When can I expect my IT purchases get posted in my ledger or speedchart?

The Finance ledger transactions are dependent on when we are invoiced and whether the purchase is paid with a PCard or Purchase Requisition.

Purchases paid with PCard:

UBC PCard cycle runs between the 16^th and 15^th of every month, which means that all PCard transactions that happen during this time are reconciled by the 25^th. Finance posts the PCard transactions in the General Ledger during the current month. Note that all posted amounts in the ledger includes government tax rebates and does not exactly match the amounts on the invoice. For more information on GST rebates and calculation, visit UBC Finance website. 

The following are different purchasing scenarios to help determine when you can expect your IT purchases to be posted in your ledger.

Scenario 1:  Customer submits an order on January 1^st. Vendor ships and sends invoices on January 11^th. IT PCard is charged on January 13^th. IT reconciles the transaction by the January PCard deadline. This transaction should be posted in the Finance ledger for the month of January.

Scenario 2:  Customer submits an order on January 8^th. Vendor ships and sends invoices on January 16^th. IT PCard is charged on January 18^th. IT reconciles the transaction by the February PCard deadline. This transaction should be posted in the Finance ledger for the month of February.

Scenario 3:  Customer submits an order on January 25^th. Vendor ships and sends invoices on February 18^th. IT PCard is charged on February 19^th. IT reconciles the transaction by the March PCard deadline. This transaction should be posted in the Finance ledger for the month of March.

Purchases paid with Purchase Requisitions:

Work orders purchased with a Purchase Requisition or Purchase Order (PO) are invoiced directly to IT. IT receives and verifies the items, and invoices are approved and signed "OK to Pay" on your behalf. When all items are received, invoices are submitted to Financial Operations for payment. Depending on the invoice due date (most vendors use Net 30), you can expect to see the transactions posted n your ledger within 5 business days.

Visit UBC Finance website for information on specific vendor payments policy.