Posted Pending and Adjustments
Posted Pending is a tool that allows the P-Card administrator to send transactions to STARS in order to meet the bank’s payment due date, even if the transactions have not yet been verified or finally approved.
When these transactions are verified and finally approved in P-Card, P-Card will make the necessary adjustments (TCs 27A and 27B) to correct the expenditure coding.
Only the P-Card administrator can execute the Posted Pending option. The process is best run at the end of the day before 5:00PM MST to give approvers a chance to approve transmittals before you run the process.
Only the P-Card administrator can execute the Posted Pending process.
1. On the P-Card main menu, select Admin.
2. Select Posted Pending.
Figure 1 - Posted Pending on the Admin screen
On the Posted Pending Maintenance screen are two options - Execute Posted Pending and Roll Back Posted Pending
Figure 2 - Posted Pending Maintenance
3. Select Execute Posted Pending. The application will search for all transactions that have not been finally "Approved" and then flag those transactions as "Posted/Pending".
4. Enter a date range or select a range using the From Date and To Date calendars. Use dates from the first of the month to the end of the month.
Figure 3 - Execute Posted Pending
5. Select Execute Posted Pending, and then click Execute Posted Pending.
6. Click OK when prompted that records will be marked as posted pending.
The P-Card transactions still must be verified and/or approved.
1. When Posted Pending is executed, P-Card will search for all transactions that have not been “final Approved". P-Card then 'flags' those transactions as "Posted/Pending". P-Card will send those Posted Pending transactions to STARS at the end of the day (5:00PM MST).
2. P-Card will then generate a TC 228 or a TC 235 to post the expenditure to STARS, and to establish a liability in the GL 2105 account in the correct month (P-Card batches do not affect cash. Cash is only affected you pay the bank and when P-Card makes its automatic adjustment transactions).
3. Any transactions that do not have a STARS Vendor Number and Suffix at the time Posted Pending is run will be assigned POSTPEND0 00 as the vendor number. This will allow Posted Pending transactions to process in STARS without error.
4. Transactions still need to be verified and/or approved in P-Card.
6. When Post Pended transactions are finally approved in P-Card, P-Card will make the necessary adjustments (TC 27A and TC 27B) automatically to correct the expenditure coding (see below).
7. If a transaction does not have a STARS Vendor Number and Suffix, P-Card will use POSTPEND0 00 as the vendor number on the 27A adjustment transaction code.
P-Card will make adjustment transactions automatically when the Posted Pending transactions are finally approved in P-Card.
The adjustment transactions will repost with the actual STARS Vendor Numbers entered on the transactions (or will post with a generic P-Card vendor number if the STARS Vendor Number is not valid).
When adjustment transactions (TCs 27A, 27B or 27C) are uploaded to STARS, the CI field will be set to spaces (blank), even if something was entered in it in P-Card. Transactions that need the CI field will need to be corrected in STARS.
When Posted Pending transactions are finally approved, adjustment transactions will post to STARS with 27A, and 27B, or27C, and 27C R (Reversal) transaction codes. The Effective Date of the adjustment transactions is the date and time on which they are approved (when approved before 5:00PM MST. If approved after 5:00PM MST, the Effective Date will be the following date).
These entries will post as follows:
Posted/Pending Original Entries Reverse
Posted/Pending Adjustments
Neither the reversal nor the adjustment will post to the GL 2105 liability account, so your liability account will remain in balance and the reversal and adjustment will offset in the Cash account.
To identify transactions that have been post pended, but not yet approved, select the transmittal in the Approver or Approver All menu. The Pe check box will be checked, but one or more Approver check boxes will not be checked.
Figure 4 - Pe Check box