10-a-010 - Processing P-Card Transactions during SMART Implementation (March 3, 2010)
|INFORMATIONAL CIRCULAR NO. 10-A-010|
|DATE:||March 3, 2010|
|SUBJECT:||Processing P-Card Transactions during SMART Implementation|
Special Procedures for Processing P-Card transactions during SMART Implementation
Special procedures are required for processing P-Card transactions during SMART implementation.
Transactions included on P-Card Billing Received in June 2010
P-Card transactions included on your agency’s regular P-Card billing received from UMB Bank (UMB) in the month of June 2010 (i.e., transactions posted to P-Card accounts in VISA through the 15th workday of June, which is June 21) and any other historic unpaid amounts that are due to UMB will not be electronically loaded into SMART for reconciliation and payment.
- Pay in STARS by June 29, 2010, or
- Historic unpaid amounts that are due to UMB must be encumbered to assure that previous fiscal year funds are available to settle old debts.
Note: If an agency does not remit payment for historic unpaid amounts due to UMB, UMB may retain the agency’s annual rebate for the BPC, up to the amount of the historic unpaid amount that is due to UMB.
- Encumber with a Form DA-107 in STARS by June 29, 2010, if not paid in STARS. Use UMB as the vendor
- The encumbrance will be converted to a Purchase Order (PO) in SMART and will be paid with a voucher in SMART. (The voucher will link to the PO.)
June P-Card Transactions Subsequent to the P-Card Billing Received in June 2010
P-Card transactions posted in VISA during the June 22 through June 30 period will be electronically uploaded, reconciled and paid in SMART, regardless of whether it is to be paid with fiscal year 2010 or 2011 funds.
- Encumber funds with a Form DA-107 in STARS by June 29, 2010, if payment is to be made with 2010 funds. Use the merchant as the vendor on the DA-107.
- The encumbrance will be converted to a Purchase Order (PO) in SMART and linked to the P-Card transaction(s) during reconciliation. SMART will generate a voucher for reconciled transactions.
- When calculating encumbrance amounts, we suggest that agencies contact UMB in advance to request a report of transactions that posted in VISA during the June 22 through June 25 period and then estimate amounts that will post in VISA during the June 28 through 30 period.