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The Welsh Procurement Card at Aberystwyth University PowerPoint PPT Presentation

The Welsh Procurement Card at Aberystwyth University WELSH PURCHASING CARD (WPC) What is a Purchasing Card? A Charge Card that is: Issued to Individuals Belongs to and is charged to the Organisation Like a Credit Card But with More Control

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The Welsh Procurement Card at Aberystwyth University

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The welsh procurement card at aberystwyth university l.jpg

The Welsh Procurement Card at Aberystwyth University


Welsh purchasing card wpc l.jpg

WELSH PURCHASING CARD (WPC)

What is a Purchasing Card?

  • A Charge Card that is:

    Issued to Individuals

    Belongs to and is charged to the Organisation

  • Like a Credit Card

  • But with More Control


Welsh purchasing card wpc3 l.jpg

WELSH PURCHASING CARD (WPC)

Why use Purchasing Cards?

  • Because they provide an efficient ordering and payment mechanism for low risk procurement

  • Because they save time and effort

  • Because they allow those with the need to satisfy that need without the intervention of others (one-to-one)

  • Because they can increase the visibility of what has been bought and provide enhanced management information


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The Paperchase Process

NEGOTIATION & ORDER

REQUISITION

Purchasing/

Supplies

GOODS

GOODS

Supplier

Employee

COPY OF

PURCHASE

ORDER

REQUEST

FOR

AUTHORISATION

INVOICE

CHEQUE

AUTHORISED

PAYMENT

Bank

INTERNAL

BUDGET

REPORT

STATEMENT FOR

RECONCILIATION

Manager

Finance


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The Purchasing Card Process

ORDER

Supplier

RECEIVE GOODS/SERVICES

Employee

RECORD ON LOG


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The Streamlined Process

Once a Month

Supplier

Employee

STATEMENT FOR RECONCILIATION

STATEMENTS & MIS

RBS Bank

Card Administrator


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WELSH PURCHASING CARD (WPC)

Risks?

Procurement Cards can help organisations to empower staff to obtain the goods and services they need to do their jobs with the minimum of bureaucracy.

That empowerment requires trust but with trust comes responsibility.


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WELSH PURCHASING CARD (WPC)

What are the Controls?

  • Transaction Limit

  • Monthly (credit) Limit

  • Merchant Category Group (MCG) Blocking

  • Visibility

  • Laying down the Rules !


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MERCHANT CATEGORY GROUPS

1 Building Services

2 Building Materials

3 Estate & Garden Services

4 Utilities & Non-Auto Fuel

5 Telecommunication Services

6 Catering & Catering Supplies

7 Cleaning Services & Supplies

8 Training & Educational

9 Medical Supplies & Services

10 Staff - Temporary Recruitment

11 Business Clothing & Footwear

12 Mail Order/Direct Selling

13 Personal Services

14 Freight & Storage

15 Professional Services

16 Financial Services

17 Clubs/Associations/Organisations

18 Statutory Bodies

19 Office Stationery and Equipment

20 Computer Equipment & Services

21 Printing & Advertising

22 Books & Periodicals


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MERCHANT CATEGORY GROUPS

23 Mail & Courier Services

24 Miscellaneous Industrial/Commercial Supplies

25 Vehicles, Servicing & Spares

26 Automotive Fuel

27 Travel

28 Auto Rental

29 Hotels & Accommodation

30 Restaurants & Bars

31 General Retail & Wholesale

32 Leisure Activities

33 Miscellaneous

34 Cash


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WELSH PURCHASING CARD (WPC)

What can be bought with Purchasing Cards ?

Anything!

As long as it is legitimate use of public money


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WELSH PURCHASING CARD (WPC)

How do Purchasing Cards work?

  • Issued to individual members of staff

  • (May also be held by supplier)

  • Purchases made face-to-face or by fax, phone, on-line, etc

  • Transactions recorded on Log

  • Reconciliation against Bank record Online

  • Transactions approved and coded Online

  • Exported and Posted electronically to General Ledger


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WELSH PURCHASING CARD (WPC)

VAT & Levels of Supplier Capability

  • Level I - “Tesco”

  • Level II - Summary VAT & Customer Reference Number

  • Level III - Full VAT (Line Item Detail)


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FRAUDULENT USE!

  • Corporate Liability Waiver of

    - £50K per Card per Annum

    - £1.5M per Annum for the University

  • Lost/Stolen Cards -Organisation’s liability limited to £25 for illegal use


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WELSH PURCHASING CARD (WPC)

Reconciliation

  • Transaction data is available on a continuous basis 24 - 48 hours after posting.

  • Can be viewed by any authorised person using Smartdata Online.

  • Typically reviewed by Cardholder and authorised by Manager.


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WELSH PURCHASING CARD (WPC)

Smart Data On Line

  • Authority based Online Reporting Tool for:

    Cardholders/Managers/Supervisors/Administrators

  • Data consolidation, coding and reporting

  • Web based application = 24/7 access to transactions

  • Error free integration and presentation of transaction data to:

    • Review / Approve

    • Add detail

    • Cost Allocate and split transactions

    • Report and Export to General Ledger, etc


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