Procurement Card Glossary of Some Commonly Used Terms
Revised: July 27, 2007
Approving Official: The Approving Official is the individual authorized by their Division to review and approve Procurement Card transactions. Approvers are responsible for specific University accounts including all fiduciary responsibilities for the account(s) and all expenditures charged to them.
Billing Cycle: The University Procurement Card billing cycle date is the 26th of the previous month through the 25th of the current month. The cycle end dates can vary due to weekends and holidays.
Cardholder: A cardholder is an individual who has been delegated purchasing authority to support campus operations in accordance with University Procurement Card policies and procedures and whose name the card is issued. He/She is the only authorized user of the card.
Cardholder Packet: The monthly packet that includes the Approval of Procurement Card Transactions form, Expense Log Report, and all receipts and supporting documentation for the billing cycle.
Deadline Date: The last day reconciliations and approvals can be made for the billing cycle. The deadline date is the 10th of each month.
Default Account Number: The primary account charged for a cardholder’s transactions.
Dispute: An action taken to question the validity of a charge or obtain a duplicate receipt. A dispute can be processed in SAM™ within 60 days from the transaction’s post date.
MCC (Merchant Category Code): The general code each merchant is given by credit card companies to determine the types of goods and/or services they provide.
Merchant: Individuals and companies who provide products and services.
Monthly Transaction Limit: The dollar amount assigned to each Procurement Card identifying the monthly spending limit for each billing cycle.
New Procurement Cardholder Training: Required training for all Cardholders and recommended for everyone involved with the Procurement Card program. This training covers Procurement Card guidelines, navigation within SAM™ and the online reconciliation process.
SAM™: Strategic Account Management™ (SAM™) is the online Procurement Card system of GE Capital Finance used by cardholders. The website address is: http://gesamservice.corpcard.com.
Post Date: The date a transaction is uploaded into SAM™. The Post Date determines the billing cycle for the transaction.
Procurement Card: A MasterCard credit card issued by the bank with the cardholder name embossed on the face. This card can be used any place a MasterCard is accepted to purchase authorized goods and supplies for Cal State University Fullerton in accordance with University Procurement Card policies.
Purchase: Allowable goods or services procured through the use of the Procurement Card.
Single Transaction Limit: The dollar amount assigned to each Procurement Card identifying the single transaction limit.
Split Transactions: A feature of SAM™ that allows you to charge more than one account by either dollar amount or percentage.
Transaction Date: The date the purchase was made.
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