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What is a Purchasing Card?
What is a Purchasing Card?
The Purchasing Card (P-Card) is designed to be used for orders of $2,000 or less, for emergency purchases, as well as to make purchases from vendors who have confirmed they will not accept a Purchase Order. This alternative to our normal purchasing processes must comply with all University and State Procurement policies.
How do I apply for a P-Card?
How do I apply for a P-Card?
Complete the p-card training in the PageUp LMS system including passing the p-card quiz within.
Review the 2019 National Defense Authorization Act (NDAA) Section 889
Complete the Virginia Tech/Bank of America Visa Purchasing Card Employee Agreement Form
Submit the completed and signed employee agreement form by emailing it to purchasecard@vt.edu or using the secure drop box.
For more information can be found on the Procurement P-Card website.
What if my legal name changes?
What if my legal name changes?
If you've recently changed your legal name, please take the following steps to update your Virginia Tech Bank of America Pcard. This is necessary to ensure that you will be able to reconcile your account.
Submit the P12B form and a photo of your updated Social Security card to HR via the secure Dropbox.
Email the Purchase Card Team at purchasecard@vt.edu to begin the name change process with Bank of America.
How do I reconcile the P-Card?
How do I reconcile the P-Card?
Directions for the reconciliation process are found on the Procurement website under the heading Monthly Card Reconciliation.
Remember the P-Card holder should never approve their own reconciliation in Chrome River.
Cardholders are responsible for ensuring all documentation is loaded into Chrome River. This includes all
itemized receipts/ credit documentation
sponsored program approvals
airline ticket documentation
any documentation that is generated to approve or support the business purpose for expenditures.
Documentation scanned into Chrome River is considered original documents and is kept for 7+ years, depending on funding. Hard copies are considered backup and should be maintained in the department for one fiscal year. If grant funds are used, the retention schedule changes. The cardholder should contact the grant administrator to determine document retention of backup documents in this case.
Are you missing a P-Card statement?
Read The Ledger to learn how to obtain your P-Card statement online.
P-Card Reminders
P-Card Reminders
The Procurement and Controller’s Office would like to remind p-card holders and approvers that in order to remain in compliance with university Policy 3100-Fiscal Responsibility, segregation of duties must be maintained between the P-card holder, and the approver. The p-card holder should never approve their own reconciliation in Chrome River. Doing so is in violation of policy.
Moving forward, Procurement and compliance teams are placing additional focus on transactions involving:
Software – to ensure compliance with licensing, cybersecurity, and accessibility requirements
Chemicals – to support safety regulations and tracking protocols
International vendors – to satisfy tax documentation requirements (e.g., W-8 collection)
Chemical purchases are prohibited on PCard
Monthly reviews are being performed to ensure compliance. Failure to maintain a segregation of duties will result in a 90- day suspension of p-card privileges and repeated violations will result in a permanent loss of privileges. Please email your p-card Administrator at purchasecard@vt.edu if you have any questions about this policy or the p-card program.
Credit Card Reconciliation
Credit Card Reconciliation
All employees who possess a small purchase credit card (p-card) must allocate those transactions each month using Chrome River. To ensure timely posting to Banner, all p-card charges in Chrome River must be allocated, fully approved, and exported into Banner by the 10th of the following month after the statement period has ended. To assist departments in determining if any credit card transactions have not been allocated and fully approved in Chrome River, departments can run the Credit Card Reconciliation Report.
Instructions on how to run the credit card reconciliation report is available on the Controller's Office Chrome River website, under Chrome River Analytics & Reports. A training webinar is being offered through PageUp Learning Management System.
How do I allocate funds In Chrome River?
How do I allocate funds In Chrome River?
This must be completed once a month by the 10th, but can be done more often if you would like.
You MUST input all of the following....
Description
Account Code
Add a Receipt (must be PDF, JPEG, or PNG file)
ALWAYS label your expense report as P-Card_Last Name, First Name Initial_Statement Date
IMPORTANT: Consistent failure to reconcile by the deadline will result in permanent revocation of cardholder privileges.
Contacts
Contacts
PROCUREMENT
PROCUREMENT
Procurement is responsible for processing requests, late statements, disputes, spending limits, and adjusting card defaults.
Issues with any of these topics should be directed to P-Card Administrator: purchasecard@vt.edu
CONTROLLER'S OFFICE
CONTROLLER'S OFFICE
The Controller's office is responsible for processing reconciled statements and distributing charges, as well as travel card issues.
What training is available?
What training is available?
Watch the Chrome River P-Card video tutorials by visiting the Controller's website, choosing P-Card, then Videos.
Don't Forget!
The university P-Card should only be used for:
Emergency purchases: A purchasing emergency would be an unforeseen situation or circumstance that, if allowed to continue, would pose a risk to research, projects, or the university's or department's mission.
Airline or mass transit tickets (no more than 90 days in advance)
Conference registrations
Professional membership and association dues
Purchases with vendors who do NOT accept HokieMart Purchase Orders.
Key Takeaways:
Use HokieMart first: Whenever possible, route purchases through HokieMart instead of using a PCard.
Know the requirements: Especially for international, software, or chemical-related purchases.
Respond promptly: Timely replies to the compliance team will help avoid audit concerns, payment delays and card suspension.
Questions to Ask Yourself:
Are purchases allowed under university guidance?
Is cardholder security appropriate?
Are electronic processes being followed (i.e. ChromeRiver)?
Related Policies and Procedures
Related Policies and Procedures
University Policies:
University Policies:
All university policies are found on the policy library
Controller Procedures:
Controller Procedures:
Procedure 20335e: Air Transportation
Procedure 90100: Departmental Sales Tax
For more information on university governance, watch the available governance tutorials.
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