PCard Program Glossary of Terms
PCard Program Glossary of Terms
● Approver: Reviews and approves the transactions in GCMS. Verifies the cardholder followed procedures, including the single-transaction limit, and used the correct charge account number. They also will verify whether funds are available in the charge account.
● Cardholder: The person whose name appears on the PCard.
● Cardholder Agreement: The agreement outlining the policies regarding PCard use. It must be signed by all persons receiving a PCard.
● Compromised Cards: PCards that have unauthorized activity requiring them to be cancelled and new card issued.
● Default Account: The charge account number provided on the PCard application. The default account number may be used if transactions are not properly reconciled by the deadline. The default account may not be an appropriated account (10 account) nor a grant account.
● Delegate (Department PCard only): An individual who has permission to check out and utilize a Department Card.
● Disputed Charges: If a cardholder finds a discrepancy on a monthly statement, the cardholder should contact the vendor and attempt to resolve the problem directly. All disputed items should be indicated in the description box on the transaction summary page in GCMS.
○ If a Cardholder cannot resolve a disputed item directly with the vendor, the cardholder should contact Citibank at 1-800-248-4553.
○ The cardholder must submit a dispute within 10 days from the end of a billing cycle in which the questioned transaction occurs.
● Global Card Management System (GCMS): A secure web-based card management tool available to reconcilers and approvers. The website allows editing and allocation of transactions to specific accounts, transaction review, transaction approval by approvers and management of transactions.
● Historically Underutilized Business (HUB): Minority, woman and/or service disabled veteran owned businesses. Cardholders are strongly encouraged to make credit card purchases from certified HUBs as defined in Texas Government Code 2161.001. These purchases are tracked and monitored.
● Itemized Invoice/Receipt/Documentation: A merchant-produced document showing the relevant details for each item purchased including quantities, amounts, descriptions of what was purchased, the total charge amount, and the merchant's name and address (e.g. sales receipt, original invoice, packing slip, credit receipt, etc.)
● Merchant Category Codes (MCC): Determines types of vendors where cards can be used. This code identifies the primary goods or services provided by the merchant. Please note that many vendors who operate within acceptable Merchant Category Codes may sell some items that are restricted from purchase with the PCard. Just because the vendor sells it does not mean the Cardholder can buy it. Please see the Prohibited Merchant Category Codes.
● Monthly Spending Limit: The maximum amount of available money a cardholder can spend within one reporting cycle on their PCard. This limit may fluctuate based on cardholder need as determined by the Credit Card Services Administrator.
● Object Code: A four-digit code assigned to items purchased in a transaction; it is used to categorize purchases for reporting purposes. If unsure on what object code to use, go to the Texas Comptroller Manual of Accounts website and type the item in the search box. If more assistance is needed, email email@example.com
● Reconciliation Due Date: The tenth (10th) of each month. The day by which all reconciliation information and receipts for the billing cycle must be entered and uploaded into GCMS.
● Reconciliation: In GCMS, the cardholder (or reconciler for a department PCard) will enter a detailed description of the items that were purchased, charge account number, object code, vendor hold verification and attach receipts. It is also possible to split an individual charge to multiple accounts/object codes.
● Reporting Cycle: The monthly billing period which ends on the third of each month If the third falls on a weekend or holiday, the cycle ends on the previous business day.
● Single Transaction Limit: The maximum amount of money a cardholder can spend in one transaction. The Single Transaction Limit varies across the University. A single transaction may include multiple items but cannot exceed a total cost of the assigned single transaction limit. Departments may establish lower or higher limits for certain cardholders.
● Split Purchase: Breaking up a high-dollar purchase into smaller transactions to circumvent the internal controls that limit maximum dollar amounts for a single card swipe. Ex: If your single transaction limit is $500.00 you cannot have 2 separate transactions, totaling $509.00 for the purchase of file boxes as both transactions were conducted with the same vendor by the same cardholder.
● TWU Procurement Card (PCard): A MasterCard sponsored credit card issued to an approved TWU employee or department in the form of Individual PCards and Department PCards. These cards are for making authorized purchases on the University's behalf. Using the PCard eliminates the need for vendor set up, entering requisitions, and requesting reimbursements.
● Vendor in Good Standing: Per the Texas Government Code (section 403.055), state agencies are not allowed to do business with or make payments to entities that are on “warrant hold” (also called “credit hold” or “vendor hold”) with the State of Texas until the reason for the hold is resolved and the hold is lifted. As a Cardholder, you are REQUIRED to research the vendor’s hold
status before making any PCard purchase over $500 by visiting the Texas Comptroller of Public Accounts Vendor Hold Search Site.
Page last updated 10:00 AM, July 10, 2020