The Purchasing Card represents Penn's trust in its employees to safeguard and protect University Assets. As an authorized agent of the University, the cardholder assumes the responsibility for protection and proper use of the Purchasing card.
- The procard and card number must be safeguarded against use by unauthorized individuals within or outside the University. The procard can only be used by the individual whose name appears on the card.
- Secure the procard in a locked location so only the cardholder has access to the number.
- Before initiating a transaction, please refer to the University Commodity Matrix to confirm whether a PO or PDA form would be a more appropriate method of payment.
- Each procard has a per transaction limit. Splitting charges to avoid this limit, or to avoid the University's competitive bidding requirements, is strictly forbidden.
- Using the procard to circumvent supplier restrictions or procurement strategies as defined by Purchasing Services is strictly forbidden.
- A "Procard Transaction Form" must be filled out for each transaction and submitted to the PG Business Office within 48 hours of completing the transaction.
- At the end of every month, each card holder must run the Statement of Account report. It is the responsibility of the cardholder to review and sign this statement, forward it to the department director for signature, and then submit the statement to the PG Business Office.
- Tax should never be charged to procard transactions. If tax is charged on any item, including food items, the cardholder needs to contact the vendor and have the vendor credit the procard account.
- All procard receipts must be saved by the PG Business Office for seven years.
- Per the University policy, any failure to follow the above rules will result in card privileges being revoked.
The following list covers the prohibited use of the procard:
- Travel and Entertainment related expenses and advances, with the exception of registration fees and boxed lunches under $300.
- Alcoholic beverages
- Animals and animal related purchases
- Annual equipment maintenance contracts
- Automotive gasoline
- Cash Advances
- Catering services where a signed contract is required
- Cellular phones and related monthly charges
- Construction and renovation costs
- Consulting services
- Office and laboratory furniture
- Prescription drugs and controlled substances
- Personal items
- Radioactive and hazardous materials
In addition to the above, the following transactions are not permitted on grants or contracts unless approved by the business office:
- Meals, food, and any entertainment expenses
- Memberships, dues, and subscriptions
Statement of Account Report Reconciliation
At the beginning of each month, the cardholder is responsible for running and reviewing the Statement of Account Report via the J.P. Morgan PaymentNet application.
This report should be carefully reviewed to verify the accuracy of transactions. If unrecognized transactions are found, the cardholder must investigate. If a transaction cannot be verified, a dispute must be filed with J.P. Morgan. If tax is charged, the cardholder must have the tax removed.
After all purchases have been verified, sign the report and submit it to the department director for review and approval. After the director has signed off, please send the report to the PG Business Office. The report must be received by the PG Business Office no later than the 15th of each month.
For detailed instructions on how to run the report and the link to the J.P. Morgan PaymentNet, follow below link to "How To" page