Credit Card Policy For Small Business Template

Purpose the purpose of this policy is to communicate eligibility usage and payment of expenditure requirements for the corporate credit card. You should run this report at. Detailed receipts must be retained and attached to the credit card statements.

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As such when using the credit card the user should ensure that.

Credit card policy for small business template. I common for staff 4 credit card policy and cardholder agreement doc credit card policies and procedures. Before you extend credit to your customers you ll need to determine just how much you can afford. Will issue a corporate credit card to eligible employees for job related. This sample corporate credit card use agreement template is written for use in a situation in which a company provides a corporate card for employee use.

Best practices for a business credit card policy. Determine how much credit you can afford to extend. The agreement is styled to be favorable to the employer and holds the employee personally responsible for charges associated with misuse of the card. Confirm that the particular expense is allowed under this policy.

The corporate credit card policy is a document that explains what a corporate credit card can be used for who is eligible to receive a corporate credit card and the ongoing requirements that must be upheld when using a corporate credit card. Whether you have a large or small business it s important to have an internal credit card control policy that outlines guidelines for appropriate use your business has separate needs from other organizations so be sure to customize your corporate credit card policy accordingly. Keep the credit card number and physical card secure. The definition of personal usage in this case is an expense not related to the operation of the business.

Businesses may want to provide their employees with access to a company credit card to pay for approved business related expenses. Corporate credit card policy company pay summary the corporate card cannot be used for cash advances personal or non business related purchases or the purchase of alcohol all entities are tax exempt. Credit cards may be requested for prospective cardholders by written request credit card request form to the treasurer. When you re using the company credit card you should.

Use of company credit card policy. To create a corporate credit card policy you ll need to set a policy start date identify your card types determine who s eligible set spend limits establish expense reporting expectations name any consequences of a policy breach and define who s responsible for the policy. In short the usage of the card should be limited to business related activities. Run a cash flow statement to evaluate how much working capital you have to play with.

Mind the credit card limit and the transaction limit so you can plan business expenses properly. Here s a four step plan to creating a credit policy that works for you. The company should have specific consequences for any employee who uses the card for his or her own personal expenses.