Question:

What is your approval timeline for compliance purposes?

Expensed and approved within the month incurred

10 days

Our cardholders need to review their transactions within 5 days of posting. After 3 reminder emails their card will be suspended.

5 workdays

All transactions must be reconciled and approved by the last day of month.

Signed statements with backing documentation due to AP by the 15th, late statements accrue violation points

30 days

60 days

Usually 10 Days

45 days from expense = not enforced

We do not have a specified timeline at the statewide level. I it recommended that approvals be complete by the end of the billing cycle for all transactions in that cycle.

by the 25th of the month following the end of the billing cycle

Approvals are required before any p-card applications or any p-card change requests (amounts, name changes, etc) are processed. Transaction approvals are required by the 15th of the following month during the processing period.

Submission of Expense Report within 30 days. Email reminder for Fiscal approval. 1-5 business days for pre pay audit review following the fiscal department level.

Approvals must be done within 7 business days from the first of the month.

First level approvers have 7 days then the repost escalates to Second level approvers who have an additional 7 days. After the 14 days the report gets returned to the P-Card Holder to resubmit for processing.

24 to 72 hours:

Dollar Limit Increases:
See "Increases Procurement Temporary Override Request or Procurement Special Limit Increase Request (Permanent) - Single/Cycle Limits & Merchant Category Code (MCC)" section of this guide.
There are two types of card limits:

Current Purchase Limit/Single Transaction Limit: This is the amount any one transaction cannot exceed – think of it as per swipe of the card. Any charge over this amount will be declined.
A Procurement Temporary Override Request is needed if the PCard holder has a transaction will be meet or exceed the single transaction limit.

Current Monthly Limit/Cycle Limit: This is the total dollar limit of all transactions that can be made in the JPMorgan Chase cycle. JPMorgan Chase Bank cycle period is the 5th of the current month through the 4th of the upcoming month. Charges/Transactions which will cause the cycle limit to be exceeded will be declined.
A Procurement Temporary Override Request is needed if the PCard holder has a total cycle dollar limit of all transactions that meet or exceed the cycle limit.

2 days based on our ERP, no later than period close at the end of the month/fiscal year.

We are a local municipality in Texas (i.e. City). Citi Bank provides our p-card services for our entire organization. Our billing cycle ends each month on the 3rd. Our Accounts Payable department imports the p-card transactions into our financial software, and releases this information to our end user departments to input their expense account numbers and transaction descriptions. They have until the 15th of that month to complete this. Once completed, approvals are released to the department managers and they have until the following week to get approvals completed in our financial software.

The cost center manager approves requests prior to any transactions being made. The approval can vary. There are "standing permissions" for items such as regular monthly billings. Other transactions over a certain limit must have their approval prior to it being made.

Before the next reconciliation deadline

Cardholders have until the end of the following month from the original transaction posting date to complete their Pcard transaction approvals.
(e.g. transactions from the month of May have until 6/30 to be approved, transactions from June have until 7/31, etc.)

30 days after travel and not expensed, on the compliance report
60 days after travel and not expensed, on the compliance report with $100 fine to the department

They have until Finance exports the transactions from the bank system and imports them into our ERP system. This occurs on the second and fourth Fridays of the month.

Our statement period ends on the last day of the month and our staff have 10 days to get their transactions coded and upload the proper itemized receipt documentation.

Transactions must be approved no more than 10 days after the cycle closes.

24-48 hours

Statements some out on 5th. Cardholder must submit report to approver by 10th.
Approver must approve online by 15th.
Signed copy by cardholder and supervisor submitted by the 20th.
Cardholders are not contacted until after the 20th, but receive emails prior to due dates.

Transactions for a given business cycle must be completed before the 1st of
the month (example: transactions for the billing cycle ending May 15th must be
reconiled by June 1st).

All approvals of receipts & statements need to be complete by the last day of the month.

15 days from bank statement date

Reports are required to be submitted monthly, 30 days after the statement is received

We have no deadline for approvers. We have standard approvers for any financial transaction and not just for Pcard, so we work with them to approve in timely manner.

Cardholders have the 1st to the 5th of the month to review and submit their transactions. The approvers have the 6th through the 10th of the month to approve transactions.

5 business days