P-card is a University issued credit card that is provided to University employees only and is the preferred method of payment for goods and services. P-card transactions are required to be reconciled at least monthly basis (30 days after the transaction date) in Concur. Key features are listed below.
The P-card has limits attached to each card and can be customized according to need of each cardholder. Limits can be changed by the Cardholder's Supervisor emailing the Accounts Payable Office requesting the change. Changes can be either temporary or permanent. Default limits are listed below:
- Single Transaction Limit - $1, 500.00
- Monthly Purchase Limit - $20, 000.00
- Number of Transactions per day Limit - 12
- Efficiency and ease of payment.
- Employee does not need to spend their own funds.
- Reduced input of invoices and reimbursements by Accounts Payable.
- Cash Flow - Additional time for University to pay for purchases
- Rebate received from Bank depending on annual spend.
P-card Terms and Conditions
- The P-card is the property of the bank and if at any time the card is lost or stolen, the Accounts Payable office and/or the bank must be notified immediately.
- The University is liable for all charges made on the card.
- The P-card is not transferrable.
- Personal transactions are strictly prohibited.
- The P-card may not be used to fund a One-Card.
- Transactions may not be split to circumvent a single transaction limit.
- Cardholders are required to reconcile their p-card transactions at least monthly basis (30 days after the transaction date) in Concur.
- Direct supervisors of cardholders are required to approve all transactions made by their direct reports in Concur.
- Budget Managers are responsible to ensure that their department or college complies with all P-card requirements.
- The P-card must be surrendered if changing departments or leaving the University.
In order to obtain a P-card, a completed P-card application must be submitted to the Controller's Office with the appropriate approvals. The employee will need to attend P-card training before the P-card is released.
Failure to comply with the university p-card policy may result in the immediate cancellation of p-card privileges.