CREDIT CARD POLICY AND PROCEDURES

Transcription

1 CREDIT CARD POLICY AND PROCEDURES Purpose Set out the requirements relating to the establishment, approval, responsibility and management of Corporate Credit Cards. Scope This policy applies to any staff involved in the ownership, operation, supervision, management or administration of GPTQ Corporate Credit Cards. Policy ISSUING, AMENDMENT AND WITHDRAWAL OF CORPORATE CREDIT CARDS ELIGIBILITY 1. Corporate Credit Cards will only be issued to GPTQ staff in accordance with GPTQ s Delegation Policy. 2. Corporate Credit Cards will not be issued to casual or temporary staff. 3. Corporate Credit Cards will only be issued to staff in accordance with GPTQ s Delegation Policy where the staff member agrees to accept and abide by the conditions of use as stated in GPTQ s Corporate Credit Card Statement of Responsibility. 4. Corporate Credit Cards will only be issued to staff who are able to produce documentation to establish their identity in accordance with the relevant legislation and as required by GPTQ s credit card issuer. ACQUIRING CREDIT CARDS FOR ALLOCATION Director of Operational Services will apply to GPTQ s credit card supplier for acquisition of new Corporate Credit Cards or replacement Corporate Credit Cards. DISTRIBUTION OF CORPORATE CREDIT CARDS Corporate Credit Cards will be distributed by the Director of Operational Services or their delegated authority. REGISTER OF CARD HOLDERS The Finance Team will maintain a register of Corporate Credit Card Holders. Prior to the distribution of the corporate credit cards the finance team must complete the Corporate Credit Card Holder register with the details listed below: 1. Name of Credit Card Holder 2. Card Account Number 3. Credit Limit 4. Card Expiry Date 5. Security Code 6. Copy of credit card to be on file to support the Corporate Credit Card Holder Register. Code: FIN-P-026 (05/15) Printed Copy is Uncontrolled Page 1 of 7

2 This register is to be kept in a secure manner to ensure the information is not used for inappropriate/unauthorised purposes. CREDIT LIMITS Credit limits for Corporate Credit Cards will be in accordance with GPTQ s Delegation Policy. Credit Card Limits can only be amended in accordance with amendments to GPTQ s Delegation Policy. RETENTION OF CARD ON TRANSFER OR SECONDMENT TO NEW POSITION Corporate Credit Card holders are not automatically eligible to retain and use their corporate credit when they take up duties in a new position or are seconded to a new position. The eligibility to retain a corporate credit card in the event that an employee is transferred or seconded to a new position will be in accordance with GPTQ s Delegation Policy. It is the responsibility of the corporate credit card holder to enquire with the Director of Operations as to whether the new position is eligible to hold a corporate credit card in accordance with GPTQ s Delegation Policy. In the event that the card holder is no longer eligible to retain their corporate credit card in the new position and that new position is permanent or in excess of 12 months, then the corporate card holder must surrender the corporate credit card to the Director of Operations. In the event that the card holder is no longer eligible to retain their corporate credit card in the new position and that new position is for a period less than 12 months, then the corporate card holder may retain their card in a safe location but must cease to use the corporate credit card for the duration of their appointment to the new position/secondment. LOST OR STOLEN CORPORATE CREDIT CARDS Where a corporate credit card is lost or stolen, the cardholder must immediately report the loss to: 1. Commonwealth Bank on to report the lost or stolen corporate credit card 2. Director of Operational Services or the Finance Team where the Director of Operations is not available. Lost or stolen corporate credit cards must be reported immediately to minimise the risk of unauthorised/fraudulent transactions on the card. WITHDRAWAL OF CORPORATE CREDIT CARDS A corporate credit card may be withdrawn for the following reasons: 1. Misuse of corporate credit card by the cardholder including unacceptable or inappropriate expenditure 2. Non-compliance with this policy 3. Transfer or secondment to a new position for 12 months or more 4. Cardholder leaves the employ of GPTQ 5. Amendments to GPTQ s Delegation Policy Code: FIN-P-026 (05/15) Printed Copy is Uncontrolled Page 2 of 7

3 Where a corporate credit card is withdrawn, GPTQ requires the cardholder to: 6. Destroy the card for security purposes by cutting through the card number and magnetic strip/chip. 7. Return the destroyed card to the Director of Operations 8. Undertake a reconciliation of their final statement and provide supporting documentation or 9. Where the cardholder is leaving the employ of GPTQ, provide all relevant documentation, receipts, invoices etc. so that a reconciliation can be undertaken by the finance team. All required documentation must be submitted to the finance team prior to finalising your employment with GPTQ. 10. Withdrawn corporate credit cards are to be recorded in the register of Corporate Credit Card Holders by the Finance Team. CANCELLATION OF CORPORATE CREDIT CARDS A corporate credit card will be cancelled for the following reasons: 1. Withdrawal of the corporate credit card 2. The cardholder leaves the employ of GPTQ For security purposes all cancelled corporate credit cards must be destroyed by cutting through the card number and magnetic strip/chip and the destroyed card returned to the Director of Operations Cancelled corporate credit cards are to be recorded in the register of Corporate Credit Card Holders by the Finance Team. CONDITIONS OF USE Corporate CreditCards are only to be used by the person whose name appears on the corporate credit card. The issuing of a corporate credit card gives the cardholder the authority to incur expenditure in accordance with GPTQ s Delegation Policy. All cardholders must provide monthly acquittal statements for their corporate credit cards by the 30 th of each month. All acquittal statements must be supported by tax invoices, tax receipts etc. and the acquittal statement must be authorised by the cardholders direct line manager. Acceptance of the corporate credit card constitutes agreement by the cardholder to abide by the conditions of use specified by the credit provider, all relevant GPTQ policies, and any reasonable instruction issued by GPTQ in respect to use of the corporate credit card. Corporate credit card is not to be used for non GPTQ expenditure. Any misuse of the corporate credit card may result in withdrawal and/or cancellation of the corporate credit card. Cardholders must complete and sign GPTQ s Corporate Credit Card Statement of Responsibility prior to corporate credit cards being issued to the cardholder. Code: FIN-P-026 (05/15) Printed Copy is Uncontrolled Page 3 of 7

4 Corporate Credit Cards are only to be used in circumstances where the cardholder is unable to obtain a tax invoice for submission to the finance team for processing and payment. Where a tax invoice is not available due to GPTQ not having credit facilities with the supplier, a credit application is to be obtained from the supplier and submitted to the finance team for completion and submission. Misuse of corporate credit card may result in disciplinary action or legal proceedings. MISUSE OF THE CORPORATE CREDIT CARD Misuse of the corporate credit card occurs when the corporate credit card is not used in accordance with this policy, associated procedures or any other relevant state or federal legislation. All credit card transactions are reviewed to ensure appropriate use of the corporate credit cards. If an employee is deemed to have misused their corporate credit card they will receive a written warning via or letter and/or the corporate credit card may be withdrawn. If further misuse occurs disciplinary action will be commenced against the cardholder in accordance with GPTQ policy. Where the misuse of the corporate credit card is due to personal use, the corporate credit card may be withdrawn and cancelled. Any personal expenditure charged to corporate credit cards will result in a tax invoice being issued to the cardholder to recover the personal charges from the cardholder. Where the cardholder fails to reimburse the personal charges in accordance with the tax invoice supplied, GPTQ will recover the expenditure from future expense reimbursement to the cardholder or the cardholders fortnightly salary. Cardholders should be aware that deliberate or intentional misuse of the corporate credit card could constitute fraud, which is required to be reported to the police. Corporate Card Responsibilities CARDHOLDER Corporate Credit Cardholders are responsible for: 1. Using the corporate credit card in accordance with this policy and associated procedures. 2. Using the corporate credit card in accordance with the rules and guidelines set out by the issuing bank 3. Using the corporate credit card in accordance with any relevant legislation 4. Ensure that the corporate credit card is used in accordance with GPTQ s Delegation Policy 5. Ensuring the safe custody of their allocated corporate credit card 6. Ensure the safe keeping and non disclosure of any PIN attached to the corporate credit card 7. Ensure that any PIN attached to the corporate credit card is not carried with the corporate credit card 8. Ensuring that the corporate credit card is only used by the person whose name appears on the corporate credit card 9. Immediately reporting lost or stolen corporate credit cards 10. All transactions undertaken on the corporate credit card Code: FIN-P-026 (05/15) Printed Copy is Uncontrolled Page 4 of 7

5 11. Ensuring that all expenditure is in relation to GPTQ approved business 12. Ensuring that the corporate credit card is not used for personal or private expenditure 13. Obtaining a tax invoice for all expenditure charged to the corporate credit card 14. Ensuring that goods and services are received in good order and condition 15. Ensuring a credit is received for any returns or refunds 16. Resolution of all disputed transactions with the supplier within as soon as the disputed transaction is identified, this is not a finance function. 17. Advising the Director of Operation Services immediately that it appears a disputed transaction cannot be resolved with the supplier for reference to the Commonwealth Bank as a disputed transaction 18. Ensuring that all internet purchases are confirmed secured sites 19. Monthly acquittal of the allocated corporate credit card in accordance with this policy 20. The return and/or destruction of any corporate credit card that is withdrawn or cancelled in accordance with this policy. DIRECTOR OF OPERATIONS/FINANCE TEAM 21. Acquisition of corporate credit cards 22. Coding and timely processing of duly completed and authorised monthly corporate credit card acquittal statements. 23. Obtaining adequate information, where required, from the corporate credit card holder to ensure accurate coding of expenditure charged to corporate credit cards 24. Submission of disputed corporate credit card transactions with credit card supplier when advised by credit card holder of a disputed transaction 25. Querying any unusual approved transactions with the approving officer 26. Distribution of monthly corporate credit card statements in a timely manner DIRECT LINE MANAGER (AUTHORISER) 27. Approve monthly corporate credit card acquittal statement 28. Check all supporting documents are attached to monthly corporate credit card acquittal statement 29. Check all expenditure on corporate credit cards is in line with this policy and any other relevant policies including the Delegations Policy 30. Sign the monthly corporate credit card acquittal statement once satisfied that all expenditure is in order 31. Query any corporate credit card charges with the cardholder that are not in accordance with GPTQ s policies or appears inappropriate in nature 32. Forward the approved credit card acquittal statement to the credit card holder/finance team once the statement has been duly signed and all expenditure has been approved. Code: FIN-P-026 (05/15) Printed Copy is Uncontrolled Page 5 of 7

6 MONTHLY ACQUITTAL OF CARDHOLDER STATEMENTS Itemised corporate credit card statements will be distributed to corporate credit card holders on a monthly basis. Cardholders must reconcile and acquit their monthly statement, have it approved by their direct line manager and submit same to finance for processing by the 30 th of each month. The duly completed and approved monthly acquittal statement must be supported by all tax invoices/tax receipts in relation to all charges on the corporate credit card. On receipt of the statement, and as part of the acquittal process, the cardholder must: 1. Check each transaction for accuracy 2. Attach supporting tax invoices/tax receipts. N.B credit card vouchers do not constitute a tax invoice/tax receipt and will not be accepted as supporting documentation. 3. Highlight any transactions in dispute and advise Director of Operations/Finance Team whether the disputed transaction has been rectified with the supplier or whether the Director of Operations needs to lodge a dispute with the credit card provider. 4. Attach any approval documentation that may have been previously received for expenditure charged to the corporate credit card 5. Identify any expenditure that was not incurred whilst undertaking approved GPTQ business 6. For each transaction identify the node to which the transaction relates 7. For each transaction identify whether it is an education or administration expense 8. For each transaction that specifically relates to a registrar, the name of the registrar for which the expense was incurred. 9. For each transaction provide adequate detail to allow the finance team to accurately code the expenditure in the accounts of GPTQ. 10. Sign the completed acquittal statement certifying that all charges shown are correct and were incurred whilst undertaking GPTQ business. 11. Forward the signed acquittal statement to direct line report for approval 12. Ensure that the duly authorised acquittal statement is with Finance by 30 th of each month. Where a cardholder is intending to go on leave and a corporate credit card acquittal will be required whilst they are on leave, the cardholder must provide all necessary documentation to their line manager prior to going on leave. On receipt of the reconciled corporate card acquittal statement, the line manager will check all documents are attached, all expenditure is in accordance with GPTQ policies, sign the statement indicating their approval of the expenditure charged to the credit card, forward the approved acquittal statement back to the cardholder or directly to the finance team. Where the line manager identifies expenditure that is not in line with GPTQ policies the cardholder must be informed immediately and action taken to rectify the inappropriate use of the corporate credit card. The Code: FIN-P-026 (05/15) Printed Copy is Uncontrolled Page 6 of 7

7 cardholder may be required to reimburse GPTQ for any inappropriate expenditure charged to the corporate credit card. Where the line manager identifies misuse of the corporate credit cards, the Director of Operations must be advised immediately. Where the finance team identifies what appears to be inappropriate use of a corporate credit card when processing an approved corporate credit card acquittal statement, the initial query should be referred to the authorising officer to ascertain whether there are any special circumstances surrounding the corporate credit card charge. Director of Operations must be informed of any such queries referred back to the authorising officer and the outcome of such reference to the authorising officer. Corporate credit card holders who do not submit their monthly acquittal statements on time may have their corporate credit card suspended. Repeated failure to acquit monthly statements in accordance with this policy will result in the corporate credit card being withdrawn/cancelled. FAILURE TO COMPLY WITH THIS POLICY Failure to comply with this policy may result in: 1. Withdrawal or cancellation of corporate credit cards 2. Disciplinary action 3. Performance management including termination of employment 4. Criminal Proceedings Variations GPTQ reserves the right to vary, replace or terminate this Policy from time to time. Review history Review Date Content Page First issue All Code: FIN-P-026 (05/15) Printed Copy is Uncontrolled Page 7 of 7