Using PeopleSoft Financials for purchasing card (PCard) reconciliation?

Original post:

Leonie Fedel, The J. Paul Getty Trust

We are considering switching our purchasing card (PCard) reconciliation from the bank issuer's online platform to doing within PeopleSoft Financials, and looking for feedback from the online community: • Do you use PeopleSoft Financials for your PCard reconciliation? • How did implementation go, any issues/best practices to share? • Do you use the bank's file, or receive a feed directly from Visa/MasterCard? • How often do you upload in Financials? • Does your import file already contain Accounting code chartfields matched to MCC, or do cardholders manually enter g/l accounts into each transaction within Financials? • Do you use ProCard POs? • Do you handle disputes, fraud or canceled cards within Financials, or continue to manage these seperately on the bank's platform?

Many thanks, Leonie Fedel

Replies:

Alicia Kinsey, KAR Auction Services, Inc.

We use the delivered PCard functionality to import the bank statements, update the accounting and feed to AP for payment. Our issues are mainly due to the fact the the AP department does all the updating of the PCard transactions. The delivered functionality was really built based on the card holder updating their own transactions. So, we have had to customize the PCard Reconciliation search page a great deal. We do have the accounting default, but almost all the transactions have to be updated due to the large number of business units and departments that we have. We use pcards to buy everything, but do not have POs, so it has definitely been a challenge. We are trying to figure out a way to better handle the updating of our pcards. I would love to hear what you decide to do.