What is one of the cardholder's primary responsibilities regarding GPC accounts?

What is one of the cardholder's primary responsibilities regarding GPC accounts?

• A. To ensure card usage is kept confidential
• B. To maintain accurate records and reports
• C. To review vendor ratings only
• D. To increase the card's credit limit as needed

Answer: (B)

Maintaining accurate records and reports is a crucial responsibility of the cardholder with respect to Governmentwide Commercial Purchase Card (GPC) accounts. This responsibility ensures that all transactions are documented properly, which aids in accountability, compliance with procurement regulations, and financial oversight. Accurate recordkeeping enables the organization to track spending, identify areas for savings, and provide necessary documentation for audits and reviews. Additionally, keeping detailed reports helps in managing the use of the card effectively and safeguards against unauthorized purchases or misuse of government funds. This level of diligence ultimately contributes to the integrity of the GPC program as a whole.

Maintaining accurate records and reports is a crucial responsibility of the cardholder with respect to Governmentwide Commercial Purchase Card (GPC) accounts. This responsibility ensures that all transactions are documented properly, which aids in accountability, compliance with procurement regulations, and financial oversight. Accurate recordkeeping enables the organization to track spending, identify areas for savings, and provide necessary documentation for audits and reviews.

Additionally, keeping detailed reports helps in managing the use of the card effectively and safeguards against unauthorized purchases or misuse of government funds. This level of diligence ultimately contributes to the integrity of the GPC program as a whole.