Helpful Suggestions to Using the P-Card for End of Fiscal Year Purchasing

Government fiscal year end always represents a busy time for Purchase Card programs, where end of year purchasing typically results in a large seasonal spike in P-Card usage. Purchase Cards are a great electronic financial payment tool to help acquire goods and services from your contractors during the end of year cycle. With 2015 Fiscal Year end fast approaching, the below are guidelines that APCs and Cardholders should consider.

• The micro-purchase threshold is currently $3,000, subject to increase to $3,500 on October 1, 2015. Make sure to work with your Citi^® representative to make any transaction limit adjustments to the new threshold limit to prevent declines.
• APCs and Cardholders should check their card accounts in advance to ensure ample credit is available for purchasing. Work with your Citi representative if temporary limit increases will be needed. This will save you time and headaches down the road.
• Many contractors accept Purchasing Cards well above the $3,000 micro-purchase threshold and many Federal agencies today use their Purchasing Card for transactions much higher than the $3,000 micro-purchase card limit. Many contractors are eager to accept a card because it makes their payment process much easier. Familiarize yourself with your agency’s P-Card policy to determine your ability to use the card for a broader range of contracts.
• Citi can help you identify suppliers that accept payment via Purchase Card. Work with your account manager or CAS representative to help identify card accepting suppliers you would like to pay with your Purchase Card.