This is a reminder that ALL Procard reports through the 05/26 - 06/25 Statement Reports need to be approved no later than Wednesday, July 3rd at 5:00 PM.
Transaction Timing
- Since the Procard months range from the 26th to the 25th, the Procard year-end is actually June 25th. To ensure that a Procard purchase is recorded in Fiscal 2024, the transaction must be posted on the June Concur Statement Report 05/26 – 06/25.
- If you intend to have Procard purchases post in Fiscal 2024 (primarily this pertains to unrestricted funds), these transactions need to be made before June 21st.
- Due to normal delays in posting from Chase to Concur, a Procard purchase made on or after June 22nd will likely be posted on the JULY Procard Statement Report and consequently into Fiscal 2025.
Statement Report Submission and Approval
- It is extremely important that ALL outstanding Procard Statement Reports are approved before we close the fiscal year.
- Procard activity is posted to Banner/GLez only after the reports are submitted and approved. Until then, they remain in a clearing account and are not properly applied against the applicable research, discretionary, or administrative account.
- The last date to approve reports to ensure they are recorded in Fiscal 2024 is Thursday, July 4th.
Process for Unsubmitted/Unapproved Reports
- If any statements fail to be submitted AND/OR approved by fiscal year close, all transactions will be assigned to the cardholder's default FOP and the Supplies Expense Type/Account (72001). When these reports are eventually submitted, no allocations to other FOAPALs (including Expense Type) should be made.
- Please note we are unable to move Procard transactions posted after the fiscal year close back into Fiscal 2024 (the "old" year). If you need Procard purchases to be posted in Fiscal 2024, please review your current budget and purchasing needs and plan accordingly.
- While restricted account (e.g., research or discretionary) balances roll over into the new fiscal year, it is always best to have transactions posted in the proper period.