P‑Card Year End Information 2019

The final Purchasing Card statement for fiscal year 2018/2019 will be available online April 4, 2019.

All transactions appearing on your April statement will be accrued to March 31, 2019.  This may include transactions processed up to and including April 3, 2019. The final statement for this fiscal year will be available online Thursday, April 4, 2019.

To allow charges for the April Statement to be applied to the proper accounts within your budget, your P-Card statement must be reconciled online no later than 4:00 PM, Thursday, April 11, 2019.  Charges that are not reconciled by this time, will be charged to you default account.  This shortened time frame for reconciling your P-Card statement only applies to April’s statement for year end.

Background:

The Purchasing Card billing cycle is the 4th of each month and represents transactions for the previous month.  As a result, the billing cycle is normally completed one month in arrears from an accounting perspective (e.g.: January transactions are processed in February, etc.).  An exception to this procedure occurs at our fiscal year-end (March 31) so that transactions are matched to their proper accounting period.

Due to the processing lag between our vendors and the bank, transactions occurring on April 3rd, 2nd and 1st may or may not appear on the statement issued on the 4th.  The charges must be processed through the vendors MasterCard system to appear on your statement.   

The charges from your April Purchasing Card Statements will not be processed in Banner before the first cut-off in Financial Services, but will appear on your final financial reports for 2018/2019.