What is the Cardholder Statement of Account?

The Cardholder Statement of Account is a vital document that provides a comprehensive overview of the Cardholder’s transactions during a specified billing cycle, typically spanning 30 calendar days. This statement includes all purchases made with the Governmentwide Commercial Purchase Card as well as any credits that have been applied. This allows Cardholders to track their spending, reconcile their accounts, and ensure compliance with regulations and guidelines governing the use of the card.

The statement serves not only as a financial record but also plays an important role in the responsibilities associated with managing public funds. Cardholders need to review this document monthly to confirm that all transactions are accurate, to identify any discrepancies, and to maintain proper oversight to prevent misuse of the government-issued card.

In contrast, other choices focus on narrower aspects of account management, such as only detailing credit transactions or summarizing annual spending habits, which do not adequately capture the comprehensive nature of the Cardholder Statement of Account. Additionally, the mention of tax documents introduces an unrelated context, as the statement is primarily for tracking and managing authorized purchases rather than for tax preparation.