Please click HERE for important information regarding changes to the MasterCard reconciliationn procedure beginning August 16, 2013.
The Citizens Bank Purchasing Card should be used for purchases of $500 or less.
The Purchasing Card Procedures section is intended to provide Cardholders with information about the Barnard College Citizens Bank Purchasing Card (the “P-Card”) program and to familiarize them with their responsibilities as Cardholders. This purchasing card is accepted worldwide at any location that accepts either the traditional MasterCard or the MasterCard Purchasing Card. The Purchasing Card is very similar to a bank charge card or credit card. However the charges are paid directly by Barnard College.
The P-Card is a charge card and must be used in such a manner that will ensure the security and safekeeping of the P-Card and its account number at all times. The Cardholder is responsible for keeping the P-Card secure on Barnard premises unless required to make off-site purchases.
The P-Card is the required method for the purchase of small dollar value ($500 or less) for miscellaneous expenses, materials and services. Exceptions will be made where vendors do not accept MasterCard. Types of commodities and services that can be charged are:
Internal procedures should be set up in each department so that proper authorization is given to make purchases.
Ensure that no New York sales tax is charged. The College is exempt from New York Sales and Use Tax. The College’s tax exemption number is printed on the back of the Citizens Bank Purchasing Card.
The Purchasing Card is for official business use only. It may not be used for personal purchases. In addition, the P-Card CANNOT be used to purchase the following items:
Cardholders cannot split transactions into smaller amounts to avoid dollar limits placed on the P-Card. If you need to purchase an item above the limit, please contact the Purchasing Department for special consideration to temporarily increase the “per transaction” or monthly limits.
Please note that additional restrictions may be placed on expenses that are allocated to grant accounts. Contact the Associate Controller-Financial Reporting at extension 4-7734 for information about additional restrictions for grant accounts. P-Card privileges may be revoked, temporarily or permanently, by Barnard College if a Cardholder fails to comply with the Purchasing Card Procedures.
Purchase amounts are limited as follows, unless otherwise approved by the Director of Purchasing:
Purchasing Cards can be issued to departments or faculty that have been assigned a general ledger account number. Applications can be obtained by contacting the Purchasing Department at extension 4-5204.
Occasionally, billing errors may occur. For example, you may be charged New York sales tax, or you may be charged for goods and services that you did not receive. Remember that, by law, suppliers may not bill you for purchases until your order is ready for shipment.
On a monthly basis, the Cardholder will receive an individual P-Card statement.
Departments will verify charges, assign account numbers, appropriate object codes and business purpose for each charge on the Citizens Bank CentreSuite website. Departments should sign and retain the monthly statement, a copy of the transaction log, and original receipts. Departments are responsible for returns and exchanges and following through on appropriate credits. The Purchasing Department should be notified of returns and pending credits.
Keep track of your purchases throughout the month by reviewing and updating your current month transactions on the CentreSuite website.
Departments should retain the following records:
All Cardholder’s charges must be reconciled no later than 7 business days from the end date of the billing cycle. Records should be kept for 7 years at the Cardholder's location.
Purchasing will perform the following procedures on a monthly basis:
Accounts Payable will retain statements for seven years.