PCard Process Overview
Below is an image showing the basic PCard process. In a nutshell, the PCard process works like this:
- A purchase is identified by the Requester.
- The purchase is made by the Cardholder who enters the order into the Lab's Financial Management System (FMS) concurrently or before the product is ordered. This is important because the vendor must reference the PCard order number on the shipping label. At this point, it is likely that the bank charges will be imported to the Lab's FMS system before the product is received.
- The order is reconciled or matched to the credit card charges.
- The product or service is received or delivered.
- On a monthly basis, the transactions are reviewed and approved.
- On an occasional basis, compliance reviews are done to ensure that the entire system is working and documented appropriately.
To view a more detailed process flowchart, Click Here.