Workday Deadline: Balances in PCard Clearing Account (61206)
A university-wide deadline for moving balances out of the PCard clearing account (61206) is set for December 30, 2020 (coinciding with the final reallocation deadline in Peoplesoft). These balances represent unreconciled transactions on PCards assigned to the college/department units.
One of the responsibilities associated with maintaining a PCard is the regular reconciliation and clearing of all activity posted to account 61206. All charges posted to this account must be reallocated to the appropriate expense account in order to satisfy the university's external reporting requirements.
If a chartfield combination in your unit has an unreconciled balance, you must clear this balance by posting a journal entry crediting account 61206 and debiting the appropriate expense account. Additional detail on these charges can be obtained by running the PCard Reconciliation Report (APU128DW) in the eReports portal.
It is critical that all charges in the PCard clearing account be reallocated to the appropriate expense account by December 30, 2020 in preparation for the implementation of Workday. The PCard Office will continue to monitor account 61206 to ensure that charges are being cleared.