P - Cards
Biggest pitfall in the P-cards is control or 3 way match. We use P-Cards for non-essential procurement and with small value. Finance has issued P-Cards to Users and well as Procurement staff but users when using P-cards don't need to raise a requisition. P-Card statement is approved by the Department Head. Whereas, Procurement using P-cards requires that User raises a requisition and seek approval. Procurement raises a dumpy PO issued to self (company) and GR is made against that PO and material issued out. This way, we are able to maintain control on the spend.