10.0 TIPS FOR SUCCESS
To ensure your continued
empowerment to use the Purchasing Card, the following actions are
- 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
- 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
- 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
- Business purpose of the trip
Also, note the following as you
review your transactions:
- 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.
the vendor to
request a duplicate invoice if the original is lost.