Step by Step
Learn Your Responsibilities as a Cardholder
Cardholder responsibilities include, but are not limited to:
- Ensuring purchases comply with VCU policies and procedures
- Complying with allowable and nonallowable expenditures
- Ensuring transactions are within established transaction limits and monthly credit limits
- Contacting CorpCard to file a vendor dispute with Bank of America when a vendor incorrectly charges your card and will not correct the transaction
- Contacting CorpCard or Bank of America if you suspect that fraudulent activity has occurred on your account
- Properly reporting any equipment or other tangible items (e.g., furniture, computers) over $2,000 to the Office of Property Management
- Proper monthly online reconciliation
Cardholders must not:
- Use the card for personal purchases
- Authorize multiple transactions (split orders) to circumvent established limits
- Make a photocopy of your card nor fax, scan, mail or email your full account number.
Common compliance issues:
- Missing receipts – Supporting documentation (receipts, invoices, packing slips, memos, attendee lists, etc.) must be kept for audit purposes.
- Late Reconciliation – Reconciliation should be completed by both cardholder and reviewer by the closing date of the following month’s billing cycle.
- Virginia sales taxes are paid to vendors.
Secure Your Card
- Use of the P-Card is limited to the person in whose name the card is issued. The card shall not be loaned to another person. If the cardholder will be away from the University for an extended period, another person in the department should obtain a card.
- The P-Card must be kept in a secure location at all times. The account number shall not be posted or left in a conspicuous place.
- The complete 16-digit account number must never be faxed, mailed or emailed (including attachments) to the vendor. The order can be faxed but the account number must be phoned in to the vendor.
- If the card is lost or stolen, the cardholder must immediately notify the corporate card administration team at email@example.com and Bank of America at 1-888-449-2273.
- Cardholders may purchase over the Internet, provided the company’s website has a Secured Socket Layer (SSL) Version 2.0 or greater at the point of order entry. A website that has this level of security has https:// in the Address Window.
Learn the Grounds for Card Suspension
An individual’s card privileges and RealSource access may be suspended up to three months or permanently revoked on the basis of any of the following infractions:
- Failure to maintain appropriate original documentation
- Card sharing (knowingly allowing another person to use your card)
- Failure to properly and timely reconcile online
- Inappropriate use of the card
- Faxing, mailing and emailing complete card number
- Failure to respond to compliance/audit requests
Understand the Charge to Your Department
The total current balance due on the statement will be processed for payment by Accounts Payable. The P-Card charges will post to the department’s default index number (listed on the CPC Employee Agreement) for each transaction amount. Any corrections needed to the index number distribution will be the responsibility of the department and should be handled via a Journal Voucher. Account number 620002 will be used for recording expenditures except those that are designated to a different account number based on the merchant category (e.g., office supplies, printing services).
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