Effective immediately, Handbook AS-709, Purchase Card Policies and Procedures for Local Buying, September 2008, is revised as follows:
n The time period for maintaining purchase card records for both cardholders and credit card approving officials (CCAOs) has been changed from 2 years to 3 years.
n Cardholders and CCAOs must keep all purchase card records for 3 years.
Handbook AS-709, Purchase Card Policies and Procedures for Local Buying
1 Introduction
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17 Responsibilities
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176 Agency Program Coordinators
***APCs have the following responsibilities:
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[Revise item d of 176 to read as follows:]
d. Setting up and updating cardholder and CCAO accounts, and maintaining documentation (for years following account close).
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2 Cardholder and Approving Official Account Setup and Update
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22 Updating Accounts (Cardholder and CCAO)
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222 Responsibilities
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222.3 APC
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222.33 Recordkeeping
Revise the last sentence of 222.33 to read as follows:]
***Individual CCAO and cardholder records forwarded to you when an account is canceled and there is no successor to retain records must be retained for 3 years from the date of the account closing (i.e., final statement of account).
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3 Cardholder’s Local Buying Procedures
31 Your Responsibilities
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314 Maintain Accurate Records
[Revise the first sentence of 314 to read as follows:]
You are responsible for maintaining accurate and complete records of all Purchase card transactions for 3 years.***
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4 Cardholder and CCAO Reconciliation Procedures
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42 Reconciliation Procedures
421 Overview
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421.1 Reconciliation Process Cycle Time
***Here are the guidelines to ensure timely processing:
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[Revise the 4th bullet of 421.1 to read as follows:]
n The cardholder retains all documentation for 3 years from the date of the bank statement of account, and the CCAO retains the bank issued account detail and summary report for 3 years from the date of report.
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422 Cardholder Procedures
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422.5 Documentation Retention Period
[Revise the second sentence of 422.5 to read as follows:]
***Retain all purchase documentation for 3 years from the date of each statement.***
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[Revise the text in the callout box next to 422.5 to read as follows:]
The cardholder retains all purchase documentation for 3 years from the date of each statement.
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423 CCAO Procedures
423.1 CCAO Process Overview
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[Revise the last sentence in the second paragraph of 423.1 to read as follows:]
***You retain the bank-issued account detail and summary report for 3 years from date of report.
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423.5 Documentation Retention Period
[Revise 423.5 to read as follows:]
Keep the bank-issued CCAO account detail and summary reports for 3 years from the date of report. If a cardholder’s account is canceled, obtain his or her credit card purchase documentation and retain it for 3 years from the date of the last statement of account. If your account is canceled, turn over all CCAO documentation and any cardholder documentation to the new CCAO for retention; or, if there is no new CCAO, turn over to your APC for the remainder of the retention period. The CCAO is also required to maintain a listing of assigned cardholders (current and accounts closed within 3 years). See 222.23.
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Reproducible Documents
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SMARTPAY® Purchase Card Program, page 1
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Local Buying Procedures With Reference Card
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6. Things to consider when verifying payment accuracy (337):
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[Revise last sentence in item 6 to read as follows:]
Did I get my statement, certified by the CCAO (signed and dated), and supporting documentation back for retention (3 years)?
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We will incorporate these revisions into the next printed version and into the online update of Handbook AS-709, available on the Postal Service™ PolicyNet website:
n Go to http://blue.usps.gov.
n Under “Essential Links” in the left-hand column, click References.
n On the PolicyNet page, click HBKs.
(The direct URL for the Postal Service PolicyNet website is http://blue.usps.gov/cpim.)
— Supply Management Infrastructure,
Supply Management, 6-18-09
