Top 10 Reminders
Procurement Operations is here to help departments maintain a healthy PCard program. If one has questions or needs assistance, he or she may contact the Finance Support Center. Campus numbers are can be found on the menu at the left.
- Cardholders are required to complete policy and procedure training when being issued a new or renewal card. This training is available through MyLearn, which is located within the MyHR application. Anyone may take the on-line training tutorial at any time. Department editors and approvers must also complete the on-line training and be trained on the use of PaymentNet, the card reconciliation software. This is a live training provided by Procurement Operation's staff.
- The PCard can be used for most purchases under $5,000. A list of prohibited purchases is provided at the time of training, and is available in the PCard policy manual, which can be found at: www.umsystem.edu/ums/fa/procurement/card/policy. It is the cardholder's responsibility to adhere to the policies and to provide the necessary documentation to his or her approver.
- It is the approver's responsibility to ensure the cardholder has followed the policies. This includes reviewing receipts and making sure all charges are supported by the proper documentation. In some cases, this may include noting the business reason for the charge or receiving additional approvals. Receipts and other required documentation are to be kept by the department in accordance with records retention standards. If a receipt is missing, one should be requested from the vendor. A copy may also be requested from the bank if necessary. A small fee may be charged by the bank for this service.
- Personal charges made by the cardholder are strictly prohibited. If such a charge is discovered during reconciliation, the approver should instruct the cardholder of the policy violation. The department is responsible for receiving reimbursement from the employee. As per the cardholder agreement, money may be held from the cardholder's paycheck.
- Procurement Operations ensures department reconciliation and approvals are being performed by monitoring the receipt of the signed monthly cardholder statements. Statements should be received by the 10th of each month. Cards with late statements are subject to temporary suspension.
- If an incorrect charge or one that is not recognized is identiﬁed during the reconciliation process, the transaction must be disputed within the PaymentNet system by the department. If a charge is marked as unrecognized, the bank will send a copy of the charge documentation to the cardholder for review. If the cardholder determines the transaction is fraudulent after reviewing the charge documentation, he or she will need to notify JPMorgan in order to receive credit for the transaction. The bank, in turn, may require the cardholder to sign an afﬁdavit verifying the charge is fraudulent. The card will be cancelled and a new one will be issued to the cardholder.
- In addition to reconciling new charges, the approver should also be monitoring the system for anticipated credits or transaction dispute resolutions. If it is determined the charge is fraudulent and was not made by the cardholder or if the transaction includes an overcharge, a credit noted as a "chargeback" will appear in the transaction list. If the bank can prove the charge was made by the cardholder, the charge will remain in the system. Once the bank has ﬁnished their investigation into the dispute, the dispute ﬂag will be removed from the transaction in PaymentNet and notiﬁcation will be sent to the cardholder. PaymentNet also provides reports that can be generated by approvers to monitor disputes. The report names are; Dispute Transactions by Hierarchy or Status. The report will show transactions that have been disputed and the date a resolution was made.
- Procurement Operations produce reports to monitor transaction trends on a monthly basis. Dollar limits and spend category limitations are set on each card. Transactions outside of the normal limitations are reviewed. In addition, Procurement watches for transactions that appear to be split or strung together to avoid requirements for sending transactions through on a requisition. Even though Procurement monitors spend, it is the responsibility of the department to monitor each transaction.
- At this time, the University maintains a separate card program for travel. A few travel related items are allowed on the PCard, such as; airline tickets, rental cars through Enterprise, and food when the University is hosting or sponsoring an event. All other charges should be placed on the individual liability travel cards unless prior approval surrounding special circumstances and needs has been obtained from Procurement Services/Operations.
- Procurement Operations provides departments with an annual Spend Analysis report which details spending trends for each cardholder during the year. The report also indicates the reporting structure for each cardholder, listing the individual(s) authorized to approve the cardholder statements or changes affecting the card. It is very important that departments carefully review the reports and note any changes that should be made before the list is returned to Procurement Operations. This review ensures appropriate limits are established and cards have been issued to the correct individuals.
For more information regarding the PCard program please visit www.umsystem.edu/ums/fa/procurement/card. In addition, the following forms are now available in Outlook, to assist with your program maintenance: UM PCard Change, UM PCard Cancellation, and UM PCard AO/Editor form.
Finance Support Center
- Finance Support Center
- Finance Support email
- Hospital and Clinics: 884-1234
- Missouri S&T Campus: 341-4266 or 877-752-1117 (after hrs)
- UMKC Campus: 235-1371
- UMSL Campus: 516-5366
- UMSYS, UOEXT, MU Campuses: 882-3201
- Toll Free All Campuses: 877-752-3334
- Finance Support Center may be unavailable Mondays from 2:30-3:30pm for staff meeting.