Florida Gulf Coast University's Purchasing Card (P-Card) program is designed to provide a more efficient means of making routine purchases and payments. The P-Card affords Cardholders the convenience of purchasing directly from merchants without having to go through the purchase order or reimbursement process. Using a P-Card streamlines the purchasing process, saving time and reducing paperwork. This is meant to be a supplement to purchasing methods already in place and is not intended as an overall replacement or as a means to circumvent purchasing guidelines and requirements.
FGCU utilizes the Visa network secured through Bank of America to provide the P-Card Program. In addition, all charges are reviewed, reconciled, and paid through the P-Card module of Banner Finance. P-Card transaction activity is updated daily in Banner.
A P-Card may be presented to any merchant who accepts Visa, and after the purchase is made, the Reconciler will assign the charge to the proper University funding source through the Banner system. The Cardholder and the Reconciler will need to become familiar with the FOAPAL(s) associated with your P-Card to ensure that your purchases are being paid for with the proper funds. A FOAPAL is the accounting string that is associated with your department's funding source. It is an acronym for "Fund, Organization, Account, Program, Activity, and Location." The Cardholder and the Reconciler will primarily be concerned with the Fund, Org, and Account aspects of the FOAPAL.
Success of th P-Card Program relies on the cooperation and professionalism of all personnel associated with it. Cardholders are expected to follow appropriate state law and guidelines, as well as use good and reasonable judgement when making P-Card purchases. It is important for Cardholder to familiarize themselves with the information contained in the Cardholder manual before signing the Cardholder Agreement and beginning to make purchases with their P-Card.
Summary of Cardholder Responsibilities
- Attend Cardholder orientation and sign the Cardholder Agreement (your supervisor must also sign it) in order to acknowledge that you understand and accept the responsibilities associated with the card.
- Abide by all P-Card policies and procedures.
- Ensure that your card is physically secured and your account number remains protected. Immediately report fraud and/or lost/stolen cards to the P-Card Administrator.
- Exercise good stewardship of the University’s resources, including making every reasonable effort to obtain the tax exemption, and make no excessive or unnecessary purchases.
- Provide the appropriate documentation to your Reconciler in a timely manner.
- Review your monthly bank statement for accuracy; sign and forward to your Reconciler.
- Identify questionable charges/errors and contact merchants directly to resolve the problem. If no solution can be reached, notify the P-Card Administrator to file a formal dispute.
- Discontinue use of your P-Card immediately upon notification of your termination or voluntary departure as a University employee.
Reconciler Purchasing Card (P-Card) Program Overview
Reconcilers are an integral part of the P-Card process, and the P-Card process would not be possible without Reconcilers. A Reconciler is responsible for helping to ensure that Cardholders are appropriately using their cards, reconciling charges in Banner, maintaining one audit ready binder per Cardholder per fiscal year, and performing the monthly reconciliation process
A Reconciler will utilize the P-Card module of Banner in order to assign P-Card charges to the proper University funding source. Reconcilers are familiar with the FOAPAL(s) associated with the P-Card(s) they reconcile to ensure purchases are being paid for with the proper funds. A FOAPAL is the accounting string that is associated with a department’s funding source; it is an acronym for “Fund, Organization, Account, Program, Activity, and Location.” A reconciler should use the Expenditure Guidelines Matrix to determine if a purchase is allowable. They may also contact their budget manager, the grant P.I., or the P-Card Administrator/Accountant for clarification.
- Attend Reconciler training in order to learn how to use Banner for reconciliation purposes and familiarize with program policies and procedures.
- Help ensure that Cardholders are appropriately using their P-Cards and report issues of
- Reconcile charges in Banner, adhering to established time
- Maintain an audit-ready binder for each Cardholder for whom you reconcile.
- Perform monthly reconciliation of the bank