Receipt and Recordkeeping Requirements
Cardholder Recordkeeping/Receipt Requirements
Each cardholder must maintain files of transactions by card, by month and by fiscal year. Included in each file must be original itemized receipts, PNC Bank statements (for billing cycles that had transaction activity), and transaction summary log sheets. (Exceptions to the filing process described above must be submitted in writing to the Assistant Dir for Card Services).
When making a purchase via telephone, internet, or mail order, the cardholder must request that a receipt or confirmation of the order be mailed, faxed, or emailed directly to the cardholder. All receipts/invoices must list all items purchased and the amount of each item. The receipt/invoice must also include pertinent information such as the vendor’s name/address and credit card information (showing the last 4 digits of the card that was used for payment). If the item is being shipped, the receipt/invoice must show that the item was shipped to a university address. The cardholder should always obtain and document the name of the individual who took 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 Alcohol/Entertainment policy for more details.
Original receipts are required as an internal control that helps substantiate transactions, are evidence that transactions are legitimate, and help prevent abusive practices. A pattern of missing receipts (or other evidence) could be an indicator of fraud.
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.
Receipts, transaction summary logs, and PNC Bank statements must be retained for a period of 3 years. (Refer to the Controller's Office Retention of Records Policy for the archival period associated with grants and contracts.) Cardholders must maintain documentation in a manner that will allow a quick review the records. Documentation that is not properly filed or organized may result in an audit finding.