The Corporate Card is intended to streamline and simplify the purchasing process for certain types of transactions. It is a tool that facilitates timely acquisition of materials and supplies, reduces transaction costs, and automates data flow for accounting purposes. The Corporate Card should never be used to avoid or bypass the current University policies and procedures. All purchases must be made in compliance with established University purchasing policies & procedures and FSM’s Card Policy and Procedures. These Policies and Procedures can be found at:
Feinberg School of Medicine Corporate Cardholder Guide
Northwestern University Corporate Cardholder Guide
Purchasing and Payment Policy and Procedures
Travel, Entertainment & Courtesy Policy
All individuals involved with the Corporate Card including Cardholders, Allocators, Reviewers, and Post Auditors are expected to understand and follow all NU/FSM policies and procedures. Intentional misuse or fraudulent use will result in personal liability and/or disciplinary action. The Corporate Card is not transferable and may not be used by anyone other than the Cardholder.
Obtaining a Corporate Card
Only current NU staff are allowed to obtain a Corporate Card (no faculty member, temporary employees, visiting post docs, work-study, contractors or NU affiliates).
- Review all policies and procedures listed above.
- Complete and submit the online Northwestern Corporate Card Application and Agreement Form.
- The application follows a workflow from departmental approval to FSM then to the Corporate Card Office.
- FSM will contact the submitter of the application if there are any questions.
- When card is received by the Corporate Card Office the cardholder will receive an email from them with the next mandatory online Corporate Card training.
- The Corporate Card will be distributed to the Cardholder following completion of the training session.
Note: FSM cards cannot be used for travel and entertainment (other than catering brought into the University, alcohol is unallowable). The Travel and Entertainment box on the application does not need to be checked. Checking this box will result in the application being sent back to you for revision.
The standard starting credit limits for FSM are $2,500 per transaction and $5,000 per month. If you require a higher limit please email the Financial Manager, Rachel Rufer, email@example.com, with a compelling reason as to the high limit request. Please keep in mind that the Corporate Card is not meant to replace using NUFinancials for placing orders.
Purchases with the Corporate Card
- Itemized receipts are required for all purchases.
- All purchases must be tax exempt.
- Purchases must be reconciled monthly via a My Wallet expense report. Any unreconciled transactions over 90 days will result in the card being suspended.
The Corporate Card cannot be used for the following types of transactions:
- Dining out at restaurants (The Card may be used to cater in for special events that are within NU policies and procedures and have been approved)
- Alcoholic Beverages
- Cellular Phones/Pages
- Club Memberships
- Purchases made on auction sites (e.g. Ebay, Ubid, etc.)
- Individual purchases of $5,000 or more including Capital Equipment
- Purchases to vendors that do not accept NU’s tax exempt status
- Cash advances
- Personal Purchases
*Please note: the above list in not a comprehensive list and FSM reserves the right to deny any purchase made to a questionable vendor.
My Wallet is the process used for accounting and reconciling charges made with the Corporate Card. Best practice is to reconcile charges weekly. Reconciliation is required monthly. Cards will be suspended if transactions are not reconciled within 90 days.
Monitor Corporate Card Activity
Access My Wallet via the NUPortal
- Log into the NUPortal.
- Select NUFinancials.
- Navigate to My Wallet: Navigator > Employee Self Service > Travel and Expenses > My Wallet
- Enter employee ID or name and click search; choose results.
- Select Finish.
NUFinancials training is available in myHR Learn
- Entering an Expense Report for My Wallet Transactions Exercise
- My Wallet Transactions Expense Report Training Guide
- My Wallet Webinar Slides Presentation