review. You & Your P-Card Roles. Agency you represent Years of P-Card experience (Your First FYE ?) Does your agency use the Posted Pending process? Any special year end procedures your agency has? Example: No purchases after XX date?.

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P-Card Application FYE 2013 – Review

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  1. P-Card Application FYE 2013 – Review

  2. You & Your P-Card Roles • Agency you represent • Years of P-Card experience (Your First FYE ?) • Does your agency use the Posted Pending process? • Any special year end procedures your agency has? Example:No purchases after XX date?

  3. Suspend P-Cards for Year End • Agencies that wish to suspend cards to temporarily halt purchases prior to FYE may do so within the WORKS program at the Bank of America website. • Thanks to Nancy Ashcroft for the document she put together on this process.

  4. P-Card.NET & FYE • Fiscal Year End Issues • Login & Security Settings • Closing Dates • Posted/Pending Adjustments • Reconciling P-Card to STARS

  5. Login & Security Settings New Cardholders Unpopulated Transactions Watch for latest Visa Update

  6. Administrative FY functions • Outstanding transactions • Adding missing cardholders • NEW Card information • Changing names on existing cards with BOA • Posted Pending processing

  7. Closing Dates for 2013 • Agency defined preliminary reports are out on Monday July 1, 2013 • Bank Statement for June available from Bank of America July 1, 2013 • Statement date = June 1 – June 30 , 2013 • STARS closes at 7 p.m. June 28, 2013 • Post Pend (if necessary July 3, 2013)

  8. Closing Dates (continued) • P-Card – July 5, 2013 is the LAST day to make the BoA payment. • If you have not already done so, post the Bank of America payment for June transactions, using a June effective date. July 8, 2013 agencies will be allowed to post FY13 correcting entries until 7 p.m.

  9. Posted Pending Process – WHY? • What are the benefits of using the process? • Should I use it all year or just at FYE? • When will the adjustments go through FY13 or FY14?

  10. Recommended Sequence for Agencies who USE Posted Pending • Run the “Potential Posted Pending” report from the Report tab using statement dates June 1 -30, 2013 (July transactions do not need to be post/pended.) • Execute Posted Pending from the Admin Main Menu • Run the Posted Pending report with same dates listed above

  11. Recommended Sequence whenPosted Pending only used at FYE Run the “Potential Posted Pending” report from the Report tab using: FY12 dates July 1, 2012 –June 30, 2013 • Execute Posted Pending from the Admin Main Menu • Run the Posted Pending report with same dates listed above

  12. Why would I run the Posted Pending for a full FY? ? Maybe some items on a transmittal were sent to STARS and stragglers are needing to post. ? Your favorite cardholder is always late submitting receipts and you would rather not think about them anyway. Sorry, ignored transactions don’t go away.

  13. Transactions MUST be processed in correct FY! Posted Pending processes all transactions that have NOTbeen verified or fully Approved.

  14. When do I run Post/Pend Adjustments? • The Posted Pending adjustments are automated. When the transactions have been verified and fully approved, they will automatically post to STARS. • Adjustments will reverse original entry and post 27A, 27B or 27C TC’s. The final release date will be the effective date in STARS.

  15. Word to the Wise! Cardholders and approvers STILL MUST review and process the transactions. Posted Pending only uses the defaults and gets the expense recognized. TRANSACTIONS WILL REMAIN IN THE P-CARD APPLICATION UNTIL ALL STEPS ARE COMPLETE!

  16. Reconciling P-Card to STARS Use BOA statement dates

  17. Total of VISA Transactions MUST match 28Z Coding!

  18. WORKS & P-Card Outstanding CCto the Rescue PROBLEM: The transactions from VISA don’t match the 28Z coding column. Remember you have two resources to help locate the differences. • WORKS – Did you add new cards or have card replacements? • P-Card – Did you add the new cards in the SCO application?

  19. Making my final 2013BoApayment When you are ready to pay Bank of America • Run Reconciliation report for WF statement date range of June 1- June 30, 2013 • Pay the bank with a 28Z transaction in FY13 • Effective date must be JUNE, 2013 • Make payment NO LATER than July 5, 2013

  20. G/L 2105 P-Card Liability Account • This account balance accumulates and therefore discrepancies will carry from month to month. • Run reconciliation report for full FY July 1, 2012 through June 30, 2013

  21. What reports can I use? • P-Card Reconciliation Report • STARS Trial Balance DAFR8160 • IBIS query on 2105 (STARS GL Reporting Group) Filter on TC Code

  22. Is my 2105 P-Card Liability at Zero?

  23. What other resources are available? • New reports in IBIS Statewide Reports • P-Card Liability by Calendar (STARS Effective) Date • P-Card Liability by Posting (Document) Date

  24. P-Card Accounting Reporting Group in IBIS • P-Card Data • STARS Data

  25. Closing Remarks on P-Card Assistance: Help is always available! • The SCO homepage for P-Card manual. www.sco.idaho.gov • E-mail dsahelpline@sco.idaho.gov • Accounting Helpdesk 208-332-8827

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