Purchasing Card (P-Card) Program Overview What is the P-Card Program? The Purchasing Card program is co-sponsored by the Department of Administrative Services Procurement Services and the Office of the State Comptroller. Using the P-Card streamlines and simplifies the purchasing and accounts payable functions by eliminating waste and low value activities, ultimately, reducing transaction costs, and improving supplier relations. It serves as a payment tool that facilitates the timely acquisition of materials, automates data transactions for accounting purposes, supports travel services and offers flexible controls. How does it work? 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 strip, to meet the specific needs of the cardholder and the organization. The Payment Process Each agency reconciles and approves cardholder transactions in CORE-CT; these approved transactions will be budget checked and vouchered by the CORE-CT system. Flexible Controls The P-Card offers the buyer more flexibility than traditional buying practices. It sets limits and standards allowing each card to be customized with a:
Purchasing Card Program Information P-Card Forms
Memorandum
Policy for
P-Card Purchases The Procurement Process Q. How will the agency encumber funds?
Q. What about services rendered by another state agency? Can they accept the
P-Card?
Q. What about tracking controllable assets?
The Payment Process Q. What if a supplier charges a fee to accept payment by P-Card?
Other Concerns Q. What impact will there be on records retention?
Q. Do Personal Service Agreements have to be paid with the P-Card?
General Questions on the Purchasing Card can be directed to: Office of the
State Comptroller, Account Payable Services Division, (860) 702-3400 or
email
with the subject line P-Card Questions. |
Office of the State Comptroller |
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