Presentation on theme: "Southern Methodist University"— Presentation transcript:
1 Southern Methodist University Procurement Card Program
2 SMU P-Card Training Topics Acquiring a pcardTransaction LimitsThree ProfilesDocumentationTimelinessPcard Don’tsElectronic Pcard Statements
3 Acquiring a PcardCardholder must be permanent staff or faculty and have completed any probationary periodCard enrollment and agreement form must be filled outThese forms can beAgreement signed by the cardholder indicates that the pcard guide has been read and understoodThe card will take 7-10 business days to arrive but can be rushed when necessary for a $25 feeNew cardholder will be required to pick up his/her card and sit through training
4 Transaction LimitsTransactions limits are assigned by the cardholder’s manager and/or financial officerThe maximum limit that can be assigned to a card is $5k per single transaction/ $25k per monthSome individuals have been given higher limits where it was considered necessaryThese few exceptions were approved by VP of Business FinanceLimits can be increased on a temporary basis when needed up to the maximum limits when approved by the applicable Financial OfficerTemporary increases above the maximum limits may also be granted on a case by case basis when reviewed by Director of Purchasing for price reasonableness and approved by the VP of Business Finance
5 Three Profiles SMU One Card SMU Travel Cardholder may use card for both products and travelCard will be set to default to the traveler’s subclassSMU TravelPlease know that with this profile assigned to the card certain Merchant Category Codes are blocked. The card would be declined for Merchants such as Paypal, services performed on campus and other purchases not needed during travel..SMU PurchasePlease know that with this profile assigned to the card certain Merchant Category Codes are blocked. The card would be declined at Hotels, Airlines, Car rental, etc.Cardholder may purchase most productsDefault is set to the cardholder’s most commonly used account- fund-org.Cardholder may use card for business travel onlyCard will be set to default to the traveler’s subclass
6 DocumentationStatement must have the original itemized receipt (even if Grant) for EVERY purchaseBusiness Meals must be approved by President, Vice President, Dean or Designee and business purpose and attendees must be documented. Please be specific.Gifts must be approved by President, Vice President or Dean (this policy does not allow for a designee) and reviewed by Tax Compliance for proper tax treatment. Recipient of gift must sign acknowledging receipt and provide W9 when necessary. The gift documentation form can be found on the Tax Compliance websiteDonations must be approved by the President. The proper form must be filled out, attached to statement and a copy of the form sent to Millicent Grant. If the donation is made to a not for profit organization, the entry must be posted to subclassProfessional memberships must be approved by the President, Vice President or Dean (this policy does not allow for a designee).Each statement must be signed by the cardholder and their independent reviewer.
7 TimelinessBilling cycle is the 20th of the month through the 19th of the following month.If the 19th falls on a Saturday the closing date is moved to the 18th.If the 19th falls on a Sunday the closing date is moved to the 20th.On close of business all individual account balances are rolled into the central bill account and individual limits are refreshed.Statements are placed in the mail, addressed to cardholder’s Campus PO Box, the day after close.Statements are due 15 days after receiptis sent to individual (in some cases FO or AFO) when statement reaches 30 days outstandingCards are subject to suspension when statement reaches 60 days outstandingRepeat offenders or cardholders with statements outstanding 90 days or more are subject to permanent cancellation.
8 Pcard Don’tsGreeting cards or floral arrangements – see policy 3.10 and 13.5Personal expenses - even if cardholder intends to reimburse the UniversityGas for Personal CarTexas Sales Tax- we have exemptions in other states as well. Those states as well as descriptions for the exemptions are found on the Tax Compliance website.Interdepartmental Charges – anything purchased from another SMU department should be paid by means of an internal cross charge.Splitting Transactions – A cardholder cannot allow a vendor to split one transaction into 2 or more transactions to stay within their single transaction limit.If cardholder is caught splitting a transaction the card is automatically suspended for 6 months.
9 Electronic Statements First pilot group will start in DecemberTraining classesTwo classes will be held in December for the first pilot groupTwo classes will be held in January for the second pilot groupFour classes per month will be held for the University beginning in February 2012.Go live date is scheduled for May 2012Demo of the process