PCard Best Practices

PCard Policy
The Purchasing Card (PCard) program was implemented in 1997 as a cost effective method to purchase and pay for small dollar transactions. The intent was to pay vendors faster and reduce University administrative costs.

Risks commonly associated with PCard:

  • Inappropriate use of the PCard, including non-University business purchases
  • Incorrect financial accounting for transactions

Cardholders should:

  • Attend training and sign a cardholder agreement outlining their responsibilities
  • Keep the card in a safe location at all times
  • Use the card for Harvard business purposes only
  • Notify vendors of the University‚Äôs tax exemption
  • Edit transactions in the settlement system each week by including business purpose and appropriate general ledger coding
  • Obtain receipts and submit them to the reviewer each week
  • Review monthly statement from Citi and reconcile transactions

Cardholders should not:

  • Share their card with other employees
  • Make personal purchases
  • Split transactions with the vendor
  • Purchase restricted commodities including out-of-town travel and meals, unincorporated vendors and gifts over $75

Reviewers should:

  • Review all transactions prior to the weekly PCard sweep
  • Ensure spending is in support of University business and in compliance with policies and procedures
  • Ensure cardholders have provided adequate documentation to support business purpose
  • Check general ledger coding for accuracy
  • Compare detailed listings to the settlement system to detect unreviewed transactions
  • Maintain receipts in compliance with University record retention policies
  • Collect cards from terminated employees and notify/send cut up card to tub and central PCard administrators