Reconcile My Monthly UB Foundation (UBF) PCard Statement

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UBF American Express (Amex) cardholders are responsible for the monthly reconciliation of their card statements. 

Your PCard Paperwork

Cardholder establishes a secure PCard file to retain all original receipts and invoices to track all purchases and credits.

Payment Processing

  1. The bank sends payments for all transactions processed with a Procurement Card directly to suppliers within 2-3 business days.
  2. UBF subsequently makes a single monthly payment to the bank.
  3. Cardholders complete a monthly reconciliation of charges.

Failure to reconcile monthly charges within requested timeframe could result in suspension or termination of card privileges.

All cards are on a 30-day billing cycle, approximately from the 30th of the month through the 30th of the following month. Completed monthly summary forms must be sent to UBF by the 15th each month. Late submissions can result in suspension or cancellation of PCard privileges. All cardholders must adhere to the campus program guidelines, policies, and procedures if UBF's program is to retain in good standing.

Monthly Account Reconciliation Timeline

  1. On or about the 1st of each month, Amex sends an email to each cardholder via US mail.  The statement will detail all charges made during the previous billing cycle. Cardholder should review statement promptly for accuracy.
  2. UBF immediately pays Amex on behalf of all cardholders.  Do NOT send payment directly to Amex.
  3. Cardholders complete and send a monthly reconciliaton form to UBF by the 15th of the month.
  4. UBF processes the monthly summary and images it to UBFirst.
  5. If there were no purchases during the month, no action required on behalf of the cardholder.

The Account Signatory is responsible for ensuring that funds are available to cover the expenditures.

UBF PCard Monthly Summary Procedure

  1. Upon receipt of your PCard, a monthly reconciliation form will be emailed to you. You will use this form each month to reconcile your PCard statement.
  2. Review your card statement for accuracy and compare to receipts and invoices.
  3. Take action to resolve issues with suppliers as soon as possible or contact Amex to dispute items within 60 days of purchase date. Ensure the credit or resolution has occurred.
  4. Change the billing month and year in the upper left hand corner of the monthly reconciliation form.
  5. List each charge or credit appearing on the statement and include a brief description of each charge or credit.
  6. Provide a business purpose for each transaction.
  7. If you would like to charge a different UBF account other than your default account, enter the UBF account number you would like charged in the "Actual Account to Charge" column.
  8. Attach all original receipts and invoices.
  9. Request review from signatory on the account and obtain their signature.
  10. Retain the AMEX statement for your records or shred it.
  11. Mail completed monthly reconciliation form, original receipts/invoices and Amex statement to:

Campus Mail

UB Foundation
Center for Tomorrow
North Campus

External Mail (USPS)

UB Foundation
P.O. Box 900
Buffalo, NY 14226-0900

Before You Send in Your Summary

Have you:

- Attached a receipt or invoice for each transaction as required for audit purposes?
- Contacted suppliers who have charged sales tax to request a credit?
- Submitted your reimbursement check to pay for unallowable charges?
- Has the authorized signatory signed and dated the monthly reconciliation form?

Contact an Expert

Rose Dommer

Accounts Payable Manager

UB Foundation

Phone: 716-645-8749

Email: rdommer@buffalo.edu

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