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university mastercard: procurement credit card information

2. Program Overview and Controls. Bank One is a Corporate MasterCard Purchasing Card.The Penn ProCard is used to acquire goods

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university mastercard: procurement credit card information

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    1. University MasterCard: Procurement Credit Card Information Penn Summer Abroad

    2. 2 Program Overview and Controls Bank One is a Corporate MasterCard Purchasing Card. The Penn ProCard is used to acquire goods & services

    3. 3 Overview and Point-of-Sales Controls This is a corporate MasterCard product issued by Bank One for purchases of designated products and services from non-restricted suppliers There is no limit on daily or monthly transactions Your program will have a credit limit which cannot be exceeded

    4. 4 Benefits to the University Simplifies procurement of non-restricted products and services Reduces administrative time and effort related to purchases and payments to non-marketplace suppliers Reduces costs associated with processing purchase orders, invoices and checks Effective procurement tool for emergency requirements Compliments the Universitys electronic procurement system, BEN Buys, and the Penn Marketplace Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    5. 5 Benefits to the Supplier Authorizes Cardholder to act as an official of the University Streamlines the purchase process for authorized commodities Delegates purchase authority, responsibility and accountability to authorized Cardholder at the point of sale Authorized procurement method ensures payment for products and services provided to University departments Reduces administrative time and effort related to processing Penn requirements Prompt payment from bank improves supplier cash flow Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    6. 6 Corporate & Personal Liability Corporate liability includes: All charges made by University employees First $50 of charge against lost or stolen card Corporate liability excludes: Charges made by terminated employees Charges made after Bank One has been notified of lost or stolen card Personal liability: Employee is not liable as long as s/he follows procedures for transactions as outlined in the University Cardholder Agreement and Makes transactions in accordance with approved program budget Use of this card has no impact on employees personal credit history Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    7. 7 Program Restrictions Procurement card cannot be used for: Personal purchases, except as itemized in your approved program budget Alcoholic beverages (incl. beer and wine) Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    8. 8 Sales Tax Exemption Purchases of products and services related to the Universitys educational and research mission are tax exempt Supplier may request a University tax exemption certificate Requests for tax exemption certificates are to be directed to (www.purchasing.upenn.edu/training/credit_card_training/section14_pa_state_tax_exemption.asp) University tax exemption number is imprinted on the back of each procurement card Tax exemption certificate must be signed by the Director of Acquisition Services or the University Tax Manager Signed tax exemption certificates will be sent directly to the designated supplier www.purchasing.upenn.edu/training/mastercard/tax.asp Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    9. 9 Sales Tax Exemption (continued) Items not tax exempt: Retirement gifts, flowers, awards and gifts Occupancy tax at hotels, motels, and similar establishments Restaurants To be eligible for tax exemption, cardholder is required to act in accordance with all University financial policies, procedures and restrictions Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    10. 10 Financial Policy #2303 Purchase activity must be conducted in accordance with University Financial Policy #2303 as per attachment All cardholders must sign and accept the terms and conditions of the University of Pennsylvania Cardholder Agreement prior to receiving a procurement credit card. All procurement credit card transactions must be made by the individual to whom the card has been issued. Fraudulent use of the procurement credit card will result in actions being taken in accordance with the procedures established in the Cardholder Agreement form.

    11. 11 Cardholder Responsibilities Complete PaymentNet Training prior to receiving purchasing card Keep receipts for products or services and turn them in to the Business Office no later than 9/15/08 Maintain or forward supporting documentation to authorized reviewer no later than 9/15/08 Resolve delivery and credit disputes with suppliers Comply with all School/Center specific requirements Respond to CGS Business Office requests for information to review and reconcile monthly statements Complete notes field in the PaymentNet System. Senior Business Administrator (C. Gravener) will review charges on a weekly basis by accessing the notes field in the PaymentNet System for each purchasing card Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    12. 12 Misuse of Procurement Card Personal misuse (Cardholder): Personal purchases that are NOT on your approved budget Alcoholic beverages Administrative misuse (Business Administrators): Failure to obtain and forward supporting documentation for all card transactions Lack of timely and proper reconciliation of monthly statements Use of the card by anyone other than the authorized cardholder Risks for non-compliance: Warning letters from Program Administrator and School/Center senior administrator Suspension of card privileges Employee termination Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    13. 13 Obtaining & Activating a Procurement Card Submit New Cardholder Application to Departmental BA and School/Center Senior Financial Officer for review and approval Forward approved Cardholder application to Procard Administrator (Accounts Payable, 440FB/6281) Read Procard information packet and agree to conditions Call phone number on card to activate your ProCard Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    14. 14 Procurement Card Ordering Process Place order with supplier by: Phone Mail Fax In Person Web Site (See safe purchasing on the web guidelines) Provide necessary information to supplier: Identify yourself as a University employee Provide product or services requirements Provide the Universitys tax exemption number imprinted on back of card Desired delivery location on the Penn campus Provide any additional information required by supplier to complete the order Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    15. 15 Penn Bookstore & Computer Connection Order by phone or in person, and follow same process as ordering from an external supplier Inform Penn Bookstore employee that you are making a departmental purchase in order to receive the 10% discount Provide valid University Identification Card and credit card at the time of pick-up Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    16. 16 Documentation Requirements Proof of purchase : Maintain adequate supporting documentation Match receipts and/or documentation to monthly cardholder statement Examples of adequate documentation: Internal order form Subscription or dues forms Conference registration forms Packing slips Service reports Cash register receipts Documentation retention: Five (5) years Three (3) to seven (7) years based on funding source requirements Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    17. 17 Disputing a Transaction Inspecting products and services at the point of delivery is the responsibility of the cardholder or their designee Returning products to a supplier: Contact supplier and request a return authorization number Return product based on supplier instructions Report disputed transactions to Procard Administrator Complete a Statement of Questioned Item form Follow up with supplier for credit within 30 days Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    18. 18 Procurement Card Reports School/Center review of cardholder monthly activity is required Senior financial officers in Schools and Centers receive management reports to assist in monitoring monthly usage reports Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    19. 19 Card Administration Reminders Procurement card security: Do not share your procurement card with anyone If your transactions are stopped by Bank One for security reasons, use the number on the back of the card to contact them while abroad) Report lost or stolen card: Cardholder must contact Bank One and Procard Administrator Bank One (800-316-6056) Penn administrator (215-898-3606) Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

    20. 20 Compliance School or Center reviews cardholder activity Periodic cardholder audits are conducted by program managers and Internal Audit

    21. 21 Questions? Q & A Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO... Go around and introduce This might be your 100th meeting over the past five years about our financial systems, and were here today -- because Saul asked us to come a speak with you -- but also weve all learned many lessons over these years -- and wed like to ensure that this time around, some of those lessons learned are acted upon. TODAYS OBJECTIVES ARE TO...

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