WELCOME to the Procurement Card Program
Vanderbilt University has established a Procurement Card Program to provide expanded convenience and controls for low dollar purchases, and to establish a payment methodology that will support the future purchasing directions of internal and external transactions. The Procurement Card (PCard), an institutional credit card, is designed to give controlled buying power directly to the Departments/Divisions eliminating many purchase orders, check enclosed orders and University and Medical Demand Check Requests.

JP Morgan Chase MasterCard is the provider of the Vanderbilt University Procurement Card. MasterCard is readily accepted by most vendors and is a convenient purchase and payment tool for low dollar purchases.

• Cardholder makes an authorized business-related purchase by charging it on their JP Morgan Chase MasterCard.
• Cardholder logs the transaction on the MasterCard Transaction Control Log and attaches receipt and supporting documentation.
• Cardholders review their transactions daily/weekly in the PaymentNet Internet application.
• Card Manager approves the Cardholders transactions in the PaymentNet Internet application for distribution to the appropriate general ledger account and center number for all charges within the current billing cycle. The Card Manager reviews the supporting documentation, signs and dates the MasterCard Transaction Control Log or bank statements if required by section 11.10 on a monthly basis.
• Cardholder reconciles receipts and MasterCard Transaction Control log to the electronic bank statement from JP Morgan Chase.
• JP Morgan Chase pays the merchant when merchant submits the transaction.
• Vanderbilt University pays JP Morgan Chase once each billing cycle.
• Cardholders maintain proper receipts and supporting documentation, transaction log, and bank statements, within the department.