What Is A Visa P Card?

A Purchasing Card (P‑Card) is a type of Commercial Card that allows organizations to take advantage of the existing credit card infrastructure to make electronic payments for a variety of business expenses (e.g., goods and services). In the simplest terms, a P-Card is a charge card, similar to a consumer credit card.

What are P cards used for?

Purchasing cards (also known as P-Cards or procurement cards) are a form of a company credit card issued to employees, thereby affording the employee the ability to acquire goods and services without using the traditional method of a purchase invoice or purchase order.

Are P cards Visa or Mastercard?

The cards are Visas and can be used wherever Visa is accepted. They are not credit cards, so your credit will not be checked. You will also not pay any interest on your purchases.

How do I get a PCard?

Apply for a PCard

1. Confirm eligibility. With proper approvals, the following individuals are eligible to apply for a Harvard Purchasing Card:
2. Understand cardholder responsibilities. Read and understand the University’s PCard policy.
3. Submit an application. Complete and sign a PCard application form.
4. Receive the PCard.

What is P-card process?

From Wikipedia, the free encyclopedia. A purchasing card (also abbreviated as PCard, P-Card, or ProCard) is a form of company charge card that allows goods and services to be procured without using a traditional purchasing process.

What is a government P-Card?

The Government Purchase Card (GPC) mission is to streamline payment procedures and reduce the administrative burden associated with purchasing supplies and services. The GPC provides “on the spot” purchasing, receiving, and payment authority for individuals other than contracting or purchasing officers.

When should you use a P-Card?

The Procurement Card can be used for delegated departmental purchases of allowable goods and limited services from suppliers who accept Visa. Per policy changes, repairs and services are no longer allowable Procurement Card transactions.

How do you use P cards?

The employee makes a request through their p-card software. This includes the vendor, price, and reason for purchasing. Their manager gets a notification, and has all the information they need without leaving their desk. The manager approves, and the employee now has access to the funds.

What is a ghost credit card?

A ghost card is a type of credit or debit card that allows you to assign different card numbers to different departments within your organization. When the employees of the department use their ghost credit cards, the purchases are charged back to the specific department within which the employees work.

What is a declining balance credit card?

A declining balance card is a UD credit card that is open for a finite amount of time for a specific amount of funds.

What are the benefits of procurement cards?

Advantages/Pros: Procurement cards reduce the cycle time of purchasing transactions. Procurement cards can improve supplier relations as suppliers receive a payment within 2-5 days. Procurement cards can reduce the number of supplier invoices, which could lead to a reduction in expenses on accounts payable personnel.

What are the benefits of the purchase card?

Benefits of a Purchasing Card Program can include:

• Convenience (simplified purchasing and payment process)
• Efficient payment method.
• Lower transaction costs.
• Rebate revenue.
• Improved purchasing data analytics.
• Alternative to petty cash.
• Immediate payment to vendors.
• Emergency preparedness.

What is P-Card reconciliation?

The P-Card Reconciliation Report allows accountants to reconcile imported credit card expenses for Certify users against the credit card provider’s statements for each user.