The AC Procurement Card (MasterCard issued through JP MorganChase) Card Limits: $2,000 per individual order; up to $20,000 per billing cycle. Technology Related Purchases are now limited to less than $100.00.
After the CH has gone through their training session, signed the Agreement, and has activated the procurement card, they may begin to utilize this new purchasing system. Notification of Procurement Card Order form must be completed and forwarded to Central Receiving upon completion of order. When placing an order with a vendor, the vendor must be aware that the nature of the purchase is a charge and the vendor must be able to accept charges. The vendor needs to be given all the necessary information/description/quantity along with your name and delivery locations when placing the order.
It is very important that the vendor is given our tax ID information prior to placing an order. This information is vital to the vendor so that they will honor our tax exempt status. If this step is not followed through by the CH, the CH will be responsible for the tax incurred. Tax credits should be completed within 30 days, otherwise the CH will be responsible for reimbursing AC for any taxes charged on the card. Please contact Business Office at extension 5001 or Purchasing for our sales tax exempt Federal ID number.
Certain stores, such as Walmart, require that the CH have a tax exempt card issued by the company. When a company is verifying tax exempt status, in most instances, our status is under Amarillo Junior College District.
Funds (including Agency Accounts) must be available to cover the cost of the order.
The CH is responsible for all problems with order. If wrong items were received, the CH must resolve this with the vendor if at all possible. If problem is irresolvable with vendor then JP MorganChase will assist you. Use the cardholder statement of disputed items.
The CH will be receiving a monthly statement and should match this against individual transactions/orders placed. Purchasing or Business Office can assist you in showing you an example of a transaction log to use in your department.
The CH will submit promptly their reconciliation form showing GL account #'s to the Purchasing Department. The form must be filled out accurately and completely, including complete descriptions, 18 digit account numbers (NOT POOL ACCOUNTS) and accurate summarized totals. This is a critical step: we only have a few days to get the statements reconciled and the wire transfer payment made to the credit card company to avoid excessive late fees.
Repeated violations may result in suspension or termination of the card.
*Definition of capital equipment is ANY equipment with a cost $1,000.00 and greater and ANY computer, computer related items $500.00 or greater.
For any questions please call x5218, x5015 or x5017.
Changes effective 9/1/09
These procedures also apply to petty cash and store credit cards (Sam's, Wal-Mart, Office Depot, etc.)
Technology Related Purchases
To assure AC follows appropriate accounting and auditing procedures, the dollar amount that is acceptable for purchasing technology related items has been changed to $100.00 from $500.00. See Purchasing Technology Policy for more information.