Receipt and Recordkeeping Requirements
Each cardholder should maintain files by billing cycle. Included in each electronic file should be itemized receipts/invoices/backup documentation, and the completed, electronically signed monthly activity report (MAR).
For each purchase, the cardholder must request a receipt or confirmation of the order and provide a detailed business purpose for the transaction. 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 add all shipping documentation to the transaction in OnBase as part of the backup documentation. The business purpose should include:
- who the purchase is for (a list of attendees for an event/business meal or recipients list & designation of status for gifts/awards)
- what was purchased
- when the event occurred (if an entertainment/business meal)
- where the business activity took place
- why the expenses are reasonable and appropriate for the university
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. All receipts/invoices must include:
- the date of purchase
- vendor name and address
- detail listing of purchase, including item description, quantity, and price
- the total amount of the order
- shipping address
Examples of acceptable supporting documentation include, but are not limited to:
- Original sales receipt
- Original packing slip
- Original cash register receipt
- Copy of order form or application
- Email confirmation of internet order
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 Missing Receipt Form should be completed. It must be signed by the cardholder/responsible party and their supervisor. This form should be retained with all other receipts, bank statements, and the transaction documentation in the monthly ProCard reconciliation file. The ProCard Missing Receipt Form should be used on rare occasions and may not be used on a routine basis. Excessive use of the ProCard Missing Receipt Form may result in the revocation of your ProCard. A pattern of missing receipts could be an indicator of fraud.
OnBase will retain electronically filed receipts and monthly activity report (MAR) 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.)