P-Card Overview & Benefits
Overview
The GW P-Card is a standard revolving card, in which the cycle limit is refreshed on the 21st of each month set up with the following control parameters:
- Maximum dollar amount per transaction: The department/school determines the maximum dollar amount that each cardholder can spend in a single transaction. The default per-transaction limit allowed for any P-Card is $3,500 unless there is a business need for an amount larger that has been justified by the Finance Director, Dean or Associate Vice President.
- Credit limit: The department determines the maximum dollar amount that can be spent by each cardholder during a cycle. The cycle begins on the 21st of the month and ends on the 20th of the following month.
- Merchant Category Codes: Each P-Card is further set up to exclude specific Merchant Category Codes when necessary.
Who Can Obtain a P-Card?
- Any GW employee working on behalf of the university is eligible to apply for a P-Card by completing the required P-Card Training and submitting a fully executed P-Card Enrollment Form.
- Cardholders should be those employees authorized to transact business or complete purchases on the university’s behalf. Please review Cardholder Responsibilities.
Liabilities
Departments are liable for all charges made on P-Cards assigned to their cardholders and are liable for charges on lost or stolen cards before the card is reported lost or stolen to the issuing bank. Fraudulent charges should be disputed, and the Bank will make an effort to recoup those charges and credit back the cardholder. In addition, the Department is liable for all transactions reallocated to sponsored project funds, including any charges that are unallowable according to the terms of the specific grant/award.
The P-Card staff in Procurement are responsible for ensuring P-Cards are administered in accordance with university’s policies and procedures.