Receipt and Recordkeeping Requirements
Each cardholder should maintain files by billing cycle. Included in each file should be original itemized receipts/invoices, PNC Bank statements (for billing cycles that had transaction activity), and the completed, signed transaction summary log (TSL).
For each purchase, the cardholder must request a receipt or confirmation of the order. All receipts/invoices must include the date of purchase, vendor name, the item(s) purchased, the unit price of each item, and the total amount of the order. The cardholder should retain all shipping documentation.
Receipts for business meals or entertainment expenses must be itemized and accompanied by a list of attendees and an explanation of the business purpose. See Entertainment/Business Meal Policy for more details.
Receipts are required as an internal control that helps substantiate transactions, are evidence that transactions are legitimate, and help prevent abusive practices.
Policy for Missing Receipt: When an original, itemized receipt is lost or otherwise unavailable and all measures to obtain a copy have been exhausted, the ProCard Receipt Form should be completed. It must be signed by the cardholder/responsible party and his/her supervisor. This form should be retained with all other receipts, bank statements, and the transaction summary log in the monthly ProCard reconciliation file. The ProCard Receipt Form should be used on rare occasions and may not be used on a routine basis. Excessive use of the ProCard Receipt Form may result in the revocation of your ProCard. A pattern of missing receipts could be an indicator of fraud.
Retain original or electronically filed receipts, transaction summary logs, and PNC Bank statements for the current fiscal year plus 3 prior years. (Refer to the Controller's Office Retention of Records Policy for the archival period associated with grants and contracts.)