How does the GPC transaction log assist cardholders?

How does the GPC transaction log assist cardholders?

• A. It keeps a record of personal purchases
• B. It helps to document all transactions for accountability
• C. It predicts future purchases
• D. It is used to control employee behavior

Answer: (B)

The GPC transaction log is designed primarily to document all transactions made with the Governmentwide Commercial Purchase Card (GPC). This comprehensive record is essential for ensuring accountability within government purchasing processes. By maintaining a detailed account of every transaction, cardholders and their respective organizations can effectively track expenditures, verify compliance with procurement regulations, and provide an audit trail for financial oversight. The transaction log serves multiple purposes, including aiding in reconciliation of charges against invoices and verifying the legitimacy of purchases. This level of documentation is vital for maintaining transparency and integrity in government financial practices, making it a crucial tool for cardholders in managing their responsibilities effectively.

The GPC transaction log is designed primarily to document all transactions made with the Governmentwide Commercial Purchase Card (GPC). This comprehensive record is essential for ensuring accountability within government purchasing processes. By maintaining a detailed account of every transaction, cardholders and their respective organizations can effectively track expenditures, verify compliance with procurement regulations, and provide an audit trail for financial oversight.

The transaction log serves multiple purposes, including aiding in reconciliation of charges against invoices and verifying the legitimacy of purchases. This level of documentation is vital for maintaining transparency and integrity in government financial practices, making it a crucial tool for cardholders in managing their responsibilities effectively.