The Purchasing Card program is co-sponsored by the Department of Administrative Services Procurement Services and the Office of the State Comptroller. It is designed and intended to effectively meet your agency’s purchasing and travel needs. It streamlines and simplifies the purchasing and accounts payable functions by eliminating waste and low value activities, ultimately, reducing transaction costs, and improving vendor relations. The Purchasing Card (P-Card) is a tool that facilitates the timely acquisition of materials, automates data transactions for accounting purposes, supports travel services and offers flexible controls to help ensure proper usage.
How it Works:
The P-Card is a MasterCard issued by JPMorgan Chase Bank. It works much like a personal credit card. However, it is a commercial card and each card has custom designed features, with pre-set controls built into the magnetic stripe, to meet the specific needs of the cardholder and the agency.
The P-Card simplifies the procurement and disbursement process by facilitating point-of-demand purchasing. Purchasing authority is delegated to the ordering departments enabling the authorized cardholders to place orders directly with the suppliers.
Who is the Agency P-Card Coordinator?
The Agency P-Card Coordinator is the person at each agency that is responsible for card applications and issuance, card cancellation, card limits, entering cardholder information into Core CT, reconciling the accounts, reviewing cardholder authorizations, paying the bill and communicating with the Program Administrator.
Benefits to the Agency:
- Only one (1) monthly statement will be received for verification and reconciliation.
- Reduces the need to prepare and obtain approval signatures on internal order forms.
- Fewer purchase orders are required; therefore less typing and tracking of individual purchase requisitions and receiving reports are required.
- Monthly approvals required rather than individual purchase order and voucher approvals.
- Receive orders immediately or within days instead of weeks.