Purchase Card Program

The St. Olaf College purchase card program is the most cost-effective method of paying for large volume purchases and travel expenses that do not require prior authorization, bids, contracts etc.

The card may be used at any merchant that accepts VISA throughout the U.S. and internationally. However, do not use your Wells Fargo VISA on campus (e.g. Bookstore), because the College will be assessed fees for processing the credit card.

Unlike personal credit cards, the Wells Fargo Bank VISA Purchase Card Program is handled as a corporate liability. Your personal credit history has not been taken into account when a card has been issued in your name. While the card may be in your name, it is the property of St. Olaf College and has no bearing on your personal credit.

The Business Office is responsible for paying the Program invoice each month.

Quick Reference Guide – for Cardholders, Reconcilers and Approvers

Cardholder Responsibilities

  • You are responsible for the transactions identified on your statement. You must be able to produce original itemized receipts and prove that the transactions are expenditures for college related purposes. You will be required to reimburse the college with personal funds for any activity you are unable to properly substantiate as a business expense.
  • Making sure that sales tax is not charged on exempt purchases.
  • Reviewing your monthly statement online, verifying that all transactions are valid and coded correctly, entering descriptions, and hitting “review complete” by the grace period end date noted online (typically 5 calendar days from when the original email stating that statement is ready for review was received).
  • Obtaining original itemized receipts or other required documentation for every transaction and attaching them to a copy of your monthly statement.
  • Offering a copy of the monthly statement with attached required documentation to approver and verifying that approver completes online review.
  • Submitting monthly statement with attached required documentation to the Accounts Payable Office by the 8th working day of the following month.

Approver Responsibilities

  • Approving the monthly statement online after reviewing descriptions and reasonableness of purchases by hitting “approval complete” button by the due date specified online (usually 4 calendar days from when the cardholder was required to complete their review).
  • (optional) Requesting a copy of the monthly statement with attached required documentation if the approver would like to see additional backup regarding the purchases made.

If a charge should not be approved, complete online approval and contact the Accounts Payable Office for possible disciplinary action, including restitution of the charge and/or deactivation of card.

Purchase Card Information

Contacts

  • Accounts Payable Office – Tomson Hall 131