A credit card policy is part of a company`s accounting policies. It clarifies the conditions for using a company card issued on behalf of employees. These policies also aim to protect the company from inappropriate use and to ensure that the impact is clear. 1. I understand that this card is the property of the company and I will make financial commitments on behalf of the company when I use this card. I agree that the use of this card will be limited to commercial purposes approved by the Company. I agree that this Card may not be used for personal, unauthorized or illegal expenses, and that such misuse will result in the termination of this Card and may result in disciplinary action up to the end of my employment relationship. The purpose of this Company Credit Card Policy is to (a) describe eligibility and authorization procedures, (b) specify the terms of the Company`s credit card, (c) define limitations and exceptions, and (d) explain card violations and the process of disciplinary action. 9. The cardholder must surrender the card upon termination of employment (i.e., retirement or voluntary or involuntary termination).
No other use of the card or account is permitted at this time. 6. Cardholders must comply with internal control procedures to protect district assets. This includes keeping receipts, reconciling monthly card bills, and following appropriate security measures. This provision is more effective for companies that apply an advanced disciplinary system that takes into account immediate action in the event of serious violations, but does not cancel the employee`s employment at will. Some companies may want to impose harsher penalties for non-compliance. An employment lawyer can advise you on options, such as . B prosecute the employee for unauthorized use of the card in a civil and/or criminal manner. An official document that sets out the terms of use of a credit card issued by the company.
The credit card [company name] is only available to authorized personnel, namely the Executive Director, the Chief Financial Officer and the Office Manager. The General Manager and CFO reserve the right to disclose the Company`s credit card to all employees [company name], depending on the circumstances, required documents and expenses related to the Company. 2. The card is reserved for business purchases. The card may not be used for personal or other purposes unrelated to the district. This example of a business credit card usage model was written for use in a situation where a company provides a company card to its employees. The agreement is designed to be employer-friendly and makes the employee personally liable for any fees related to the misuse of the card. Make a free request to a Priori Legal employment lawyer to customize this agreement and other working documents relevant to your business. Businesses use corporate credit cards to manage small to medium-sized expenses related to business maintenance and development.
Due to the financial impact and risks associated with corporate credit cards, [company name] created this policy to clearly define protocols, restrictions, and terms of use. When our company gives you a credit card, you must sign and comply with a credit card agreement. This recognizes that the credit card belongs to our company and that we may process and investigate charges at our sole discretion. It also refers to your responsibilities and the consequences of misuse. [Company Name] acknowledges that each case is different and that an employee may charge additional fees depending on the service, frequency of use, and case-specific circumstances. Therefore, employees have the right to apply for an exemption, but must explain the reasons for the additional purchase. Any purchase that exceeds the limit must first be approved by the Financial Manager and/or the General Manager. 8.
A lost or stolen card must be reported immediately by calling First Bankcard Customer Service at (1-800-477-4941) and the business office at (308) 385-5900 ext. 144. There is also a transaction limit of [$150] for most of our credit cards. Exceptionally, talk to [your manager/finance/department head/etc.] 4. You are the only person authorized to use the Card and are responsible for all charges charged to the Card. Once it has been reviewed by a lawyer, you should ask each employee who has received a common card to review the policy and sign the confirmation form. Once the agreement has been signed by all required parties, be sure to keep a copy of each signed contract on file in case you need to apply the policy. This policy applies to all employees who are authorized to use a company card. It also applies to employees who have the right to authorize the use of a company card for their team members.
To get a head start, use our corporate credit card policy template to define your policies. To further refine the policy to your own specifications, read this guide. Once an employee`s credit card application has been approved by the CFO and/or General Manager, he/she must sign and comply with a credit card agreement for employees. In this Agreement, the Employee signs that he/she acknowledges that the Company`s credit card belongs to [Company Name] and that management has the right to investigate charges with or without cause. The credit card agreement is issued and submitted by the Finance Department and the Human Resources Department. As a rule, our company takes a credit card in your name. You can use it for business expenses and our company will pay the card bills. Before you start creating your credit card policies and procedures for your business, you need to know which credit cards you want to use, the requirements of your credit card provider, and the requirements of your own business.
Once you have all the necessary information, start describing the most important factors. Most credit card policies of company employees include the following: You cannot use the company`s credit card for unauthorized or personal expenses. Never withdraw money with the company`s credit card. You are also not allowed to purchase large amounts of alcohol or drugs, weapons, pornography, or fees for other adult entertainment. This clause is illustrative and, depending on the circumstances, other reporting options may be inserted. For example, notifications and cards can be returned to the CFO. A lawyer can evaluate the options and provide legal assistance. Enter the name and/or title and the department (e.B manager, accounts receivable) to which the credit card must be returned in case of revocation by the company. If you use the company`s credit card, you should: 7.
Cardholders are responsible for reconciling their monthly card billing and resolving any discrepancies by contacting the provider first, then the bank and finally the branch. You can use a company card to pay only for work-related expenses. This includes: 1. The card is provided to district employees based on their needs for business-related goods and services. A card can be revoked at any time due to a change in assignment or location. The card is neither an authorization nor does it reflect the title or position. We expect you to comply with the company`s credit card policy and employee agreement, and we may take action if you violate it. For example: Employee name (print) Credit card number (exactly as shown on the card) 5. Honest and inconsequential misuse of the card (you make an honest mistake), which is brought to the attention of the commercial manager and promptly corrected, will not be considered a misappropriation of district funds, but may result in a temporary suspension of the use of the card. Some companies allow certain employees to use the company`s credit card for personal transactions. A lawyer can help you consider policies, processes and procedures to govern the use and security of the card and the reimbursement of fees. To ensure that all of your bases are covered, your company`s credit card policy should include a statement of purpose, scope, a section with terms of use, a section with limitations and exceptions, and define the disciplinary process.
Sometimes employees who do not have a company credit card have to pay for large business-related expenses (e.B. Airline tickets for business travel). In these cases, please seek your supervisor`s approval and ask [finance or office manager] to pay on your behalf with the company`s credit card. Alternatively, you can pay the fees yourself and evaluate them via our [expense software by sending the receipt]. If it meets our requirements, the fee will be refunded until the end of the next payment period. Each employee must complete an employee credit card application [Number of days] before needing access to credit card funds. In the application, an employee must indicate the reasons for applying for the card and sign that they understand the risks associated with taking responsibility for the card. The finance department is responsible for issuing the employee`s credit card application form, but only the CFO and/or Executive Director have the authority to approve the application. .