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Business Purpose Policy for Purchase Cards

A brief business purpose statement is required for each purchase on the State of Wisconsin Purchase Card effective November 1, 2014. Include sufficient information that supervisors and auditors will clearly understand how the expense benefits UW Oshkosh. This may include titles of events and/or project information.

 

If the Purchase Card Log Envelope or a similar log spreadsheet is used, a business purpose statement needs to be added to the section labeled “Items Purchased.” For others that do not use the p-card log envelopes or the spreadsheet tracking method a business purpose is required on the receipt itself or a separate paper which is attached to the receipt. The receipt needs sufficient information that clearly states a description of the product purchased.

 

 

When the purchase card log envelope method is used to document the business purpose, then cardholders and supervisor’s signatures are required when the log is filled completely out.

 

 

If the receipt or spreadsheet method is used to document the business purpose, then cardholders and supervisor’s signatures are required every billing cycle on the purchase card statement.

 

 

Cardholder's and supervisor's signatures on the statement, log or spreadsheet simply states all transactions have reviewed, reconciled and agree that all charges are for UW Oshkosh business purposes only.

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by Poff, Susan L. last modified Nov 03, 2014 02:11 PM
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