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P-Card Posting Setup

P-Card posting is typically a 2-step process: pay the P-Card vendor, then reconcile the P-Card charges.

Pay the P-Card Vendor

The district pays the P-Card vendor (the bank) for the credit card charges.

The entry would be as follows:

  • Debit: Credit card payable (a contra liability), or credit card receivable, or a default expense account for each card holder

  • Credit: Cash

This entry can be recorded as an accounts payable entry using APOHININ or APOHBTUB where the expense account is the Credit Card Payable account or as a journal entry.

Reconcile the P-Card Charges

The individual card holders (or their representative) reconcile the charges on the P-Card.

If all charges ae reconciled to an appropriate district expense account, the entry would be as follows:

  • Debit: Expense cccount entered by reconciler

  • Credit: Credit card payable

Recommended Setup

NUUPCD

Create a CKID to reconcile the credit card payable credit. This is the account where the P-Card payment (credit) is posted.

Common Code CKID/##

Identifies the account to credit for the P-Card payment.

Code category: CKID

Code Value: PC

Short Description: Not required.

Med Description: Used to describe this common code.

Long Description: Used to describe this common code.

Numeric Values

Numeric Value 1-5: Reserved for future use.

Associated Codes

Associated Code 1: Balance Sheet Key that owns the P-Card Liability.

Associated Code 2:  Object Code for the P-Card Liability.

Associated Code 3-5: Reserved for future use.

Associated Descriptions

Description 1: Describes the Key from Associated Code 1.

Description 2:  Describes the Object from Associated Code 2.

Description 3-5:  Reserved for future use.

GLUTSPSI

Review the posting setup to verify that the correct entries will be made when posting P-Card transactions to the general ledger (GL).

In the Credit section, add or confirm a record exists with the settings:

  • Org Key/Object: CKKEY CKOBJ

  • Lg: GL

  • LTD: TNC

  • V: D

  • PCi: Blank

  • Fund: Blank

The Credit entry CKKEY CKOBJ pulls account information from the CKID common code for the credit. If the CKID/PC common code is set up as recommended and used for P-Card entries, it will create accurate entries without needing posting modifications.

If your posting setup is different than recommended, modification may be needed.

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