What Is A Purchasing Card?
USF's purchasing card is a Visa credit card issued by JP Morgan Chase. The purchasing card allows approved University employees to make business-related purchases on behalf of the University without the need for reimbursement. The single transaction limit (one charge cannot exceed this amount) and monthly credit limits are determined by your business manager.
What Is A Declining Balance Card?
It is a university issued credit card with a set amount to spend.
How Do I Get A Purchasing Card Or Declining Balance Card?
Employees may apply for a purchasing card or declining balance card by submitting an approved application to the purchasing card administrator in the Accounting and Business Services Office. Copies of the Purchasing Card Application Form may be obtained by clicking here. In addition to completing an application, employees must sign up for and attend a Cardholder training session. See below for the training information.
How Do I Activate My Purchasing Card Or Declining Balance Card?
Cardholders must call 1-800-270-7760 to activate their card.
How Do I Use My Purchasing Card Or Declining Balance Card?
The purchasing card and declining balance card is used like a regular credit card. Present the card at the time of purchase and sign the receipt. The purchasing card must only be used to purchase business-related items (e.g. office supplies and work travel) and an original itemized receipt must be obtained.
What Are The Deadlines For The Reconciliation Process?
The last day of every month is the close of the billing cycle. By the first business day of every month, cardholders must submit expenses for previous month. By the third business day of every month approving business managers must review and approve all transactions for their cardholders
What If I Can’t Meet The Stated Deadline?
Submit your expense report early if possible or work with your budget manager on providing a reasonable extension.
Will Purchases Affect My Credit Rating?
No - the credit card bills are paid to JP Morgan Chase directly by USF each month.
Do I Have Tax Liability For Purchasing Card Or Declining Balance Card Purchases?
Yes - per the Internal Revenue Code if you do not provide business substantiation (original itemized receipt and complete business purpose notes) within 60 days of the purchase USF is obligated to add those amounts to your taxable W-2 wages. Reminders will be provided by Accounting and Business Services to avoid this circumstance.
How Do I Request Higher Limits For My Purchasing Card Or Declining Balance Card?
You must get approval from your Business Manager. To expedite this request you can e-mail your business manager (Subject: P-card Limit Increase) with the single transaction limit and/or monthly transaction limit increase needed along with whether this is a one-time (temporary) increase or a permanent increase. Please allow as much advance notice as possible and our office will e-mail confirmation of the limit increase once completed
What Do I Do If My Purchasing Card Is Lost Or Stolen?
If a purchasing card is lost or stolen, immediately contact JP Morgan Chase at 1-800- 270-7760. A JP Morgan Chase customer service representative will deactivate the account and a new card will be issued. Then notify your approving business manager and the purchasing card administrator via email that the card was lost or stolen.
How Do I Dispute A Charge That Is Unfamiliar Or Fraudulent?
Contact JP Morgan Chase by calling the 1-800 number on the back of your purchasing card. The Fraud Department will contact you for an affidavit. They will ask the merchant to prove the purchase and will refund your USF card if it is not proven. If this isn’t resolved within 120 days of the transaction there is no recourse and your department will have to pay the charge.
How Do I Reimburse The University For An Accidental Personal Charge On My Purchasing Card?
Although personal charges on the University purchasing card are
prohibited, if one is made accidentally, a reimbursement check needs to
be made out to USF and sent up to Accounting and Business Services (LMN 3rd FL) with attention to Morgan Maich. Please note in the memo line that the check is for a personal reimbursement.
How Do I Deactivate My Card If I Am No Longer Employed By The University?
Return your purchasing card to your approving business manager who will notify the purchasing card administrator to cancel your account. Although you are leaving the university you are still required to reconcile all expenses prior to your departure.