David,
You really need to have a true "Purchasing Card" rather than a "Credit
Card." A purchasing card arrangement can usually be negotiated with your
bank or credit card company. A "purchasing card", (unlike a credit card)
can be posted to your account and must be certified for payment in a very
short time. Ours usually "hits" within 48 hours of the actual purchase.
You are very much aware of outstanding purchases...because they appear on
your computer screen every morning from the day before. They work very much
like a debit card which you may have as a function of your checking account.
Because of this, they work very well on contract and grant project accounts.
You can have a separate card for each account if you so desire. (or you
can have one card and distribute the charges internally, if you so choose).
They are "underwritten" by a large credit corporation, so they will have a
logo (like VISA or MasterCard) on them and can be used at any merchant which
accepts the charge card from that credit corporation. You need to have your
university negotiate for this type of card.
We at the University of Florida have been using them for some time now and
in fact, are doing away with LPO's (limited purchase orders) as of 1 Jan
2000.
Hope this helps!
Rusty Okoniewski, Interim Director
IFAS Sponsored Programs
University of Florida
G040 McCarty Hall-D
PO Box 110110
Gainesville, FL 32611-0110
Telephone: (352) 392-2356
Fax: (352) 392-8479
E-mail: xxxxxx@gnv.ifas.ufl.edu
Visit IFAS Sponsored Programs Homepage
http://grants.ifas.ufl.edu
-----Original Message-----
From: Research Administration List [mailto:xxxxxx@HRINET.ORG]On Behalf
Of David Battey
Sent: Tuesday, November 23, 1999 6:03 PM
To: xxxxxx@HRINET.ORG
Subject: Re: Pro-Cards or Credit Cards for grant supplies
Forwarding this request for information to our own Grants Accountant,
Mary Wilson, I received the following information:
> We have most of our grants using Pro Card for supplies and services.
The biggest
> problem to us right now is that the closing dates on the credit card
statement are so
> far behind, that sometimes when the charges are applied to the grant
account it is
> after the termination dates of the grants. Thus, we have to rely on
the PIs to let
> Accounting know that there are charges for a given month. For
example, the grant
> ends August 31, and the PI make charges August 29, that bill will not
come in until
> almost the end of September, and if the PI continue to spend, when
that Pro Card
> bill is charged to the grant, it can overspend the grant.
> --
> Mary Deas Wilson
> Grants Accountant
> College of Charleston
> Voice: 843-953-5570 Fax: 843-953-5996
> E-mail: xxxxxx@cofc.edu
Please contact Mary if more detail is requested.
--
[:)] Dave
_______________________________________________________
David S. Battey
Information & Technology Coordinator
Office of Research and Grants Administration
College of Charleston, Charleston, SC, 29424
Voice: (843)953-5673 Fax: (843)953-6577
Internet: http://www.orga.cofc.edu/
E-mail: xxxxxx@cofc.edu
_______________________________________________________
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