Purchasing Card Policy

The cardholder is responsible for protecting the card and is accountable for all purchases made using the card
Purchases must be made by or under the immediate direction of the cardholder (card may not be given to another individual for extended use).
Purchases must be for the use and benefit of Brown University
Grants and contracts must adhere to all of the granting agency policies, restrictions and guidelines, as well as those of OSP
Loss of the card must be reported to the online service provider, Paymentnet at 1-800-270-7760
Disputed charges must be reported by the cardholder online to Paymentnet within 30 days
The Controller's Office must be notified if the cardholder changes departments. The card must be returned to the Controller's Office if cardholder leaves Brown.
PCard charges defalut to several different subcodes, depending on the MCC code of the vendor. The cardholder must review charges on the Paymentnet online system, reallocate charges in incorrect subcodes, reconcile to the transaction log, and approve the charges. This must be done by the monthly deadline posted on the Controller's Office General Accounting website.
The Controller's Office will cancel PCard privileges when the PCard is used for personal purchases.
The Controller's Office may cancel PCard privileges when:
- The PCard is used for prohibited purchases
- The PCard is used for split transactions
- The PCard is given to another individual for extended use (not immediate, short term usage such as store purchases).
Maximum single transaction amount is $2,999. Transactions my not be manipulated with the vendor to stay within the $2,999 limit (split transactions).
Transactions must be recorded and tracked in a log. A log may be maintained on a computer spreadsheet or manually. There is a sample log in the Forms and Tax Exemption Certificates section of this policy.
Original receipts for all credit card purchases must be kept by the department for 7 years. However, if the purchase is charged to a grant, receipts must be kept the longer of 7 years or three years following the final payment by the government. (See OSP records retention policy).
Acceptable receipts for internet purchases include an email confirmation, shopping cart list, or quote. The information on the receipt should match any packing slips received as well as the purchasing card charge.
Someone in the department other then the cardholder, should review credit card activity and receipts on a regular basis.