Presentation on theme: "The Welsh Procurement Card at Aberystwyth University."— Presentation transcript:
The Welsh Procurement Card at Aberystwyth University
WELSH PURCHASING CARD (WPC) What is a Purchasing Card? A Charge Card that is: Issued to Individuals Belongs to and is charged to the Organisation Like a Credit Card But with More Control
WELSH PURCHASING CARD (WPC) Because they provide an efficient ordering and payment mechanism for low risk procurement Because they save time and effort Because they allow those with the need to satisfy that need without the intervention of others (one-to-one) Because they can increase the visibility of what has been bought and provide enhanced management information Why use Purchasing Cards?
Purchasing/Supplies Supplier Finance REQUISITION GOODS NEGOTIATION & ORDER GOODS REQUEST FOR AUTHORISATION AUTHORISED COPY OF PURCHASE ORDER INVOICE PAYMENT STATEMENT FOR RECONCILIATION INTERNAL BUDGET REPORT CHEQUE Bank Manager Employee The Paperchase Process
RECEIVE GOODS/SERVICES RECORD ON LOG The Purchasing Card Process Employee Supplier ORDER
The Streamlined Process STATEMENT FOR RECONCILIATION STATEMENTS & MIS Employee Supplier RBS Bank Card Administrator Once a Month
WELSH PURCHASING CARD (WPC) Risks? Procurement Cards can help organisations to empower staff to obtain the goods and services they need to do their jobs with the minimum of bureaucracy. That empowerment requires trust but with trust comes responsibility.
WELSH PURCHASING CARD (WPC) Transaction Limit Monthly (credit) Limit Merchant Category Group (MCG) Blocking Visibility What are the Controls? Laying down the Rules !
MERCHANT CATEGORY GROUPS 1 Building Services 2 Building Materials 3 Estate & Garden Services 4 Utilities & Non-Auto Fuel 5 Telecommunication Services 6 Catering & Catering Supplies 7 Cleaning Services & Supplies 8 Training & Educational 9 Medical Supplies & Services 10 Staff - Temporary Recruitment 11 Business Clothing & Footwear 12 Mail Order/Direct Selling 13 Personal Services 14 Freight & Storage 15 Professional Services 16 Financial Services 17 Clubs/Associations/Organisations 18 Statutory Bodies 19 Office Stationery and Equipment 20 Computer Equipment & Services 21 Printing & Advertising 22 Books & Periodicals
WELSH PURCHASING CARD (WPC) Anything! What can be bought with Purchasing Cards ? As long as it is legitimate use of public money
WELSH PURCHASING CARD (WPC) How do Purchasing Cards work? Issued to individual members of staff (May also be held by supplier) Purchases made face-to-face or by fax, phone, on-line, etc Transactions recorded on Log Reconciliation against Bank record Online Transactions approved and coded Online Exported and Posted electronically to General Ledger
WELSH PURCHASING CARD (WPC) Level I - Tesco Level II - Summary VAT & Customer Reference Number Level III - Full VAT (Line Item Detail) VAT & Levels of Supplier Capability
FRAUDULENT USE! Corporate Liability Waiver of - £50K per Card per Annum - £1.5M per Annum for the University Lost/Stolen Cards - Organisations liability limited to £25 for illegal use
WELSH PURCHASING CARD (WPC) Transaction data is available on a continuous basis hours after posting. Can be viewed by any authorised person using Smartdata Online. Typically reviewed by Cardholder and authorised by Manager. Reconciliation
WELSH PURCHASING CARD (WPC) Created specifically for the University to suit requirements for import into GL. 19 system default reports. Reports can be created/run by any authorised person. All reports/exports can be scheduled to run on a periodic basis. Reporting/GL Export File
WELSH PURCHASING CARD (WPC) Authority based Online Reporting Tool for: Cardholders/Managers/Supervisors/Administrators Data consolidation, coding and reporting Web based application = 24/7 access to transactions Error free integration and presentation of transaction data to: –Review / Approve –Add detail –Cost Allocate and split transactions –Report and Export to General Ledger, etc Smart Data On Line