Procurement Card (PCARD) Introduction
Welcome to the Purchasing Department's PCARD Information Site.
PCARD Help Desk
(970)491-5752 or PCARD@purchasing.colostate.edu
DEFINITION
The Procurement Card Program (PCARD) is a purchasing method whereby users in the department are issued a MasterCard to make small non-recurring purchases under $3000.00.
BENEFITS
- Like any MasterCard, it is accepted by most merchants - worldwide!
- Great for phone orders, rush orders
- No waiting for prepayment checks
- Eliminates vendors calling about payment (vendors receive payment in a day or two)
- Cardholders shop for best pricing
- Reduction in number of checks written
OVERVIEW OF PROGRAM
- Each MasterCard has CSU name/logo plus the name of the cardholder (faculty/staff)
- Cardholder buys something with the card and gets a receipt
- Merchant sends transaction to bank (electronically) for collection
- Bank sends transaction data to CSU daily
- Transactions are fed into Kuali Financial System (with default account/object code)
- Kuali Financial System sends email notification of each transaction to the cardholder, assigned "reallocator", and fiscal officer
- Meanwhile, cardholder notes accounting info on receipt and gives it to the assigned reallocator.
- Reallocator reviews transactions on Kuali Financial System and receipt information to change account/object code if necessary
- Transactions not reallocated will feed to FRS in default account/object code at 21 days old
- Cardholders receive monthly bank statements, review, sign, and give to their reallocator
- Reallocators review transactions and attach receipts
- Cardholder reviews monthly statement and signs
- Statements are filed in department
