Liz Ryan posted an exceptionally good poll about business expenses and employee use of credit cards.
Issues were raises from financial inequality between employees and whether they owned a credit card, and if they did, how much credit was available.
I, as a CFO, has found company credit cards a disaster, and as I explained I have encountered charges made in error, fraud, and slow submittal of expense reports among the issues.
What I have done to ameliorate not have a company credit card is either an advance, 1-day turnaround on expense reports or charging the item myself and reimbursing myself.
This would work with a small or large firm, just substitute “myself” for the manager.
I am sure people will disagree with my workaround, but here is the question:
Most people have difficulty with budgeting their lives. Hence the major credit card debt in America today. Since the company is asking the employee to use the credit for the companies benefit, who should the check to made out to?
The Credit Card Company or the Employee?
