There has been a decline in the numbers of staff adhering to the Purchasing Card Policy: UoK MasterCard Purchasing Card Users Procedures Final Approved Version May 2020 Updated Version.pdf regarding record keeping, statement reconciliation and line manager approval of spend.
It is the responsibility of the card holder to accurately record all card transactions. The card holder or designated administrator must reconcile all card transactions via the online portal, Smart data. Statements are available from 6th of each month with transactions appearing two days after the payment has been made. Statements need to be reconciled, receipts uploaded, and transactions approved by a manager by the 20th of the following month i.e statements of 04/01/25 to 03/02/25 will need to be reconciled by 20th February.
In instances where the deadline has been missed:
- For any transactions which have not been reconciled, a journal must be raised with a signed statement and receipts attached. Copies of these receipts must also be emailed to procurement@kent.ac.uk
- A statement will need to be downloaded and signed by both the cardholder and the approving line manager and emailed to paymentsoffice@kent.ac.uk
- For any receipts which were received after the reconciliation deadline, copies must be emailed to procurement@kent.ac.uk
Receipts must be retained for a minimum of six years with copies held by the cardholder/administrator and stored with Procurement.
Failure to accurately record purchasing card expenditure may be recorded as misconduct.
Mark Reed
Assistant Director of Finance (Procurement)