Definition
6.1 Budget Authority:
The person who is responsible for funds in a particular accounting
unit. The Budget Authority designates an individual as a Cardholder
and delegates authority to a Cardholder to make charges.
6.2 Cardholder:
The person who has been issued a credit card and is authorized to
make purchases in accordance with these procedures.
6.3 Default Account:
Accounting unit, account, sub-account, and activity (if required)
assigned to an individual Cardholder's Purchasing Card. Only one
default account can be assigned to any one Purchasing Card.
6.4 Electronic PaymentNet Statement:
Statement available on PaymentNet Web site of all charges posted
to a Cardholder's account during previous billing cycle.
6.5 Hierarchy:
The PaymentNetTM system for assigning levels of access/security
to information: review of charges, approval of charges, and reporting
capabilities.
6.6 JP Morgan Chase, Inc.:
Banking institution with which the College has contracted to supply
the VISA card and Web-based payment system.
6.7 PaymentNetTM:
Web-based software used by Cardholders to review, approve, dispute,
and reallocate account charges.
6.8 Purchasing Card:
A VISA credit card issued to a person for the purpose of making
authorized purchases on the College's behalf.
6.9 Purchasing Card Administrator:
The person at Mount Holyoke College who is responsible for program
details, including Cardholder inquiries.
6.10 Reconciler:
Person(s) assigned to reconcile a Cardholder's charges through the
month. A Cardholder may be her/his own Reconciler and a Reconciler
may manage more than one Cardholder account. A Reconciler may or
may not be a Cardholder.
6.11 Supplier:
Company from which a Cardholder is purchasing goods under the provisions
of these procedures.
6.12 Transaction/Charge Limit:
Transaction and dollar amount limit assigned to the Cardholder for
each total charge made with the Purchasing Card.
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