Card Users
Responsibilities | Purchasing With A PCard | Receipts | Statements | Declines | Card Expiration | Disputes | Returns or Credits | Account Changes | Canceling A PCard | Lost or Stolen Cards |
PCard Reviews | Control Program Compliance

Daily PCARD Transaction Audits
The Procurement Card Office will audit PCARD transactions on a daily basis for questionable or unusual activity. Our staff may contact Cardholders directly to request a faxed receipt or invoice for review. To keep these requests to a minimum, Cardholders are asked to document the business purpose in the transaction notes section in PaymentNet, and to avoid making split transactions for single items. Administrative Officers or Directors may request temporary limit increases for purchases above the single purchase limit.

 
Department PCARD Audits
The Procurement Card Office will continue to perform department PCARD audits on a regular basis. Departments will be notified in advance of a PCARD audit. Cardholders, who have an unsatisfactory audit, will be given written suggestions of improvement. Those Cardholders will be audited again during the current year. If improvements have not been made, and/or policies and procedures are not followed, the Cardholder or Card Manager will lose their PCARD privileges. Items of concern include missing receipts, questionable charges, missing cardholders logs, missing travel authorization numbers, and lack of proper documentation.

The purpose of this visit will be to audit your department's procurement card transactions and documentation, and to answer any questions that you or your staff may have regarding the procurement card program. Our Audit Team will pull at least 10% of the transactions to ensure that the Cardholders are in compliance with the University Procurement Card Policy and Procedures. At the time of the audit, we request that both the Cardholder and Card Manager be present.

Items for audit will include:

  • Security (Location of Card and Files)
  • MasterCard Transaction Control Logs used / Reconciled with Bank Statements / Signed by Card Manager (Policy update 2/2003)
  • Bank Statements
  • Receipt Retention with Documentation of Business Purpose on Receipts and in PaymentNet
  • Purchases comply with University Procurement Card Policy and Procedures. (No Personal Expenses, Split Transactions, Sales Tax, etc…)
  • Documentation for Travel Expenses (Travel Authorization Form w/ Appropriate Signatures / Travel Authorization Numbers in PaymentNet)
  • Appropriate Review and Approvals

The Office of Internal Audit may contact departments for independent PCARD audits. The Federal Government may also audit Vanderbilt departments at any time.