Purchasing Card Best Practices

Shana Hart May 4, 2017

Which Card? Pcard

• Low dollar purchases otherwise not available through Penn Marketplace or PO Suppliers • Miscellaneous supplies not available through contract suppliers • Conference fees • Professional membership fees • Subscriptions • Mobile phone charges • Incidental purchases with non-contract suppliers

Meeting Card • Business expenses directly associated with off-campus meetings, conferences and events within University and School policy

Travel Card • Reimbursable expenses incurred while traveling or conducting approved University business

entertainment • Lodging • Ground transportation • Reimbursable meals • Airfare as alternative to the central business travel account (BTA), a.k.a. airline billing account • Conference fees and other departmentally approved individual expenses when a Purchasing Card or PO

payment is not available

http://cms.business-services.upenn.edu/purchasing/making-purchases/purchasing-basics/card-programs.html

PCARD Defined

The Purchasing Card is the authorized buying method for low dollar one time purchases from external suppliers. All authorized Cardholders must utilize their purchasing card in accordance with Financial Policy #2303 - Use of a Purchasing Card and the Ben Financials Commodity Matrix. At no time is an authorized Cardholder to use their Purchasing Card for a personal purchase. Site resource: Usage Guidelines

Review Commodity Matrix and Restrictions if item is allowable.

Cardholder Role Responsibilities

Review purchasing transactions and document the business purpose of

the purchase in PaymentNet. Put Notes into each transaction. • View detailed instructions on “How to Review a Transaction”

Monthly: Print the monthly Statement of Account

• View detailed instructions on “How to Run Reports” • Month is from the 28th to the 27th of the next month

Attach original receipts and/or supporting documentation of each

transaction to the monthly Statement of Account for approval and retention

Provide to Business Administrator or F&A (if cardholder is BA)

Review a Transaction Make Notes on what was purchased, why, and account

number to be charged. • Friday to Thursday after the transaction to write notes (unposted in Ben

until the next Friday)

Transaction Approver/Reallocator should be someone else within Ben other than yourself

Note: The default Chart of Account can NOT be changed in

PaymentNet Split Transaction-Red flag will denote when a transaction is made

on the same day to the same vendor.

May receive email from Card Administration to verify there were multiple invoices and not a split transaction.

Transaction Approver

Role & Reports

PaymentNet role allows access to view all cardholders All Business Administrators should have this role for their orgs Resource for weekly reallocation via supporting notes

Reports for Monitoring Activities Transaction Detail- transactions with cardholder account codes, notes and

custom fields. Schedule to run automatically on a weekly basis

Statement of Account - transaction detail for all cardholders within your scope or responsibility. Schedule to run automatically on Billing Cycle

Declines (MS EXCEL)- list of declined charges for all cardholders within your

scope or responsibility. Schedule to run automatically on Monthly Billing Cycle

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PO Supplier & Limit Increases

Check first for PO supplier before requesting an increase

Single Limit request form

When a transaction is above the single card limit Limit is good for a week for processing

Monthly Limit request form

When monthly transactions exceeded monthly limit before the end of the month Used for a month time or for a permanent change to limit * Require evidence of invoice and business purpose & Senior BA approval on all increase requests

PayPal and eBay

Only sign in as guest Don’t keep your Pcard number on file with vendor

No University protection when purchasing ebay products

Purchases are made at own risk

Tax Refund Request Form

To request a refund for taxes: http://cms.business-services.upenn.edu/purchasing/policies-a-forms/forms/tax-exemption-certificate.html

Tax exempt number is on the back of the card

Tax exemption for Amazon

• When submitting the tax exempt form for Amazon include the 17 digit shipping confirmation number and email that was used when creating the order

Keeping your card safe & Fraud

For more information: Best Practices to Keep Your Card Safe Fraud: If your card is lost/stolen or to report suspicious transactions call

JPMorgan Chase immediately 800-316-6056For more information: Best Practices for Fraud

BEN Financials Commodity Matrix • http://cms.business-services.upenn.edu/purchasing/making-

purchases/purchasing-basics/commodity-matrix.html

PaymentNet Quick Reference Guide • http://cms.business-

services.upenn.edu/purchasing/images/stories/pdfs/pcard_quick_reference_guide.pdf

Purchasing Card Application & Delete Forms

• http://cms.business-services.upenn.edu/purchasing/policies-a-forms/forms/card-program-forms.html

Purchasing Card Best Practice Guidelines

• http://cms.business-services.upenn.edu/purchasing/images/stories/pdfs/bestpracticestokeepyourcardsafe.pdf

Purchasing Card/PaymentNet FAQ’s

http://cms.business-services.upenn.edu/purchasing/making-purchases/purchasing-basics/card-programs/purchasing-card/purchasing-card-faqs.html

Resources