Making a Purchase
Purchasing procedures require that the value of items purchased be $9,999 or less and be from the supplier that provides the best value to Baylor University. It is policy to seek competition and the lowest prices within the parameters of quality and delivery. Accordingly, when making a purchase, the Cardholder should take reasonable steps to ensure that they are receiving the best price.
A Cardholder will use the following checklist before making a purchase:
- Check and Review
- Check departmental budget funds. Budget funds must be available before making a purchase.
- Review authorized use on the Account Code Quick Reference Guide
- Check the account code the purchase will be charged to. All purchases are charged to a department and account code. The account code must be allowed in accordance with policy guidelines. If it is not in the dropdown option listing in PaymentNet, then the purchase is not allowed on the P-Card.
- Check the date the expense will occur to assure it is in the current fiscal year. Expenses that occur in the next fiscal year must be coded to account code #1529 and paid via Voucher.
- Select Supplier - Solicit from an adequate number of sources to assure the best price, quality, and delivery. Verify current price listing for suppliers who furnish standing price quotations or catalog prices on a recurring basis. Once a supplier is selected and confirmed that the goods are available that meet the specification and delivery requirements:
- VISA - Confirm that the supplier accepts VISA.
- Sales Tax - Inform the supplier that the purchase is for Baylor University and is sales tax exempt. For more details, see Tax-Exemption. Important Note: If you see tax on your transaction in PaymentNet, check your invoice/receipt. If no tax was added, then you were not charged tax. The reason it appears in PN is because the merchant did not run the transaction through as tax exempt. For audit purposes, include in your transaction notes that the invoice did not include tax and that no tax was paid.
- Shipping Information - Direct the supplier to include the following information on the shipping label and packing list:
- Cardholder's name and telephone number
- Complete campus delivery address
- The words "Purchasing Card Purchase"
- The supplier's order number
- Documentation of Order - Request that the order be sent to the Cardholder. This will ensure that the documents necessary for the record keeping are readily available to the Cardholder. For more details see Documentation.
- Notification of Delivery - Advise the individual within your area who receives merchandise to notify the Cardholder when delivery is made. Also tell them the supplier's name and order number, anticipated delivery date, number of boxes expected, carrier (UPS, Fed Ex, etc.).
- International Transaction Fee - International transaction fees for expenses paid to a foreign vendor will be charged separately in PaymentNet and not included in the invoice total as previously charged. Transaction notes will need to reference the foreign charge transaction details and a copy of the invoice will be required as backup for these transactions. If the charge is credited to your account, the credit amount will be different due to the exchange rate and the fee will not be credited.