Credit Card Receipt Coding SOP

Procedure#: HB SOP 26

Function: Management Policies

Implementation Date: 101222

Policy/Purpose:  All credit card receipts for the month need to be accounted for by the 10th of the following month for the previous month AND the first 5 days of the current month (for example September receipts should include September 6th-October 5th).  Receipts verify expenses and allow us to code each transaction so that they can be properly applied to the correct GL code for accounting purposes.  Additionally, timely submission of receipts aids in maintaining financial integrity and transparency within our organization. It also supports the implementation of robust financial controls, including fraudulent gift card detection methods, to prevent misuse of resources. Adhering to these guidelines ensures that our financial reporting remains accurate and compliant with regulations.

Details:

1. Anyone that has been issued a credit card should save all receipts for the month.  For those with a credit card for each location, they should have two folders/filing systems to keep the locations transactions separate.
2. Before the 10th of the following month, all transactions should be recorded on the credit card log with all applicable information including date of purchase, description of item purchased, amount of purchase, merchant name, and GL code.
   1. These transactions need to be listed in order of date, from earliest to latest
3. The Credit Card log is found in the PDF folder under forms and “Credit Card Log”.  If you do not have enough room on one page, you should use a 2nd page.
4. All receipts and credit card log should be signed off on by the user of the card, and submitted to their immediate supervisor for approval.  The approving manager should print and sign their name.
5. The COO will verify that all transactions match what the monthly statement has listed.  Any variances will need to be rectified with the COO emailing the card user and their supervisor a request for missing information.  This request should be followed up on within 3 days.
   1. Any missing receipts should be turned into the COO with the GL Code and Manager initials circled on the receipt