We saw the steps for issue of P-Cards, https://faoblog.com/processes-ap-p-card-process-details3-maintenance/
Let’s talk of the following today:
- Maintenance during the card usage period
- Revocation of cards
Ongoing Maintenance – The ongoing maintenance can comprise of the following activities:
- Change of employee particulars, like location, address and telephone number
- Change of card limits, both increase and decrease
- In some cases the tax jurisdiction information may need to change
- Query handling for basic inputs about the card – benefits and responsibility, regarding usage limitations, beyond limit / expense type variation charges / interest
- Helpdesk activities, like incorrect charges, on statement of the card, on interest / penalties debited
Revocation – Revocation of the card is a very critical activity as the organization is liable for its use:
- Build procedures to trigger at the time of termination / movement to another location
- Information to bank / card company, back confirmation and recording of audit evidence
- Handle disputes for usage after intimation of revocation
- Receipt of card / scan a destroyed copy into the ERP as evidence
So you see, even a small little thing as a P-Card can involve so many activities. Companies which are large surely will need a team of people specially for handling this activity.
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We are finalizing the Bank’s fleet cards and I urgently require a draft policy on the card management, reconciliation and payment of the cards. May you please help me with how to draft this policy to present to my manager.
Unfortunately, the policy documents that I have are client specific and I may not be in a position to share them with you. You bank can help you with the same.
In regards to Revocation, I’ve requested & received a report every Monday A.M. from our HR department a report on terminations. This does help to keep a bit of a handle on it.