What is purchasing card in SAP (LOD-TEM - Travel OnDemand)?

SAP Term: purchasing card

• Component: LOD-TEM

• Component Name: Travel OnDemand

• Description: Special type of corporate credit card issued to an employee by the company to buy certain goods and services. Unlike traditional credit cards, P-Cards are always paid by company.

Smart SAP Assistant

• Key Concepts: 
  A purchasing card (also known as a P-Card) is a payment card issued by a financial institution to an individual or business for the purpose of making purchases. It is used to purchase goods and services from vendors who accept the card. In the context of SAP’s LOD-TEM Travel OnDemand, a purchasing card is used to pay for travel expenses such as airfare, hotel stays, and car rentals. 
  
  How to use it: 
  In order to use a purchasing card with LOD-TEM Travel OnDemand, the user must first register the card with the system. This can be done by entering the card information into the system and then verifying it with the issuing financial institution. Once registered, the user can then use the card to pay for travel expenses. 
  
  Tips & Tricks: 
  When using a purchasing card with LOD-TEM Travel OnDemand, it is important to keep track of all transactions made with the card. This will help ensure that all expenses are accounted for and that any discrepancies can be quickly identified and resolved. Additionally, it is important to ensure that all purchases made with the card are within the company’s travel policy. 
  
  Related Information: 
  For more information on using a purchasing card with LOD-TEM Travel OnDemand, please refer to SAP’s documentation on the topic. Additionally, you may find it helpful to consult with your company’s finance department for further guidance on using a purchasing card for travel expenses.