GAP 200.029, Corporate Cards - Untimely Posting of Transactions

  1. Overview
  2. Untimely Posting General Ledger Accounts
  3. Untimely Posting Schedule
  4. Communications of Outstanding and Untimely Corporate Card Transactions   
  5. Impacts to Cardholders for Untimely Postings

I. OVERVIEW

To ensure the accuracy and integrity of Duke’s general ledger, corporate card transactions must be incorporated into expense reports. These expense reports should have a clearly defined Duke business purpose, include attachments of original receipts, and be submitted into workflow for appropriate approvals.

If corporate card transactions are not included in expense reports or expense reports that include corporate card transactions are not routed for approval in a timely manner, those corporate card transactions will post to the general ledger using specifically designed general ledger accounts indicating the posting was not “timely”. This process ensures that expenses are reflected in the general ledger and highlights those specific cardholders and transactions that were not properly handled. The Duke University Corporate Card Policy for Untimely Postings (pdf) and The Duke University Health System Corporate Card Policy for Untimely Postings (pdf) are the University and Health System policies for this process. The policies outline impacts to cardholders and initiators with transactions included in the untimely posting. The Corporate Card Policy for Untimely Posting Addendum (pdf) should be used with both policies.

II. UNTIMELY POSTING GENERAL LEDGER ACCOUNTS

Two specific general ledger accounts are designated for corporate card transactions included in the untimely posting.

  • 695685 –  Assigned Corporate Card Expenses without Approval
    • Corporate card transactions in this category were included in an expense report that had incomplete approvals. These transactions are posted to the funding sources recorded in the individual expense reports. In the event the funding sources are restricted grant codes, the cardholder’s default travel cost center will be used.
  • 695695 – Unassigned Corporate Card Transactions with No Action
    • Corporate card transactions included in this category are those transactions that had no action taken prior to the published untimely posting schedule. These transactions are posted to the cardholder’s default travel cost center.

III. UNTIMELY POSTING SCHEDULE

All outstanding corporate card transactions with a Settlement Date (Bank of America posting date) prior to the designated dates on the schedule will be charged to untimely posting general ledger accounts as appropriate. The untimely posting schedule can be used to determine those transactions that will be considered.  

IV. COMMUNICATION OF OUTSTANDING AND UNTIMELY CORPORATE CARD TRANSACTIONS

Assigned and unassigned transaction reports are sent to expense report initiators and departmental TRaC reps each Monday to communicate all outstanding corporate card transactions. On the first Monday after fiscal month close, business managers and management centers also receive these reports.

To bring heightened awareness to those corporate card transactions that may be subject to untimely postings, assigned and unassigned transaction reports are sent to expense report initiators and departmental TRaC reps each Wednesday which include only transactions for the upcoming untimely posting. On the first Wednesday after the fiscal month close, business managers and management centers also receive these reports.

Cardholders will receive notifications with unassigned transactions on the first Wednesday of each month.

Cardholders will receive workflow reminder emails with any unapproved transactions in their queue every 15 days. If there are no transactions in their queue, no email will be generated.

V. IMPACTS OF UNTIMELY POSTINGS FOR CARDHOLDERS  

Corporate cardholders are ultimately responsible for ensuring that corporate card expenses incurred on behalf of Duke are included in expense reports with a clearly defined Duke business purpose, are substantiated by receipts, and are routed for approval and posted to the general ledger in a timely fashion. The Duke University Corporate Card Policy for Untimely Postings (pdf) and The Duke University Health System Corporate Card Policy for Untimely Postings (pdf) define the actions that will be taken for cardholders and/or their initiators when assigned and unassigned transactions are posted to the general ledger as untimely.

The Corporate Card Policy for Untimely Postings Addendum (pdf) is used to supplement these policies.