Streamlining Purchasing Procedures with P-Card Program
The Purchasing Card Program aims to simplify purchasing processes for end-users, procurement, and finance teams. Cardholder policies include a limit of 50,000 and specific transaction limitations. Disputed transactions are addressed, and reconciliation procedures are outlined. The I-Expense module replaces manual logging, and strict records retention practices ensure secure archiving. Overall, the program enhances efficiency and accountability in financial transactions.
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Presentation Transcript
OVERVIEW OF THE PURCHASING CARD PROGRAM Purpose of the card: Streamline the Purchasing procedures Simplifying a lot of steps (End user, Procurement and Finance)
Cardholder Policies and Procedures Limit of the card 50,000 Limitations of each transaction is QAR 50,000 Expect for the Fixed Assets (QAR 20,000). The P-card will not be used for any research grant activity.
Disputed Transaction Dispute of statement items
Reconciliation Procedures Access provided by the bank Documentation and review Cardholder responsibilities Reconciler responsibilities Purchasing Card Administrator responsibilities
I-Expense Module Online application will replace the existing excel log sheet.
Records Retention Notice Original statements and receipts are to be sent to the Finance department- Treasury Unit each cycle. These original documents will be archived for a period of five (5) years in University Archives. Cardholders are responsible for retaining copies of documentation to make sure the Finance department- Treasury Unit has received all backup and to complete an adequate audit cycle, which the Internal Auditors recommend to be three (3) years. These files are to be kept secure and confidential as card account numbers may be visible. All discarded P-Card documentation must be destroyed by shredding to protect sensitive information.
