What payment methods are available to me when making a payment under $10,000?
- Procurement Card (Pcard)
The Procurement Visa Card (Pcard) provides the fastest means by which to pay a vendor directly, and is commonly accepted by vendors who are traditionally set up to receive payments by credit card.
- Reduces the cost and amount of paperwork required to purchase low value goods and services
- Improves the timeliness of purchases and control of Merchant payments
- Improves management reporting on purchasing activities
- Improves supplier negotiations of supply terms
- When do I use the Procurement Card (Pcard)?
A Procurement Card can be used when making purchases for goods or services under $10,000. The P-Card can be used at:
- Any vendor that commonly accepts credit cards
- Baker’s Grill
- Cheque Requisition
The eShop Cheque Requisition can be used for low value purchases as outlined below:
- Payment for services to individuals who are not employees or students of the University in accordance with the Independent Contractor Questionnaire form
- Payment to vendors for services rendered or products that have been purchased where the vendor does not accept payments via the Procurement Card
- Awards, Prizes, and Honorariums
- Refunds for over-payments/deposits
- What is considered acceptable supporting documentation?
Supporting documentation may include, but is not limited to:
- Original receipts/internet receipts
- If a receipt does not have the vendor’s name or item description, the requestor must write the vendor’s name and description on the receipt
- If a meal receipt is for more than one individual, names of all guests (and their affiliation with the University) must be provided with the receipt
- Receipts must match to the amount submitted for reimbursement, if not, a brief explanation should be provided to avoid any delay
- Packing slips that clearly indicate the vendor, amount paid, and proof of ownership transferred (generally in conjunction with an order confirmation)
- A Certificate of Missing Documentation Form (if an original receipt is unobtainable/lost. No longer used for Travel and Expense)
- E-mails/Letters (Sponsorships and Honorariums may be supported with written notification including the details of the payment/award)
- University pamphlets and announcements (when paying an Honorarium)
- Payment to Independent Contractor Questionnaire and Indemnification Form, in conjunction with an original invoice (when service is being provided by an individual or small business outside of the University)
- What is considered unacceptable supporting documentation?
The following are not acceptable as backup documentation on their own, but may be acceptable in conjunction with one of the items listed above:
- Invoices which do not indicate payment has been made (specifically for reimbursement)
- Cashed cheques or copies of cheques made payable to a third party
- Credit card/ bank statements (unless accompanied by another proof of agreement, or as a currency exchange indicator)
- Credit card/ debit slips (except gas reimbursements or taxi receipts)
- Vendor quotes or statements
- What is the payment turnaround for CDN/US cheques/direct deposits?
- Requisitions usually take 5-10 business days from the point the requisition is received in the Business Office.
- Ensuring completeness of the requisition and appropriate supporting documentation will help expedite the process.
- If a cheque is required by a specific date, clearly indicate in the “due date” field.
- If a cheque is required RUSH (i.e. next day), contact Accounts Payable to notify of the requirement.