What will happen if a Managing Account Billing Statement is not certified within 90 days of the billing cycle end?

What will happen if a Managing Account Billing Statement is not certified within 90 days of the billing cycle end?

• A. Automatic suspension of all Cardholder accounts
• B. Temporary loss of purchasing authority
• C. Mandatory retraining for Cardholder
• D. Review by the Head of Activity

Answer: (A)

If a Managing Account Billing Statement is not certified within 90 days of the billing cycle end, the consequence enforced is the automatic suspension of all Cardholder accounts. This measure is implemented to ensure compliance with the proper management of the purchase card program and to maintain accountability within the purchasing processes. By suspending the accounts, the program aims to prevent any unauthorized or potentially fraudulent use of the cards until the billing statement is properly certified. This policy underscores the importance of timely reviews and certifications, safeguarding government resources from misuse. The automatic suspension acts as a significant deterrent, emphasizing that timely compliance is crucial in maintaining the integrity of the purchasing system.

If a Managing Account Billing Statement is not certified within 90 days of the billing cycle end, the consequence enforced is the automatic suspension of all Cardholder accounts. This measure is implemented to ensure compliance with the proper management of the purchase card program and to maintain accountability within the purchasing processes. By suspending the accounts, the program aims to prevent any unauthorized or potentially fraudulent use of the cards until the billing statement is properly certified. This policy underscores the importance of timely reviews and certifications, safeguarding government resources from misuse.

The automatic suspension acts as a significant deterrent, emphasizing that timely compliance is crucial in maintaining the integrity of the purchasing system.