What is required from cardholders to ensure accountability in GPC transactions?

Maintaining purchase receipts and documented records is essential for ensuring accountability in Governmentwide Commercial Purchase Card (GPC) transactions. This practice helps track and verify all expenditures made with the GPC. Cardholders are responsible for providing a clear paper trail that includes documentation of purchases, which is necessary for audits and reviews. By keeping accurate records, cardholders can demonstrate compliance with regulatory requirements and organizational policies, and facilitate the reconciliation process.

Effective record-keeping helps in managing budgets and can also prevent misuse or fraudulent activities. It serves as a reference in case of discrepancies and supports transparency within the procurement process. Documented receipts and records not only prove that purchases were made for official government business but also ensure that appropriate funds were utilized with proper oversight.

Other options suggest varying levels of oversight or types of documentation that do not fully encompass the accountability expected in GPC transactions. For instance, conducting yearly audits alone would not ensure continuous accountability throughout the year, as it would merely provide a snapshot rather than ongoing oversight. Keeping records solely in digital formats may not be sufficient if those records are not properly maintained or backed up, while requiring multiple-level approvals for every purchase could lead to inefficiencies and procedural delays that are not practical for the intended use of the GPC program.