Reconciling

Reconciling the VISA Card Statement

Each Cardholder is responsible for retaining documentation of purchases and returns.  With the aid of your VISA Log Sheet (excel), Cardholders compare charge documentation to the month's VISA charge card statement.

The following guidelines are to be used for monthly reconciliations:

• Each Cardholder will receive a monthly charge card statement, either by mail or by accessing it on the Works Application.  Contact the Materiel Management Office if your statement is not received by the 16th of the month, if receiving it by U.S. Postal mail. 
• All documentation pertaining to the purchases and returns must be matched with the charge card statement. 
• If a purchase does not appear on the VISA card statement, make a note on the VISA Log Sheet (excel), (i.e., NOS - Not On Statement). 
• If an incorrect charge appears on the VISA card statement, treat it like any other purchase for reconciliation purposes since all charges appearing on the VISA card statement must be paid.  See Returns, Credits, and Disputed Items, for procedures on how to handle incorrect charges. 
• TOTAL all charges on the bill by Index Code and Account Code.  Break down all charges by Index Code and Account Code until the charge total of the "Total Amount" column on the Statement Cover Sheet matches the "New Charges" total on  the VISA card statement - VISA Purchasing Card Statement Cover Sheet (pdf)  At the bottom of the cover sheet be sure to figure the 2% charge on purchases that are not covered under the eVA exclusion list.
• After the Statement Cover Sheet (pdf) has been completed by the Cardholder, the Cardholder signs the form as the Cardholder and has the sheet approved by the Approving Supervisor or  Department head.  The Cardholder cannot sign for approval.
• Please complete the Cardholder Checklist and include it with your packet that you send to Accounts Payable - Cardholder Checklist (pdf)
• Make copies of the completed VISA Card Payment records, including your VISA Log Sheet (excel) and any packing slips, etc., for your file.
• Send the original VISA Card package to Accounts Payable by the 7th of the month following the statement date via campus mail.  Do NOT send electronically via email or web as the forms may contain personal information.
• File a copy of the package in your department file in the event that an audit occurs.

Reconciling Credits

It sometimes takes several months for a credit to appear. Credits must be totaled separately from charges.  DO NOT subtract credits from charges.  Payment will be processed in full according to the statement balance.