Procard User Guide   Edition 1 - Chapter 5

THE PROCARD REALLOCATION PROGRAM

Policies and Procedures:

NOTE:

Following is Chapter 5, REALLOCATION, of the Procard User Guide. There are five chapters in all. The link to the online User Guide is provided to all prospective cardholders at training. If you are interested in finding out more about this exciting and innovative purchase card program, please contact the Procard Manager in the Procurement Department at 545-1748.

Overview

The Procard Reallocation Program allows Procard users (or their designees) to have some control over which funding account is charged for Procard purchases. When the University sets up a new procurement card (Procard) we tie the expenses to a funding account against which the Cardholder’s Account Administrator has indicated purchases should be charged. Each time a purchase is made with the card, the bank sends the University a record showing the amount of the purchase, the card number, the merchant, and other information about the transaction. Nightly, a program reads these records and creates journal entries to reduce the balance in the funding account by the amount of the purchase.

Unfortunately, there can be only one account associated with each procurement card. It often happens that a purchase made with a Procard should be charged to an account other than the card account. And, sometimes it may be appropriate to split a particular purchase and charge parts of it to more than one account. The Procard Reallocation Program was written to allow this to happen.

Each purchase transaction is automatically allocated to the card account and is then available for reallocation for a period of time. Usually, this will be 30 days from the date the bank sent the University the record of the purchase. An authorized user may use the Procard Reconciliation Panels on the Finance System to move all or part of the charge from the Speed Chart/Account Code to other valid UMass Speed Chart/Account Codes for which the reallocator has authorization to access.

Each person who wishes to use the Procard reconciliation system must have authorization to access the records of the credit cards for which they are authorized to reallocate, and security access on the Finance System to the reconciliation panels. for the budget areas that they are allowed to use. The Procard Manager in the Procurement Department maintains the access to the cards and provides training for this process. The Campus Security Administrator in Administrative Systems for A&F manages the security access on the Finance system. Please contact the Procard Manager in the Procurement Department for instructions on how to become an authorized reallocator.

How To Use the Program.

Follow the procedures detailed in the Procard Job Aid found at - Reallocate Procard

Please direct any questions that you might have concerning the reallocation process to the Procard Manager in the Procurement Department at 545-1748.