Presentation on theme: "Northern Kentucky University Procurement Card Training For MasterCard"— Presentation transcript:
1 Northern Kentucky University Procurement Card Training For MasterCard
2 Cardholder Responsibilities Using the PCARD Audit Review AgendaCard ControlCardholder ResponsibilitiesUsing the PCARDAudit ReviewNews and UpdatesBest Practices Guidelines
3 Card Control Spending Limits Monthly Cycle limit - $5K Single Transaction limit - $1KRevision to Purchase LimitsUse account Maintenance FormCard CancellationCardholder’s termination of employment with the UniversityCardholder’s transfer to another position within the UniversityThe revocation of the card by the cardholder’s supervisor or Procurement Services due to misuse by the cardholder.
4 Card Control Card Renewal Renewal cards will automatically be mailed to Procurement Services two years from the issue date.Lost or Stolen CardNotify Procurement Services at or Fifth Third Bank at
5 Cardholder Responsibilities Receipt Of Materials and ServicesResponsible for ensuring receipt of materials and services.Resolve any delivery problems or discrepancies.Record KeepingResponsible for retaining all itemized receipts and business purpose of charges.Meal DocumentationNKU Meals & Entertainment FormFoundation Meals & Entertainment FormItemized receipts for meals
6 Cardholder Responsibilities Reconciliation is REQUIREDNo monthly paper statement.Login to Fifth Third SDOL website to reconcile charges. All reconciled charges will be uploaded to SAP the next business day.Supervisor ReviewFailure to reconcile may result in suspension of procurement card privilegesDisputed TransactionsErroneous charges, defective merchandise or failure to receive goods.Fraud TransactionsIn case of Fraud, notify Procurement Services immediately.
7 Using the PCARD Telephone, Fax and Internet Orders Caution should be used when giving out your card number.General guideline, make sure you know who you are dealing with.Sales and Tax exemptNKU is exempt from payment of Kentucky sales tax.Cardholder should emphasize tax-exempt status at the time of purchase. Tax exempt number is A9029 and is shown on the second line of all PCARDS.
8 Do’s Dont’s Using the PCARD Use the card for University purchases Maintain security of the cardObtain itemized receipts from vendor at the time of purchaseReconcile statement on 5/3 websiteRecruitment expenses: airline tickets, lodging and meals for candidatesGift Cards associated with Grants, Research, and Student ContestsUse the card for personal expensesSubmit a request for expense reimbursement for PCARD chargesSplit purchasesUse card for gifts for faculty or staff (Foundation funds, if allowable)Services subject to personal service contracts and entertainment contracts
9 Using the PCARD for Travel Do’sDont’sUse the card for Hotels, Airlines, Airport Parking (AAA Contract)Use the card for registration feesUse the card for car rentals and gas for rental cars.Membership Fees and DuesUse the card for meals when traveling to a conference or seminarUse the card for gas for personal car
10 Periodic Review Audit Review Supervisor Reviewed Allowable Purchases ReceiptsSupervisor ReviewedAllowable PurchasesReport is to Summarize FindingsTime to RespondFinal Report And ResponseProvided to Dean/VP
11 News & UpdatesThe wait is over! You asked for a fix and we’re delivering a new daily interface. With this new interface, each transaction that has been reconciled on the Fifth Third SDOL website will post to SAP the next business day. No more waiting for the end of the month for MasterCard transactions to post.For more information about this process click the link below and view either the PowerPoint or PDF version.
12 Cardholder Best Practices Guidelines Record keeping and monthly reconciliation must be completed to ensure that all transactions are correct and ensure proper cost allocations ( i.e. G/L codes and proper cost center or grant, etc.)No personal purchases with the Procurement Cards are allowed.Keep the card in a secure location. Having the whole card numbers on invoices or papers in a file in your office can put the University at financial risk.Contract the Procurement Card Administrator at if your card has been lost, stolen or compromised.
13 Cardholder Best Practices Guidelines University policy prohibits split purchases to evade the $1,000 per transaction limit. Please fill out the Procurement Card Account Maintenance Request with the approved signatures for increases to your card.NKU is a tax-exempt organization and all transactions should exclude any sales tax. The University’s tax exempt number is printed on the card. Let the vendor know of the tax exempt number. For additional assistance with vendors, please contact Procurement Services so proper measures can be taken.
14 Cardholder Best Practices Guidelines Required for all food purchases, including meals on and off campus as well as receipt from a grocery chain. Using Operating or Foundation funds, an IRS Meals and Entertainment Form must be filled out and kept with your Procurement Card records (including itemized receipt).Procurement Services must be notified when employment status (i.e. transfer, termination) changes. If you transfer to a new department do not leave your P-Card in your old department, that can be a financial risk.
15 Other Information New Vendor Setup Tax Exempt Process for Suspension of Pro-Card PrivilegesProcurement Services Pro-Card website