What are three pieces of information that should be included in the Cardholder Purchase Log?

What are three pieces of information that should be included in the Cardholder Purchase Log?

• A. Name of the requestor
• B. Date on which the item/service was ordered
• C. Total dollar value of the transaction
• D. Cardholder's personal identification number

Answer: (A)

The inclusion of the name of the requestor in the Cardholder Purchase Log is essential for several reasons. Recording the requestor's name provides clear accountability and traceability for purchases made using the Governmentwide Commercial Purchase Card (GPC). This practice ensures that there is transparency regarding who is requesting specific products or services, which can be vital in an auditing situation. It allows organizations to track expenditures effectively and reconcile statements accurately. Additionally, having this information can help in maintaining communication related to orders, facilitating any necessary follow-up regarding the delivery or receipt of items. While it is important to document the date on which the item/service was ordered and the total dollar value of the transaction for record-keeping and financial tracking, the question specifically focuses on identifying three critical pieces of information to include in the log. The cardholder's personal identification number is not appropriate to include as it does not serve a purpose in the context of tracking purchases within the log and could lead to security risks. Therefore, including the requestor's name in the log enhances accountability and supports the tracking of expenditures made through the GPC program.

The inclusion of the name of the requestor in the Cardholder Purchase Log is essential for several reasons. Recording the requestor's name provides clear accountability and traceability for purchases made using the Governmentwide Commercial Purchase Card (GPC). This practice ensures that there is transparency regarding who is requesting specific products or services, which can be vital in an auditing situation. It allows organizations to track expenditures effectively and reconcile statements accurately. Additionally, having this information can help in maintaining communication related to orders, facilitating any necessary follow-up regarding the delivery or receipt of items.

While it is important to document the date on which the item/service was ordered and the total dollar value of the transaction for record-keeping and financial tracking, the question specifically focuses on identifying three critical pieces of information to include in the log. The cardholder's personal identification number is not appropriate to include as it does not serve a purpose in the context of tracking purchases within the log and could lead to security risks. Therefore, including the requestor's name in the log enhances accountability and supports the tracking of expenditures made through the GPC program.