P-Cardholder Training Kent State University

What is the purpose of the P-card program? To streamline the purchasing and accounts payable processes To reduce paperwork To facilitate quick payments to vendors All of the above

Who is responsible for reconciling all the transactions that post on the cardholder statement? Accounts Payable Cardholder and Reconciler P-Card Administrator Approver

What form is used to request changes to established credit limits? Purchasing Card Update Update Information Form Change of Information Form Purchasing Card Maintenance Form

Transactions must be approved by what day of the month? The 30th of the month The 1st of the month The 15th of the month The 10th of the month

Certain types of purchases are not allowable on the p-card, even if the merchant’s category code (MCC) is acceptable. What are some of those purchases? Personal Purchases (such as personal memberships) Independent Contractors Cash Advances Gift Cards All of the above

Grant and cost share purchases can be charged to departmental p-cards Grant and cost share purchases can be charged to departmental p-cards. (True or False) True/False

Who is responsible for approving all the transactions that post on the cardholder statement? Accounts Payable Cardholder and Reconciler P-Card Administrator Approver

It is okay for cardholder, reconciler and approver to share their PaymentNet password. (True or False) True/False

If a cardholder suspects fraud or a lost/stolen card, should they: (True or False) Call the Cardmember service number on the back of the card and then call the P-card administrator. True/False

It is okay to write down p-card information and provide it to another employee. (True or False) True/False

Kent State University is a tax-exempt public university and exempt from the payment of Ohio Sales Tax. What should you do if charged an Ohio Sales Tax for an online purchase? Contact the merchant to obtain a sales tax credit and supply a tax exemption certificate if necessary Dispute the transaction and allocate to an index and account and marked as Reviewed in PaymentNet Call the Cardmember service number on the back of the card All of the above

The user should log out each time he or she is finish using PaymentNet The user should log out each time he or she is finish using PaymentNet. (True or False) True/False

When should the P-card be surrendered/terminated? Leaves of absence in excess of one month Upon termination of employment Transfer to a new department All of the above.

What is the proper way to handle a cancelled p-card? Shred it Turn in to P-card administrator in Accounts Payable for proper destruction Throw it away Retain for your records

What is the purpose of reconciling transactions in PaymentNet each month? To ensure that all charges have been reviewed for correctness (e.g., dollar amount, etc). To facilitate the recording of expenses in Banner in a timely manner To indicate that the transactions represent approved purchases All of the above

Which of the following is NOT a type of limit imposed on the p-card? Monthly limit Single transaction limit Weekly limit Number of daily transactions

Merchants are required to provide a transaction record (receipt) which details the items purchased. (True or False) True/False

If you attached an electronic copy of a receipt to a PaymentNet transaction, you no longer need to maintain a local copy (either hard copy or electronic of that receipt. (True or False) True/False

What is the name of the system that cardholders and reconcilers use to review and allocate transactions? CashNet Online card statements Finance Self-Service Banner PaymentNet

Disputed transactions must still be allocated to an index, account, commodity code and marked as “Reviewed” in PaymentNet. (True or False) True/False

Which of the following is false: Transactions can be reconciled as soon as they appear in PaymentNet Transactions must be reconciled by the 15th of the month in which their cycle ends The last day of the purchasing card cycle is the first business day of the month Transactions can only be reconciled after the pcard cycle ends.