In the P-Card Solution, the term “dispute” is used differently than it is traditionally used in accounting. A dispute can be as simple as a comment for future reference when the credit for a returned item comes from the bank, or it can be a formal dispute with the bank or supplier.
Marking the transaction as being “in dispute” does not stop the payment process. Even if you do not reconcile the transaction, it will still go through for payment. Therefore, update the comments field regularly so you can keep a history of the dispute. Also contact the supplier and/or bank as soon as you realize there is a problem, so you can receive credit quickly, and keep your paperwork to a minimum.
To Dispute a Transaction: To mark a transaction disputed, click in the box next to the word “Disputed” in the P-Card Transaction Detail window. Although the Comments” field is optional, it is an excellent location to document reasons for disputing transactions or for explaining purchases that may be questioned.
All disputed transactions should still be reconciled and approved. Just remember to take transactions off “dispute” before reconciling or approving.
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You have returned the item and the supplier agreed to send a credit to the bank, or you have exchanged the item and need to track that.
You will use the “dispute” status as a memo to make a note of the fact that there is something unresolved about this transaction. Classify the transaction as being in dispute and enter a short note in the comments area of the P-Card Transaction Detail window indicating that you are waiting for a credit to come from the bank, for the new merchandise to arrive.
You disagree with the supplier over something the supplier must address, such as the price charged, or the amount or condition of the goods delivered.
The cardholder is responsible for follow-up first with the supplier and, if necessary, with Bank One on any erroneous charges, disputed items or returns. A supplier has 30 days to issue a credit. If the supplier fails to issue an anticipated credit in the allowed time period, a formal dispute of the charge should be issued to the bank.
You will use the “dispute” status to remind yourself that this transaction is going to be paid and you must resolve this quickly. You may be expected to handle this by yourself or your department may have procedures you must follow.
You and the supplier have been unable to resolve your differences, and you want to file a formal dispute and have the bank arbitrate.
Follow these steps to handle formal disputed transactions:
The Cardholder should contact the supplier to resolve outstanding issues. Most concerns can be solved in this manner. If the Cardholder is unable to reach agreement with the supplier, then the Cardholder should contact the Bank One Customer Service Center at (800) 316-6056 between 7:00 a.m. and 7:00 p.m., Monday through Friday. The Customer Service Representative will probably give the caller a reference number and provide them with a Statement of Questioned Item form to complete and submit with supporting documentation to the bank. The Cardholder should complete this form, noting the reference number. These forms may be sent by Fax (847-931-8861) or mailed to Bank One, Attn: Disputes Department, PO Box 2015, Elgin, IL 60121-2015.
Contact Bank One regarding questioned items within 60 days of the cycle date (5th of each month). During the investigation, credits will be issued to the Cardholder’s account for the amount questioned. Upon completion of the investigation, the Cardholder will be notified of the resolution. If the dispute is not settled in the Cardholder’s favor, the account will be charged for the disputed transaction amount.
Requests for copies of sales receipts should be communicated to Bank One’s Customer Service. When the request is fulfilled, the Cardholder’s account will be charged $5.00 for each copy supplied.
If the Cardholder is still unable to reach an acceptable solution, call or e-mail P-Card Administrator, Missy Carter at 618-453-5516 or mcarter@siu.edu