| SECTION A: University of Nebraska Purchasing Card Program | ||||||||
| Page 7 | ||||||||
| V. PROOF OF PURCHASE DOCUMENTATION | ||||||||
|
The Purchasing Card program facilitates point-of-sale purchases, giving authorized cardholders the ability to purchase specific goods directly from a vendor/supplier. The Purchasing Card will eliminate the time and effort spent on processing requisitions and other internal forms, filing of purchase order copies, and the reconciliation of invoices. With this authority comes the responsibility for maintaining adequate documentation at the source of the transaction. It is the responsibility of each department and/or cost center to assign responsibility for record retention in accordance with the University's Records Retention Policy. Documentation MUST support an authorized (acceptable) business purpose of all transactions made with the Purchasing Card. Documentation must be maintained in the source department for three (3) years, plus current year. For purchases charged to a grant, documentation must be maintained in the department which administers the grant for three (3) years plus current year, after the grant's conclusion. Supporting documentation can take many forms and must consist of at least one of the following:
|
||||||||
