P-Cards

A common myth about purchasing cards (P-cards) is that they are easy targets for fraud and employee misuse. The pervasiveness of this myth may have convinced some organizations to resist their

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An increasingly popular practice in the payments arena is the use of Purchasing Cards (P-cards). P-cards enable AP to cut down on administrative costs, eliminate paper, and capture lucrative… Read More

Accounting rules state that employee expenses should be reported during the period in which they are incurred. The IRS says expenses should occur within a “reasonable” period of time, which it

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There are several complexities regarding the way in which some jurisdictions’ p-card programs handle incentives—or rebates—for grant-funded card spend. Any AP professional involved in

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A virtual payment card is, as its name suggests, non-physical—it’s a 16-digit account number, just like a credit card, but there is no actual card. Generally, it is for a one-time use; that is, a… Read More

In a recent IOFM P-card survey, the opportunity to receive rebates was cited as the second most important benefit of a card program by nearly half of the respondents. Rebates or revenue share enhance

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P-card programs have come a long way since the first purchasing cards came into use in the late 1980s. “When we think of p-cards, we typically think about the traditional ‘card in hand’ type of

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If a p-card program is under consideration at your organization, it is imperative that AP makes a case with the controller and CFO for participating in the dialogue. During the decision-making

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A sample request for proposal for a P-card program.

Microsoft Word

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