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Corporate card transactions should be reconciled in a timely manner. All transactions should be reconciled on an expense report in NUFinancials and approved within 30 days after the transaction occurs.

  • Best Practice: Weekly reconciliation
  • Required: Monthly reconciliation
  • Please note that it is not necessary to process each transaction individually

The process for reconciling transactions is as follows:

  • Transactions are automatically loaded into My Wallet, which is a module in NUFinancials
  • Cardholders or their proxy prepare an expense report in NUFinancials, pulling the transactions into the expense report from My Wallet
  • Receipts need to be electronically attached
  • The chart string and account code need to be verified
  • A detailed line description (what was purchased, reason for the purchase) needs to be included for each transaction
  • If a proxy prepared the expense report and submitted it on the cardholder’s behalf, the cardholder will need to approve their expense report first in NUFinancials
  • The expense report will then route to supervisor for approval

The cardholder’s supervisor should verify that the purchase was appropriate and adhered to purchasing policies. The Corporate Card office should be contacted if inappropriate purchasing is identified.

Cardholders who have transactions in My Wallet for more than 90 days will have their account suspended until the transactions are reconciled on an expense report.

If an unauthorized charge (personal purchase, against policy, etc.) is made on the card, it must be reconciled on an expense report as a credit. The employee must reimburse the University via personal check when submitting the expense report. Accidental personal use of the card should be immediately reported to the Corporate Card office.

Training information on how to process and expense report for transactions in My Wallet is available on the myHR Learn website.

Resolving Errors and Disputes

In the case of an error, please contact the vendor first as most disputes can successfully be resolved this way. If you are unable to reach an agreement with the vendor, please contact the Corporate Card office for assistance.