Audit Procedure

Overspent Indexes

Payment of Monthly Statements

The U.S. Bank Purchasing Card Program carries corporate, not individual, liability. Invoices will be paid by Accounts Payable. The cardholder will not be required to pay their Monthly Statement using personal funds. The program does not impact personal credit ratings in any way.

The billing cycle ends on the 6^th of each month. If the 6^th falls on a weekend or holiday, the cycle will end on the next business day. Each cardholder will receive an individual statement of transactions from US Bank a few days after the end of the billing cycle. Those charges will be posted to Banner using the cardholder’s default index code and the expense account 720559, by the end of the month.  Any reallocation of Purchasing Card expenses needs to be done by journal entry. To have a journal entry entered into Banner, fill out the Banner Journal Voucher Request Form found on the Finance and Business Services website.

Audit Procedure

Overspent Indexes