University of Vermont

RSENR Business Center financials purcards

How To: Financials - Purcards

Primary Contact: Jackie Bruning
Secondary Contact: Kathleen Wells

Welcome to the RSENR Purcard page where we will help answer questions you may have and help you better understand how the Purcard works and what your responsibilities are as a card holder.

Paying with the Purcard is the required venue of payment by UVM if the vendor accepts Visa. The Purcard is a unique credit card through UVM. This uniqueness is because UVM has the ability to dictate what types of expenses are allowed to be purchased on the card. The types of purchases are connected to Merchant Category Codes (MCC). MCC determine which types of purchases are allowed on the Purcard.

FAQs

Who can obtain a card?

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The Purcard is available to Faculty, Staff and Paid Graduate Students, but of course there are specific requirements that must be met to be eligible. There must be a budget to support the expenses associated with the charges, and you must have supervisor or budget manager approval, which could include, but is not limited to, a PI on a grant, the Dean, or the Assistant Dean of Business Operations. The Purcard application will indicate the information needed and approval of the budget.

Should you obtain a card?

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Do you have a grant or an operating budget? If you do, a Purcard would be a perfect solution for you. It provides convenience and will save you, RSENR, and UVM time and money. All purchases that can be made with a Purcard are required by UVM to be paid with a Purcard. Vendors receiving payment in a timely manner are happy vendors and this will ensure future business. Because expenses are allocated in the correct months, financial reporting is more accurate. Purcards are less time consuming and labor intensive than requisitions and POs. The Business Service Center can guide you or may recommend a Purcard for you.

How do you obtain a Purcard?

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  1. Complete an application and return to Financial transaction specialist in Aiken 220. (The original is required.)
  2. Your application will go through the approval process here at RSENR and at UVM Procurement.
  3. If your application is approved you will receive an email from Procurement that will require you to take an online quiz. There is a required score you must meet in order to pass the quiz which is listed in the email you receive from Procurement. Cardholder training
  4. Once you have passed the quiz, Procurement will send you notification informing you if you are eligible for a card.

What can you purchase and where can you use the Purcard??

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The Purcard is basically a Visa card. The link below will take you to the index showing business types allowed on the card. As mentioned above, these are identified as MCC. UVM has determined which MC codes to open. A few common uses are: Airlines, Auto Rental, Hotels and Restaurants.
http://purcard.uvm.edu/?Page=MCC_Codes/default.html

What are the Purcard use restrictions?

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There are restrictions on the use of the Purcard. These are MC codes that UVM has not opened for use. You will need to use a different means of payment for these types of expenses. There is a link below showing how to determine the payment method. Below is a link to Procurement's updates related to the Purcards. We will do our best to keep our RSENR site up to date and please keep in mind any specific internal RSENR processes that we have informed you of.

What is the purchase limit on the Purcard?

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The transaction limit is $2,500.00. The cycle limit is $10,000.00. The cycle begins the 26th of the month or the next business day and ends on the 25th of the month.

What are the supervisor responsibilites?

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Please be sure you are aware of your responsibility when you are signing as a supervisor on the monthly reallocation journal.

How do you reallocate monthly expenses?

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(Reminder - UVM has established clear guidelines on the new process deadlines. Our financial transaction specialist's email reminder to you is our avenue of communication to help you meet these deadlines so your Purcard can remain active. Thank you in advance for helping us to all succeed.)

Faculty
We encourage you to reconcile your monthly journal on your own. We would be happy to provide you with one-on-one training, at your convenience, so please contact the Business Service Center if you have questions. However, the Business Service Center does provide faculty support if you choose. If you choose to have your support person reallocate your journal, please provide the following information:

  • purcard statement
  • receipts, and any additional confirmation documents, such as air itinerary (guidance can be found under the reminders section)
  • sign and date the journal, including any required information in the fields provided at the end of the journal
  • give all of the documents to your faculty support person

The Business Service Center will be sending out an email reminder on a regular basis for processing due dates to meet deadlines. If you have questions please work with your support person or contact our Business Service Center.
Mini Manual job aid (PDF)

Staff and graduate students
If you have questions your first point of contact should be your support person, but as always, anyone in the Business Service Center can help. You are responsible for all receipts and documentation for all of your transactions. You must also reallocate your Purcard in PeopleSoft on a monthly basis if you had activity on the card. The journal needs to be complete with all signatures prior to giving the documents to financial transaction specialist. We have included the PeopleSoft reallocation manual for instructions on how to reallocate the expenses in PeopleSoft. The financial transaction specialist will be sending out a monthly email reminder of RSENR due dates.
Reallocation in PeopleSoft (PDF)

Returns, credits and disputes
If you have any transactions that fit these descriptions, please try to resolve any issues you are having with the vendor yourself first. If you are still having difficulties, please contact the Business Service Center and we will assist. If of course you think there are fraudulent charges on your card, contact Procurement immediately. (Ann Naylor 656-1215) Please also contact the Business Service Center so we are in the loop.
Mini Manual link for returns

If you have additional questions, please don't hesitate to save yourself time by contacting the Business Service Center.

Last modified September 19 2014 01:40 PM