HR Tips & Answers

Credit Cards – Take control or risk a lot.

So how many Credit Cards do you have in your business?

We do know of one organisation that had hundreds, yep, I kid you not, “hundreds”.

They had lost control of who had one and the dollar limits. So, they stopped them all, got them all back and were shocked at how much they were saving. Why was this so?

Their Organisational Policy was changed and the purchase of product /services etc had to go through one central accounts department and be counter signed by a manager.

So how does it relate to your business?

What does your Company Policy on Credit Cards say?

  • When did you last review it and get the staff who have a card to sign off on the new or revised Policy?
  • How many Credit Cards does your company have?
  • Who is using the Credit Cards? If someone has the PIN they can use it?
  • Do you need to review the dollar limits?
  • Do you need to cancel the cards that are no longer required?
  • What can be purchased by the person to whom it is assigned?
  • Who checks the statements? And who checks this?
  • If discrepancies start to appear, then you can ask questions, and you have the proof and remember to write your notes in your Diary.

If you need help drafting or reviewing a Credit Card Policy give us a call, we are here to help 02 60 09 1000 

Cheers,

The WorkBetter Team

Published: Monday, May 17th, 2021
Share:

Apply Now

[apptivo_job_applicantform name="jaform"]