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Invoices Versus the Procurement Card

Using the procurement card helps in reducing unnecessary paperwork. The Procurement Office and Accounts Payable work together to reduce the number of invoices submitted for payment. For procurement card purchases, the vendor is paid within three days rather than the 15 - 20 days it takes to pay an invoice and the costly steps of processing invoices through Annapolis are eliminated!

The procurement card is the most efficient way to make small dollar purchases. As a public institution, Towson must adhere to the policies established by the Maryland Board of Public Works (BPW). BPW Advisory No. 1998-1, Corporate Purchasing Card (CPC) - Mandatory Use. This requires use of the Corporate Procurement Card for delegated purchases. The only allowable exception is when the supplier does not accept the corporate procurement card. Because the University System of Maryland has a delegated threshold of $5,000, the campus should use the procurement card for purchases up to this amount. The BPA Advisory can be viewed in its entirety at http://www.bpw.state.md.us/procurement/advisories.asp

If purchasing goods from a vendor who accepts the procurement card, please use your procurement card to make the purchase. If you do not have a procurement card, ask a cardholder in your department to make the purchase on your behalf. To find out more about the procurement card program, contact the Procurement Department at 4-3492 or visit the website at http://wwwnew.towson.edu/adminfinance/fiscalplanning/procurement/ProcurementCard.htm.

Should you have any questions about invoices, please contact the Financial Services Help Line at finservehelp@towson.edu or extension 4-5599.




If you need assistance contact the Financial Services Help Line at 410-704-5599

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