We wanted to follow up with the discussion from our last French Toast Friday session from January 28th, regarding the PCard Holding Account which needs attention.
As we discussed, the purpose of using the GRT Dummy Grant Accounts for PCard, is the ability to allocate transactions to different Grant Accounts within PaymentNet. Transactions should not be hitting the dummy account if they are being allocated to the proper account in PaymentNet.
All expenses that post to the dummy PCard account are required to be moved off within 5 days per ASU financial policy. This account cannot hold expenses or revenue. As part of expenditure monitoring, Fiscal Oversight will monitor the PCard Holding Account report to ensure expenses are posted accurately.
To verify if any expenses have posted to the PCard Holding Account for your department, please use the Workday report Expenditure Monitoring – PCard Holding Account Balances. You can use the report to lookup expenses by Cost Center
Please have your department move the expense(s) off by March 1st using the normal cost transfer process. If no action is taken, expenses will be moved by FOT to the department’s RID account to comply with ASU Business and Finance Policy.
By Research Operations