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Yahoo Answers! Business Credit This is a RSS feed for Topics from Yahoo Answers! That pertain to establishing Business Credit general business credit questions and answers. Feel free to discuss this in the Business credit discussion Forum. MEMBERS WITH THE DESIGNATION Powered by Yahoo! Answers under their names ARE BOOTS FROM YAHOO ANSWER...! NEW THREADS MUST BE STARTED ON REGULAR FORUMS, MEMBERS ARE HOWEVER ABLE TO ANSWER OR PARTICIPATE WITH CURRENT THREADS...

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Old 10-17-2007, 02:22 PM   #1 (permalink)
Denixis
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Is a Expense Report Mandatory in a small business when they use Company Credit Card?

I work for a small company and about 10 employee have the company card to use while they travel for business. Im an Administrative Assistant and i have sent out several emails requesting their EXPENSE REPORT.... I want to send out an email again for those who dont turn it in on time and with out an expense report. can you provide me how or what to put on the email. and is it mandatory that they turn it in,,, and with a procedure or any sources on Expense Reports.. Thanks in Advance...
 
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Old 10-17-2007, 02:22 PM   #2 (permalink)
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Expense reports should be required by employees who use a company credit card for the following reasons:

1. If the company is audited by its bank or IRS, the expense reports will be used along with receipts to verify the expenses.

2. With out a report detailing the travel, there will be no record of what was the purpose of the trip. Need to verify reason 1.

3. failure to complete on turn in timely expense reports will result in the loose of the credit card and the employee will have to use personal cards for travel. An expense rep rot will be required for the employee to be reimbursed. Most employees hate using personal cards for business travel. They hate even more when they have to wait up to 30 days for reimbursement.

4. Explain No. 3 in no uncertain terms to employees who do not file expanse reports, what the alternative will be.

5. employees may be using company credit cards for personal use or for things that are not approved by the company. Such as "play time" while away from the family.
 
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Old 10-17-2007, 02:23 PM   #3 (permalink)
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Absolutely, but things to consider:
1. Are you the appropriate person to be requesting this info?
2. What particular constraints were placed on their use of credit in their contracts?
3. What company (policy) recourse do you have as far as discipline of employees who do not comply?
4. (always an important question to ask when considering disciplinary action) How important to the company is the person in question.

Email may not be the best way to make an impression on these folks and you may not be the best one to get their attention. You may want to address this issue with someone higher up in your organization.

As far as the question "Is it mandatory?" - It depends entirely on the rules and regs of the company for which you work.

Hope this helps...
 
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