There are several ways that you can make a purchase:
» Petty cash
» Purchasing card
» Request for Payment
» Purchase orders
When to Use the Different Methods of Purchasing
The following table shows when to use the different methods for acquiring goods and services. These are the upper limits approved by the Institution that a department or administrative unit can not exceed. A department may set actual transaction limits or administrative unit may be lower than the limit stated here. Consult your department to find out your specific limits. Explanations of each category follows the table.
Less than $100.00
The Institution gives you three ways to procure items totaling $100.00 or less:
Note: You may find yourself using a particular supplier many times during the course of the year for small dollar purchases. In this case, a "Blanket Purchase Order" may be the best means of conducting business. If you are in this situation, contact the Procurement Department to discuss your options.
$101 to $500
Many suppliers allow you to charge your purchase to an individual or master account. In these situations, the suppliers will provide you with an invoice. A Purchase Order is not required. You may use a Request For Payment or Purchasing Card as above.
$501 to $2500
A Purchase Order or Purchasing Card is needed for purchases greater than $500.00 but less than $2500 that are not categorically exempt (see above).
$2501 and Over
A Purchase Order is required for purchases that are not categorically exempt (see above).