Business credit cards can save a lot of time in managing your business. Here are some ways in which having a business credit card can help you.
Many businesses spend a lot of time on writing cheques to pay suppliers. Using a credit card to pay for business expenses will reduce this time considerably. It also means that business owners do not have to carry cheque books around and can keep less cash in the office. This is a good security feature.
Streamlining Accounts
The accounts departments of many businesses also spend a lot of time rationalising and paying employees’ expenses claims. Since a business credit card account allows business owners to issue multiple account cards to employees, these can be used to cut down on that time. Some of the tasks that employees can fund with their business credit cards include:
corporate hospitality (entertaining business clients)
getting foreign exchange when travelling on business
paying for hotels, car hire and meals
buying products or services for the business
Employees no longer have to worry about paying for expenses up front and then waiting for weeks before being paid back....
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