ACPE Manuals

Corporate Credit Cards

Corporate credit cards may be issued to ACPE staff, ACPE Board Chair and Chair-Elect as determined necessary by the Executive Director.

The cardholder is responsible for the safekeeping of the card and will be held accountable:

  1. To ensure that the card is used only for legitimate ACPE business purposes and in accordance with current policy;
  2. To provide supporting documentation (as defined below) by uploading the receipts to the reconciliation interface;
  3. To advise ACPE of any incorrect charges in order to obtain credit if warranted;
  4. To report any fraudulent or unauthorized use to the Business Manager;
  5. To immediately report a lost or stolen card to the credit card company and to ACPE.

For each credit card purchase, supporting documentation must be obtained and include the following information:

  1. Amount, date, time and location of purchase
  2. Detailed receipt of the items/services purchased
  3. General ledger account and program to be charged

According to IRS guidelines, amounts paid for benefit of employees which are not adequately documented as business expenses are to be considered personal expenses. Employees that use the credit card and do not submit the required supporting documentation in its entirety by the established due date are required to repay ACPE for the expenditures. If not repaid, the expense will be considered compensation to the employee and included on Form 1099 to the employee.

If a receipt is lost, the cardholder is responsible for completing a lost receipt form or other comparable documentation. The form should detail the pertinent expense information as listed in the supporting documentation section of this policy. Chronic use of the lost receipt procedure may result in the cancellation of the credit card.

Rewards earned on any company credit card are property of ACPE.

Credit card transactions are accounted for on a monthly basis, by the cardholder, through the issuing bank’s online reporting system. Receipts must be attached for each transaction. The card holder selects the respective accounting code in the online system. The completed report is then submitted to the assigned approver for review.

Approvers review each transaction and supporting documents to ensure compliance with all ACPE financial policies. Once the review is satisfactorily completed, the approval is given through the online system. Approvals are as follows:

  • Executive Director’s monthly statements are reviewed and approved by the ACPE Treasurer
  • Chair, Chair-elect, Business Manager and all Directors are reviewed and approved by the Executive Director
  • Staff is approved by the Associate Executive Director

Any statement that bares a transaction exceeding normal business expenditures and requires additional approvals will be printed and submitted to the next level approval as required in Expenditure Approvals as detailed in this manual.