Postal Service™ purchase cards, under the government-wide General Services Administration (GSA) SmartPay® program, are an essential local buying tool. When purchases cannot be satisfied in-house or through eBuy2 catalogs, the purchase card is the preferred method for paying for day-to-day operational needs. The cards allow us to expedite purchases, receive refunds at the corporate level, and cut back on administrative costs.
The purchase card reconciliation process ensures that USPS® is only charged for goods and services it receives. Sarbanes-Oxley Act (SOX) testing will resume this month to ensure that all controls are properly executed and the process is functioning as intended.
All reconciliations and certifications are due by the 18th of each month for the previous month’s card activity.
To support the reconciliation process, purchase card holders should always do the following:
n Reconcile each bank-issued Statement of Account with purchases made for billing accuracy.
n Ensure supporting documentation is on file consistent with Handbook AS-709, Purchase Card Policies and Procedures for Local Buying.
n Submit reconciled Statement of Account and supporting documentation to their credit card approving official (CCAO), allowing sufficient time for their reconciliation.
CCAOs should then do the following:
n Perform reconciliations before the next cycle date for their active cardholders, and also following any cardholder account termination.
n Use the CCAO Account Detail and Summary Report in conjunction with cardholder records to ensure accuracy of billed amounts.
n Check to be sure purchases are for official use, local buying procedures were followed, and supporting documentation is consistent with Handbook AS-709 requirements.
For more information on the purchase card reconciliation procedures, see Handbook AS-709, Subchapter 42, Reconciliation Procedures. More information about purchase card controls is also available in the latest Financial Aid Guide at http://blue.usps.gov/sox/_pdf/Current_Financial_Aid_Guide.pdf.
— SOX Management Controls and Integration,
Controller, 12-16-10
