In an ongoing effort to improve and streamline the Stanford Purchasing Card (PCard) experience, several enhancements to the Purchasing Card module within Oracle Financials will launch on July 17.
Additionally, to continually improve and support purchasing practices and policies that are compliant, responsible and appropriate, the suspension process for improper use will be updated in Fiscal Year 2024.
July enhancements to fields in the PCard Module
Five enhancements to the PCard module make it easier for cardholders and verifiers to document and record PCard transactions. These enhancements are described in more detail in the following chart. To view screenshots, scroll down to Screenshots of the PCard Enhancements on this page.
| Field in the PCard module | What changes on July 17 | Benefit of the change |
|---|---|---|
| Business purpose | The field will be updated to require complete Business Purpose details.
The Business Purpose must include the capitalized words WHO: WHAT: WHEN: WHERE: WHY: Example: |
Complete business purpose details support approvers and financial managers and auditors in ensuring compliance and appropriate cost allocation. |
| Receipt missing? Are you sending backup documents? |
These fields will include updated questions about missing receipts and documents.
|
This change clarifies the process to provide receipts and streamlines the verification process. |
| Was correct sales tax paid? |
This field will include updated tax locations and instructions.
|
This allows preparers to easily identify their appropriate tax location to ensure accurate use tax accrual. |
|
Does this purchase include a personal expense? |
This field will include a new drop-down menu.
|
This change promotes financial stewardship and accountability and supports the user in taking appropriate action when an accidental personal charge is incurred. |
| Populate Approvers button |
A new button will add approvers automatically.
|
|
Fiscal Year 2024 changes to support proper use of PCards and TCards
An updated suspension process for individual (not departmental) Purchasing Cards (PCards) and Travel Cards (TCards) rolls out in Fiscal Year 2024. Designed to reduce risk to the university and encourage financial stewardship of these university-issued credit cards, the updated suspension process reinforces proper use of cards with regard to:
- Timely processing: Processing transactions in a timely manner is important to ensure expenditures are correctly reported.
- Appropriate charges: All card purchases must be for the benefit of the university.
Learn more about this updated suspension process for repeated force cleared transactions or multiple accidental personal charges in the Fingate Announcement Updated Card Suspension Process to Support Proper Use.
In case you missed it: September update to PCard and TCard identity verification
PCard and TCard cardholders who contact JPMorgan Chase to activate or ask questions about their card must provide different identifying information starting September 1, 2023. When contacting JPMorgan Chase, the cardholder must provide the last four digits of their Stanford employee ID, rather than the last four digits of their Social Security Number (SSN), and their date of birth to verify their identity. Learn more about this change on Business Expense Updates and Hot Topics.
Stay tuned
More information will be available about this policy and related enhancements in ERS and the PCard module later in the year.
If you have questions about any of these changes, please submit a support request to the Card Services team.
The updated Business Purpose must be at least 10 words long, and each field must be filled in ( WHO: WHAT: WHEN: WHERE: WHY:)
The fields for Receipt Missing? (default is No) and Are you sending backup documents? (default is blank) are now mandatory.
On the verification page, the user also must check an attestation that the expenses were incurred on behalf of Stanford and comply with all policies, guidelines, and regulations.
The updated Was correct sales tax paid? field includes additional tax locations and appropriate instructions. If No or Partial is selected, in the Use Tax section of the page the drop-down menu now includes other Stanford locations.
In the field Does this purchase include a personal expense?, options include Yes, No, or Partial. If Yes or Partial are selected, text will appear with instructions and a link to repay the personal expense.
The new Populate Approvers button adds approvers automatically.
