- Obtaining a Card
- Use of the Card
- Lost or Stolen Cards
- Card Record Keeping
- Payment of Card Expenses
- Card Expense Queries
The University has adopted the NAB Visa Card to assist the purchase of goods and services on behalf of the University. The benefits of the card include the reduction of administrative costs and paperwork in purchases of lower values, proof of GST status on purchases normally made from petty cash and more direct action and control to user locations and departments.
The Director of Finance is responsible for the operation and control of the system and has authority to cancel immediately any card considered as being misused. The Director of Finance may also set and vary the credit limit of any card. Unless otherwise agreed, the card will have a limit for local use of $5,000. Where a cardholder is required to undertake international travel, the limit will be $10,000.
The Executive Dean, Director, Deputy Vice-Chancellor or Vice-Chancellor will recommend the issuing of a card to a staff member and will take responsibility to ensure the staff member adheres to policy and procedures in relation to the use of the card.
3. Obtaining a Card
- The Director of Finance is responsible for establishing card accounts and the issuance and cancellation of cards.
- Request for cards (or variations to existing cards) should be forwarded to the Director of Finance for authorisation. Upon receipt of the request, a Card Application Form will be sent to the staff member who should complete the form and forward to the Visa Card Administrator, Finance Office at North Sydney.
- Finance will apply to the NAB Bank for a card and arrange for the card to be forwarded to the cardholder.
Forms / information to apply for a card:
The cardholder will also acknowledge:
- That they are aware of the responsibilities and restrictions placed on their use of the card prior to taking possession of the card; and
- They are responsible for the security of the card and must not allow it to be used by any other person.
4. Use of the Card
- The card may only be used for authorised official university purposes.
- The card cannot be used in ATM machines and must NOT be used to obtain cash advances. One exception to this may be travel overseas. If this is required, application for approval should be directed to the Director of Finance. Further, an acquittal must be completed reconciling the amounts spent against the cash advance and forwarded to the Visa Card Administrator Finance Office at North Sydney. Any unspent cash advance should be hand delivered to a campus Finance Office.
- The user must not exceed the monthly credit limit.
- The card may be used for telephone/internet purchases by giving the card number over the telephone or internet after receiving prior approval for the purchase.
- On receipt of the goods or services the user should obtain a Tax Receipt voucher, and itemised cash sales invoice if available from the supplier. A detailed record of purchases made over the telephone and internet orders should be kept.
- The card is not to be used to purchase goods for personal use.
- The card should not be used for IT equipment purchase (incl. mobile phones) as these items should be purchased via the IT procurement process.
- Where a card is used to pay for entertainment and hospitality expenses, it is the responsibility of the most senior staff member present to meet the cost. That is – where more than one staff member are attendees the credit card of the most senior staff member will be used to ensure approval by a non-attending officer.
- The card may be used for Cabcharge expenses.
Note: Misuse of the card will necessitate the University taking disciplinary and/or legal action against the cardholder.
5. Lost or Stolen Cards
If at any stage a card is lost or stolen, the NAB Bank must be advised immediately on their twenty-four hour, 7 day a week toll free number. The number is 1800 033 103.
It should be noted that until the bank is notified all unauthorised purchases made on the card are the responsibility of the University. To this extent, notification must occur immediately the card is lost or stolen. Further notification, in writing, must be given to the Director of Finance. This notification must include the details concerning the card's disappearance.
6. Card Record Keeping
It is critical that evidence of each transaction and authority to incur the expenditure is obtained including purchases via the internet. This will allow you to keep within the total credit limit and assist in reconciliation with the online card statement. It should be noted that ultimately the information coded into the online facility against each transaction will be used for journal entry. It is therefore important that the Natural Account Code, and Project Code/Source of Funds as well as the Tax Inclusive field is completed accurately and that the narration is an adequate description for inclusion into the General Ledger as well as providing sufficient detail to inform the cardholder’s supervisor of the purpose of the transaction for approval.
7. Payment of Card Expenses
- Details of card expenditure are normally available online within a few days of the purchase date. Transactions may be coded and approved throughout the statement period. A period close off is made on the 20th of each month for the previous month. All transactions must be coded and approved by this date.
- The cardholder must code each item with the correct Natural Account Code, Project Code/Source of Funds, Tax code and provide sufficient detail in the details field. Appropriate documentation to support each transaction must be scanned and attached to each transaction. A tax invoice is required to ensure that GST can be claimed from the ATO.
When coding each item the descriptions below are indicative of the sufficient detail:
- For entertainment and hospitality – the purpose and the attendees both internal and external
- For incidental purchases the nature of the supply and the anticipated users
- For incidental travel expenses the parties involved in the travel and the purpose of the travel (i.e. conference etc.).
- For FBT entertainment, expenditure must be split between ACU staff and non-staff by completing the Entertainment screen accordingly.
- Transactions must be authorised by the supervisor online by logging into Flexipurchase. The supervisor will receive a prompt notifying them of transactions requiring approval at the end of the statement period.
- At the end of the period, ensure source documents are scanned and attached against the relevant transaction for all transactions regardless of value, print a copy of the transactions using the NAB Bank Statement function, sign the form and send to the Visa Card Administrator Finance Office at North Sydney.
Note: A credit card slip or EFTPOS slip that does not include itemised purchase details is not a tax invoice and is not evidence of a transaction for GST purposes.
- Finance will be provided with an extract from Flexipurchase which will be used as a journal entry into the General Ledger.
Note: It is therefore critical that transactions are coded correctly.
8. Card Expense Queries
Where a card user has a query on their Statement, the first contact should be with the supplier. If the supplier agrees that the charge is incorrect or the goods have not been delivered or incorrectly delivered, they must organise for a credit to be issued. The cardholder is responsible for this enquiry and to ensure that credits, where agreed, ultimately appear on the statement.
Where agreement cannot be reached with the supplier, the transaction should be marked as a disputed transaction and a Disputed Transaction form, available online, completed and faxed to the NAB Bank who will take up the complaint with the supplier.
- Credit Card Policy (Policy, PDF File, 112.3 KB)
|Policy applies to||
|Governing Authority||Chief Operating Officer|
|Responsible Officer||Director, Finance|
|Date of Last Revision||05/12/2017|
|Effective Date of Last Revision|
|Date of Policy Review *||06/12/2020|
* Unless otherwise indicated, this policy will still apply beyond the review date.
Page last updated: 2017-12-06
Short url: http://www.acu.edu.au/policy/582800