PurCard data is processed by Mellon Bank daily and information about each transaction downloaded to UVM within 24 hours of the time the transaction is posted by the bank. Once in our system, transaction data is processed and two files are created. Encumbrance transactions are created and fed nightly to FRS to encumber funds equal to the purchase amount. Additionally, a journal entry is created and made available for reallocation in the PCRD software within FRS.
You have 10 days, once your monthly statement is received, to reallocate your purchases to other budgets or subcodes. It is possible to apportion charges back to the original account or reallocate to any other authorized account during this time. Once expenditures have been charged to budgets, any changes will have to be submitted to the Accounts Payable department via journal entry. Your cooperation is essential to the smooth operation of the PurCard program.