Purchasing Card Reallocation

Click here for Purchasing Card Reallocation

What is a Reallocator?

A Reallocator is a person assigned by your department who then becomes the one responsible for accessing the web-based Reallocation program for each Purchasing Card assigned to them. This web-based system is where transactions made on the card can be charged to any chartfield that the reconciler has been given authorization.

How do I add or delete Chartfields for a Purchasing Card?

Use the Update form. Be sure to acquire the Principal Investigator’s signature of any Chartfields you are adding.

What is expected of a Reallocator?
Paperwork:

• Sign on to the Reallocation system often
• Verify that you have receipts for the transactions that appear for each cardholder
• Monthly hard-copy purchasing card statements will be sent to you in behalf of all the cardholders that you have reallocation responsibilities for. Make sure these statements get signed by the individual cardholder and the appropriate “authorized signature“.
• Keep statements and all accompanying documentation in an orderly manner and retain it within your own departmental files. Preferably, each hard copy statement will have the receipt or other documentation stapled directly to it for each and every transaction that appears on the statement.
• Keep purchasing card records for seven years

And In The Future:

• Notify the Purchasing Department of cardholder or reconciler changes, chartfield string additions or deletions, or other status changes

How is reallocation done?
Reallocation of the card is accomplished online via a web-based, secure reallocation program. Each reallocation of an individual transaction takes just seconds.

• Access is given to this program by the Purchasing Department after the reconciler has attended training
• Complete instructions are given during training
• The designated Reallocator should sign on to the system often to check activity on those cards assigned to him/her
• The online reallocation program has a time limit of approximately 20 minutes only if left unattended

What happens in the Reallocation system on the monthly cut-off date?

There is always a cut-off date for the previous month’s transactions made on any person’s card. The date is in place so that each of those transactions “fall off” the system and are no longer available for reallocation online. The cut-off dates are posted on the Campus Information System under the Administrative Financials pagelet called “Accounting Calendar“. The cut-off date occurs 5 business days into the next month at 5 PM.

Any transaction that has not been reallocated will be charged to the default chartfield string assigned to the card. All purchasing card transactions appear in Management Reports as a journal source of “PC”.

What transactions are removed from Reallocation system after the cut-off date/time?

Anything with a date in the “Post Date” column of the previous month. For instance, if the cut-off date is June 5th, anything with a “Post Date” of May xx will no longer be available.

Is the cut-off date firm?

The cut-off date is set by General Accounting and is necessary for PeopleSoft monthly closing processes. It will be strictly adhered to.

How do I find the cut-off date for P-Card Reallocation? 

The cut-off date for the P-Card Reallocation is the 5th business day into the following month at 5 PM.  There is also a list of dates on the Accounting Calendar, located in the Financial & Business Services pagelet in CIS under Resources and Information.

What happens if I do not reallocate in time?

Paperwork! The Journal Entry  process must be completed for each transaction needing to be addressed. Caution: sometimes the web becomes slow as many people try to access online reallocation close to the reallocation cut-off time.

How do I become a Reconciler/ Reallocator?

Your name should appear on page 1 and a signature required on page 2 of the Purchasing Card Application of the cardholder for whom you will be the Reallocator. If you are replacing a current reconciler or being added as a secondary reconciler, you merely need to submit an “Update” form and attend training.