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FINANCIAL AFFAIRS

PCard Reconciliation Process Re-Invented!

What’s happening?

Over the past several months work has been underway to improve the PCard reconciliation process by automating workflow, enabling attachments and reducing keystrokes for the user.  Once launched PCard transactions will appear in Mosaic’s Travel and Expense module.

As part of these changes, we have provided the ability for all reconcilers, approvers and users responsible for financial reporting to view Travel and Expense report details at any time either directly or through drill down capability in reports and queries.

When will it happen?

December 2021 PCard transactions will be loaded into the cardholder’s ‘My Wallet’ on January 10th, 2022.

Why is this happening?

In response to feedback from end users, the new PCard reconciliation process will leverage system workflow, provide the ability to add attachments, reduce keystrokes and eliminate the practice of hardcopy reports changing hands throughout the university.

How will it happen?

After January 10th users with the following security profiles in Mosaic can reconcile and submit for approval PCard transactions in the Travel and Expense module.

  • Claimant
  • Delegate
  • PCard Reconciler

What actions are required?

  • PCard holders who do not reconcile their PCard transitions must identify a delegate/proxy.
  • For cardholders who completed the PCard survey that was emailed on November 10, 2021 or provided by separate email to Kathryn Wright, we have ensured that your Travel and Expense profile lists those users as delegates to enable them to complete your reconciliation on your behalf.
  • If you require someone new to be set up as a delegate, you can follow these instructions or contact aphelp@mcmaster.ca

PCard transactions from November, 2021 and prior must be reconciled in the ‘old’ system no later than February 28, 2022.

  • Transactions that are not received in Accounts Payable by February 28th will be charged to the default chartfield on the cardholder’s application form. All supporting documentation for these transactions must be maintained by the cardholder or their department for audit purposes.  The cardholder or their department will be responsible for preparing the journal entry to charge the transactions to the proper account numbers.

Where to go for help/training

There are a number of resources available to support you with this transition:

  • Training sessions will be offered Tues to Thursday, 4 times a day during the weeks of January 3rd, 10th, 24th and 31st. You can sign up for these sessions via The Mosaic Learning Hub here (ensure you’re connected to VPN)
  • Training documentation can be found under support and documentation-how to guides within Mosaic under the section *New PCard Reconciliation*
  • Training and PCard Reconciliation, contact: aphelp@mcmaster.ca

BMO Spend Dynamic support, Kathryn Wright: kwright@mcmaster.ca