Credit Cards Can Make Your Business Flying
From: businesslink.gov.uk
Convenience - cards are quicker and cheaper to use than the company chequebook. They're useful for everyday expenses and can be used over the phone and Internet.
Credit - if you accept credit cards to cover business expenses, you don't have to settle the bill immediately - you can benefit from an interest-free period of up to 40 days, dependent on which card supplier you use.
Cards are globally recognised - using cards for foreign-travel purchases may give you better exchange rates as card issuers have more buying muscle and reduces the need to change cash before travelling.
Ability to monitor expenditure - you can specify which employees receive cards and set different credit limits for each card.
Fast access to cash - you or card-holding employees can withdraw cash from cash machines. However, credit and charge card issuers will levy a commission each time. And, with credit cards, you will pay interest from the day the cash is withdrawn regardless of when you settle your bill.
Reduction in administration - with a company credit or charge card, you pay one bill each month, no matter how many purchases you make. Receiving monthly statements helps with your accounting and administrative procedures. As purchases are specified you can distinguish business from personal expenses. Your provider may also be able to supply a report of your annual expenditure and a breakdown of the VAT charged on purchases - far more convenient than ploughing through piles of receipts.
Convenience - cards are quicker and cheaper to use than the company chequebook. They're useful for everyday expenses and can be used over the phone and Internet.
Credit - if you accept credit cards to cover business expenses, you don't have to settle the bill immediately - you can benefit from an interest-free period of up to 40 days, dependent on which card supplier you use.
Cards are globally recognised - using cards for foreign-travel purchases may give you better exchange rates as card issuers have more buying muscle and reduces the need to change cash before travelling.
Ability to monitor expenditure - you can specify which employees receive cards and set different credit limits for each card.
Fast access to cash - you or card-holding employees can withdraw cash from cash machines. However, credit and charge card issuers will levy a commission each time. And, with credit cards, you will pay interest from the day the cash is withdrawn regardless of when you settle your bill.
Reduction in administration - with a company credit or charge card, you pay one bill each month, no matter how many purchases you make. Receiving monthly statements helps with your accounting and administrative procedures. As purchases are specified you can distinguish business from personal expenses. Your provider may also be able to supply a report of your annual expenditure and a breakdown of the VAT charged on purchases - far more convenient than ploughing through piles of receipts.
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