What is the purpose of the ratification of the purchase card?

The purpose of the ratification of the purchase card is primarily to document purchases made. In the context of the purchase card program, ratification serves as a formal approval process that confirms and legitimizes transactions that were executed without prior authorization. This is essential in ensuring compliance with regulations and maintaining an accurate accounting of expenditures.

Ratifying a purchase card transaction provides a clear record of the items or services obtained, thus protecting both the individual making the purchase and the organization from potential financial discrepancies or misuse. It establishes a layer of accountability and helps in tracking spending against budgets.

Other choices might imply different functions within the financial management process, such as notifying about fraudulent purchases or adjusting purchase limits, but they do not align with the core purpose of ratification, which emphasizes the accurate documentation and approval of purchases made.