Changes to P-Card and T&H Card Program Effective July 1, 2020
With the start of the 2021 Fiscal Year, we wanted to make sure you were aware of the P-Card and T&H Card Program Changes that also became effective July 1st!
When you signed the form acknowledging the receipt of your P-Card and/or T&H Card you agreed to comply with the terms and conditions of the Iowa State University Card Programs. Those terms and conditions have changed, effective July 1st, and now include the following terms and conditions in bold under "Procurement Cards" and "Travel and Hospitality Cards" below.
Continuing to use your P-Card and/or T&H Card constitutes your agreement to abide by these amended terms and conditions. If you no longer agree to comply with the terms and conditions of the Iowa State University Card Programs (that now include the changes stated in bold below under "Procurement Cards" and "Travel and Hospitality Cards" and in the linked document), please contact cardservices@iastate.edu with a request to have your card(s) canceled.
The Iowa State University Credit Card Suspension Procedure has also been changed to reflect the changes to the terms and conditions of the Iowa State University Card Programs.
Procurement Cards (P-Card)
Reconciling Transactions
Procurement cardholders must enter legible, itemized receipts, business purpose, Worktag(s) and transaction description information to their card transactions or provide that information to their Procurement and Expense Specialist so that the transactions can be reconciled within thirty days following the transactions posting to Workday. Failure to enter or provide this information within thirty days will be grounds for suspension of card privileges. Suspended cards may be reinstated when all outstanding transactions are reconciled.
Procurement Cardholders whose card is suspended due to this issue more than twice will permanently lose their card access.
Unreconciled card transactions that reach 60 days past the post date to Workday will be moved to the Cardholder’s U-Bill. Transactions that post to the U-Bill will only be reversed with the permission of the Senior Vice President for Operations and Finance or their designee. Cardholders who have extenuating circumstances or supplier issues that preclude them from completing the transaction verification will not be subject to these late transaction penalties if Procurement Services (cardservices@iastate.edu) is contacted for assistance.
Procurement and Expense Specialists (PES) will contact cardholders regularly to assist with reconciling transactions. In addition, PES will remind cardholders with transactions that exceed 30 days that action needs to be taken to ensure that their card remains active.
Non-Compliant Activity
Cardholders who have been found to have violated the terms of the cardholder agreement (purchased restricted items, failed to reconcile transactions, shared their card, split transactions to exceed limits, etc.) will be issued an email warning regarding the violation from Procurement Services. This will be documented in their card profile. A cardholder that has three violations may be subject to permanent card suspension.
Travel and Hospitality (T&H) Cards
Travel and Hospitality cardholders must upload legible, itemized receipts for items that exceed $75.00, must provide a business purpose, and Worktag(s) on their expense reports or provide that information to their Procurement and Expense Specialist so that the transactions can be entered into an expense report and approved within thirty days following the transactions posting to Workday. Failure to enter or provide this information within thirty days will be grounds for suspension of card privileges. Suspended cards may be reinstated when all outstanding transactions are reconciled to an Expense report and approved.
A T&H cardholder whose card is suspended due to this issue more than twice will permanently lose their card access.
Unreconciled card transactions that are not added to an expenses report and approved within 60 days past the post date to Workday will be moved to the Cardholder’s U-Bill. Transactions that post to the U-Bill will only be reversed with the permission of the Senior Vice President for Operations and Finance or their designee. Cardholders who have extenuating circumstances or supplier issues that preclude them from completing the transaction verification will not be subject to these late transaction penalties if Procurement Services (cardservices@iastate.edu) is contacted for assistance.
Procurement and Expense Specialists (PES) will contact cardholders regularly to assist with reconciling transactions to expense reports. In addition, PES will remind cardholders with transactions that exceed 30 days that action needs to be taken to ensure that the card remains active.
Non-Compliant Activity
Cardholders who have been found to have violated the terms of the cardholder agreement (failed to reconcile transactions to an expense report, shared their card, split transactions to exceed limits, etc.) will be issued an email warning regarding the violation from Procurement Services. This will be documented in their card profile. A T&H cardholder that has three violations may be subject to permanent card suspension.
Thank you for using your Iowa State University P-Card and T&H Cards in accordance with the terms and conditions of the Iowa State University Card Programs.
If you have questions, please reach out to Cory Harms (clharms@iastate.edu), Director of Procurement Services, so that we can make sure your questions are addressed.
Download the changes to the Iowa State University Card Policy here.
Credit Card Suspension Procedure
As part of your agreement to become an Iowa State University Credit Cardholder you committed to attaching legible, itemized receipts and entering the business purpose, Worktag(s) and transaction description within 30 days of the transaction posting to Workday, OR to provide that information to your procurement and expense specialists (PES) at finance_delivery@iastate.edu within this same time period.
As communicated in your agreement, failure to enter or provide this information within 30 days of the post date will be grounds for suspension of cardholder privileges.
What happens after the transaction(s) posts to workday?
Once a transaction posts to Workday the 30 day clock begins.
Your Procurement & Expense Specialist (PES) will reach out to see if assistance is needed or if there is a problem with a transaction that has posted to Workday and has not yet been verified, or for which and Expense Report has not been completed.
If you notice a problem with a transaction, please contact cardservices@iastate.edu immediately. Cardholders who have extenuating circumstances or supplier issues that preclude them from completing transaction verification may not be subject to the late transaction penalties if they contact Procurement Services (cardservices@iastate.edu) for assistance.
What happens when a transaction posted 30 days ago?
Card Services will be notified and a review will be conducted. The Director of Procurement will contact the cardholder about the overdue card transactions and potential card suspension.
If suspension is recommended, the card will be deactivated and any attempted transactions will be declined.
Suspended Iowa State University Credit Cards can be reinstated when all Procurement Card verifications and/or Expense Reports have been completed and approved and the Director of Procurement and Cost Center Manager (CCM) are informed of the completed and approved actions.
Once the completed and approved actions have been verified, the Director of Procurement will take action to reinstate the card.
However, in the event of a third suspension, the card will not be reinstated unless extenuating circumstances are present and the cardholder receives approval by the Director of Procurement Services.
What happens when a transaction posted 60 days ago?
If a cardholder’s transactions equal or exceed 60 days past the post date to Workday, and communication to the cardholder does not resolve the overdue transactions or the cardholder does not respond, transactions will be charged directly to the cardholder’s U-Bill.
Transactions that post to the cardholder’s U-Bill may only be reversed with the permission of the Senior Vice President for Operations and Finance, or their designee, and can be requested through the Credit Card U-bill Reimbursement Request Form.
Why is this important?
The supplier is paid on the transaction post date, and the University’s credit card charges are paid by electronic fund transfer, regardless of incorrect totals or disputed charges.
The transaction post date also starts a 60-day clock for disputing and identifying fraud to U.S. Bank. If a transaction is not disputed or identified as fraud to U.S. Bank within 60 days, Iowa State University will be held liable for the charge.
Credit card fraud continues to be a financial threat to Iowa State University. As cardholders you are our best defense as the most effective way to identify fraudulent activity is through the cardholder’s prompt review of each of the transactions that have posted to their cards.
If you see something that you did not authorize, particularly from an unknown supplier, do not wait - report it to the Card Services Team immediately (cardservices@iastate.edu) so that they can investigate. If the transaction is determined to be fraudulent, the Card Services Team will notify U.S. Bank Fraud Prevention and guide you through the fraud case process.