10.0 TIPS FOR SUCCESS

To ensure your continued empowerment to use the Purchasing Card, the following actions are recommended:

• Reallocate your PurCard charges on a monthly basis in PeopleSoft, using the correct account and chart string.
  
• Print the PurCard journal.
• Write the name of the cardholder above the line on the top of the report.
• Obtain the supervisor's signature on the report.
• Staple all original receipts to the report.
• These are required for audit purposes. UVM must keep all records for seven years.
• For orders placed via the web or other electronic means, print a receipt/invoice page, usually displayed at the conclusion of the ordering process. This should include a merchandise itemization with prices, shipping/handling charges and an order total. Many vendors will also provide an acceptable invoice/receipt in a follow-up e-mail.
• Note any chart string reallocations that are needed on the invoice - until you reallocate.
• It may be necessary to submit an original invoice or receipt when returning merchandise to a vendor. Check with the vendor first, and if this is the case, put a photocopy of the original document, along with a note of explanation with the PurCard journal report.

• Include additional supporting documentation as outlined below:
• Documentation required by UVM's Business Meal and Amenity Policy.
• Explanations for any documents that are not originals.
• Documentation for any "unusual" purchases that might require further explanation.
• Documentation for airfare, hotel, transportation, and meal charges - complete on the journal report to comply with the IRS Accountable Plan Rules:
  
• Name of the traveler
• Destination
• Business purpose of the trip
  

• Ensure that all transactions are free of VT sales tax charges, as UVM is exempt from the state sales tax.
• Credits may not be posted during the same billing cycle as the charge being adjusted. Invoices are required to document credit transactions. Keep a copy of the original invoice to document the adjustment when it is received.