Purchasing card transactions deadline is May 22
May 02, 2013
May 22 is the cut-off date for 2012-13 purchases using the purchasing cards and all 2012-13 receipts must be signed off and submitted by June 7, 2013.
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Purchasing Card Users:
As we approach the close of the current budget year, 2012-13, please note the following:
1. Wednesday, May 22 will be the cut-off date for purchasing card transactions for the current year. Purchases made with your business credit card on or before May 22 will be charged to the 2012-13 budget period. Purchases made after this date will be charged to the 2013-14 budget year.
2. If you use your card on or before May 22 to pay in advance for an expense that should be charged to the 2013-14 period (for example, to purchase airfare for a trip that will occur in June, or to pay for equipment that will be delivered in June), the purchase should be charged to object code 1810 “Pre-paid Expense.” When signing off for the transaction in the Bank of America WORKS on-line reporting system, assign object code 1810 and the appropriate department. In the receipt information field, indicate the correct account that should be charged in the 2013-14 budget (7000 Travel, 6220 Equipment, etc). The Business Office will prepare a journal entry to charge the expense accordingly.
3. Please sign-off for all purchasing card transactions for the May 2013 billing period no later than Friday, June 7.
4. Please submit your Billing Statement and receipts for the May 2013 billing period to the Business Office no later than Friday, June 7.
Thank you for complying with these requirements to assist with the year-end cut-off process. If you have any questions or concerns about this please contact me.
Purchasing Card Program Administrator
Phone (503) 768-7798