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The B.E.S.T. Bulletin

Business Expense Survival Tips

- July 2008 -

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CMU Business Credit Card Reconciliation Form

All original receipts including the JP Morgan Chase billing statement are to be attached to the CMU Business Credit Card Reconciliation form. The completed form must be signed by the cardholder and their dean, department chairperson, or direct supervisor and mailed to the Payroll and Travel Services department, WA 204, by the 15th of the following month for auditing. Example: The June statement that closes on the 24th would be due July 15th.

  • Itemized receipts are required for all purchases except per diem meals while traveling.
  • Out of pocket expenditures the cardholder has made during the month (i.e. tips, taxis, fares, etc.) must be itemized on the CMU Business Credit Card Reconciliation form as well. The cardholder will be reimbursed for these expenses after audited by Payroll and Travel Services. Do not turn in a separate form with out of pocket expenses.

All cardholder records will be retained centrally by the Payroll and Travel Services department for three (3) years. The cardholder department must keep copies of their credit card statements for reconciling their budget, but they do not need to keep copies of receipts unless directed by their dean, department chairperson or direct supervisor.

 

Reconciliation Form Approval

The cardholder and either the cardholder’s dean, department chairperson, or direct supervisor must sign and date the CMU Business Credit Card Reconciliation Form prior to turning it into Payroll and Travel Services.  If a cardholder is going to be out of the office when the reconciliation form is due, it is their responsibility to make arrangements to have the form completed prior to being gone.  Reconciliation forms that are turned in without a cardholder signature will be held in the Payroll and Travel Services office until the cardholder returns to work.

 

 

Statistics for the June Statement Period (05/25/08-06/24/08)

Total Spend                                    $701,017.28

Total Number of Transactions              4183

Average Charge                               $167.59

Open Credit Cards                             740

Cards with Activity                            493

 

Thanks,

Payroll and Travel Services

 

Cindy Smith     7363     smith1cl@cmich.edu

Chris Zalud      3525     zalud1ce@cmich.edu

Kim Wagester 7388     wages1ka@cmich.edu

Sara Yonkey    3797     yonke1sl@cmich.edu

Mary Hill          3481     hill1mm@cmich.edu