Step 1
Identify Need
Step 2
Initiate Purchase
Step 3
Take Delivery
Step 4
Reallocate Charges
Step 5
Approve Transaction
Step 6
Pay
Step 7
Track and Improve

Purchasing Card - Step 4

When a cardholder places an order with a supplier using the purchasing card, the transaction is charged to a temporary holding account (called a default account) associated with the cardholder's School/Center department or office. Therefore, transactions must be distributed to the correct account according to the business purpose (grant, project, etc.) given by the cardholder in Step 2. At the end of each week, the reallocator changes the charge from the purchase default account to the correct charge account (i.e.: changes the fund object code, CREF, etc.) via BEN Financials.

ALL FAQs

PRINT

EMAIL

Step 4 FAQs

How do I reallocate charges?: Purchasing card transactions are imported to the ledger as unposted journals (in BEN Financials) on a weekly basis. The unposted journals are available for reallocation for one week. For further information on re-allocating charges please refer to the Manual Journal Entry User Guide at http://www.finance.upenn.edu/ftd/documentation.shtml
How will my department be charged for my purchasing card transactions?: Your department will be charged for your purchasing card transaction(s) based on the default chart of account that was entered on your purchasing card application. Purchasing card transactions are imported to the ledger (in BEN Financials) on a weekly basis. Questions regarding the validity of your purchasing card's default chart of account should be directed to your School/Center senior financial officer.