January, 2022
Purchase Card Daily Pay & Correction Processing
Daily Pay and Correction Processing are functionalities in Citi for Purchase Card Approving Officials and Cardholders to be made available early in calendar year 2022.
Daily Pay
Daily Pay is transaction-based review and approval completed in Citi Transaction Manager (CTMS). Once a transaction posts to their statement, Cardholders can reallocate immediately and submit a single transaction to their Approving Official (AO) or utilize the Daily Pay feature at the end of the month once the statement cycle closes. Cardholders no longer must wait for a statement cycle to close for status of funds to be impacted by their purchase. Approved transactions will interface into ORACLE and pay within two days of an AO approval.
Below is a side-by-side comparison of our current process vs Daily Pay. The current process requires the statement cycle to close before any reallocation/approval can be made, thus delaying the impact to status of funds. Transactions made under the Daily Pay functionalities will pay at an accelerated rate compared to the current process.
| Transaction Date |
Statement Posting Date |
Submitted/Approved | Payment Date | |
|---|---|---|---|---|
| Current Process | 12/06/2021 | 12/07/2021 | 01/04/2022* | 01/06/2022 |
| Daily Pay | 12/06/2021 | 12/07/2021 | 12/07/2021 | 12/09/2021 |
Correction Processing
Corrections are defined as accounting updates to previously paid invoices. Our current correction process includes customer completion of a standardized template that is submitted via email by the AO or other designee listed on the Delegation of Authority.
As part of the Daily Pay enhancement, Approving Officials will submit Corrections for previously paid transactions through CTMS rather than submitting an email to a group mailbox. Corrections will be generated in the system of record, CTMS, and will allow Approving Officials to reallocate and submit corrections using the same reallocation process used during the original transaction.
We feel that these enhancements will streamline the purchase card process for our customers, while reducing the need for email communication of requests. Additional information regarding transition timelines and training will be communicated in the following month.
Please reach out to the AcctCardProgram@fiscal.treasury.gov for any additional information.