Re: Pro-Cards or Credit Cards for grant supplies Rusty Okoniewski 24 Nov 1999 10:15 EST
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 _______________________________________________________ ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ====================================================================== ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ======================================================================