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Tuesday, March 3, 2015

PCard / My Wallet and the Upgrade

As part of the Upgrade we are changing where PCard reconciliation happens in the system. We are not changing what the PCard can be used for or who might hold a PCard. People will still buy things with their card, retain/image their receipts, provide business justifications for each purchase, account for the activity, and review/approve the reconciled activity in our financial system.

What is new for PCard cardholders? Cardholders will be able to access their transactions after the Upgrade via the new MyU > Purchasing tab > My Wallet. All cardholders will receive access to My Wallet automatically. An optional, brief training video is available for cardholders here: http://z.umn.edu/mywallet

What can cardholders do in the new My Wallet after the Upgrade? 
  • View details of transactions made with their cards
  • Provide business justifications (view job aid here)
  • Attach images of receipts

Cardholders should check in with their department's finance staff to see how things will work in their area, as each college will determine which process will work best for them, having cardholders:
  • Use My Wallet to provide justifications and attach images
  • Use My Wallet to provide justifications only & turn in paper receipts
  • Continue today's process of turning in everything via paper process

Options for obtaining cardholder signatures (check with your unit finance person to see how it will work in your college):
  • Cardholder can sign each individual receipt; if cardholder signs each receipt, no additional signatures are needed from the cardholder later in the process
  • Cardholder can sign a "page" of receipts to be scanned into the system
  • Cardholder can sign a report at the end of the process, similar to today's process

The purpose of the cardholder’s signature is to document that they’ve seen the receipt and acknowledge they are responsible for the charge and that it is for University business. Physical or electronic “signature stamps” are not acceptable unless the cardholder personally applies the stamp.

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