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Procurement Card

Procurement Card. Conducted by Finance and Business Services Branch. What is a Procurement Card?. Credit card Commonwealth Bank MasterCard DTF sets “The Rules” of use Small, one-off or ad-hoc purchases where immediate payment is required. Transaction Limits. Individual transaction limit

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Procurement Card

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  1. Procurement Card Conducted by Finance and Business Services Branch

  2. What is a Procurement Card? • Credit card • Commonwealth Bank MasterCard • DTF sets “The Rules” of use • Small, one-off or ad-hoc purchases where immediate payment is required

  3. Transaction Limits • Individual transaction limit • Monthly credit limit • Authorised signatory – otherwise known as the Procurement Card Approver

  4. Remember this diagram?

  5. Procurement card process

  6. Records for Procurement Cardholders • Each cardholder has their own Registered TRIM file • Monthly bank statements are kept in chronological order • Collate documentation in transaction order and attach under the monthly statement • Cardholders may be requested to provide their TRIM file to DHS Internal Audit, which will be returned upon completion of examinations

  7. Procurement card verification • Verify transactions in Oracle • Reconcile against supporting documentation • Complete task within five business days of monthly, electronic statement

  8. Login to Oracle • Start button • Business Applications • Oracle Financials Web

  9. Accurate Oracle dataProcurement Card module • Verify each transaction • Charge code(s) • Purchase description • “Paid”

  10. Reconciliation process

  11. Thank you for participating in today’s program Please shut down your PC and hand in your completed evaluation form to the trainer

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