Last week, my post covered the workflow for Travel and Entertainment / Employee expenses. http://faoblog.com/processes-ap-tne-ee-workflow/
Doesn’t P-Card also look the same? Well, it is almost the same, except for the fact that there is another entity involved, the bank or a card issuer.
A typical process sequence for a P-Card transaction will be as given below:
- Employee incurs an expense by swiping his purchase card
- Employee submits the expense report with the relevant bills and charge slip copy
- This is scanned and uploaded to a workflow by the mail room
- The document is checked and audited by a team, having access to all the business rules and limits, the nature of expense is specially verified for any personal expenses
- It may be sent for approvals if required
- Once done, hard copy archived
- Amount expense entry triggered or executed to ERP and amount transferred from employee account to expense or relevant capital account
- In case of personal transactions, the employee may need to return some amount by cheque / check.
I will share more on bank side transactions and purchase card maintenance in the next post.
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