business credit card

thetourist

i often need to make small payments (under €100) both online and to shops and businesses as part of my business. Have never used a business credit card . Am wondering how it works. What would be ideal for me is to have a credit card on my business account and use it for all these small payments. It would be handy so that i dont have to carrry a chequebook around and also i would be able to purchase stock online easier. Is this a standard practice. Is there anything i need to watch out for, esp from an accounting point of view. (apart from the a.p.r. that is :rolleyes: )

edit: actually a debit card that could be used online would even be better - dont know if one exists - lazer doesnt usually work online except for some irish websites.

smcgiff

http://www.americanexpress.com/ireland/small_business_card/american_express_small_business_card.shtml

Google's your friend!;)

From an accounting point of view there is nothing different than, say, a bank account. You get a statement online or paper.

robbie checker

thetourist wrote:

i often need to make small payments (under €100) both online and to shops and businesses as part of my business. Have never used a business credit card . Am wondering how it works. What would be ideal for me is to have a credit card on my business account and use it for all these small payments. It would be handy so that i dont have to carrry a chequebook around and also i would be able to purchase stock online easier. Is this a standard practice. Is there anything i need to watch out for, esp from an accounting point of view. (apart from the a.p.r. that is :rolleyes: )

edit: actually a debit card that could be used online would even be better - dont know if one exists - lazer doesnt usually work online except for some irish websites.

business credit card is fine, you still need to keep receipts though just in case revenue request them in an audit - your accountant will be happy too as it is easier to account for small payments.

vir7ual

I have a business credit card for my own business coming out of the business account. The credit card statement is your actual account done as it contains all transactions for stock bought. Also you can tell the bank to clear the balance (100%) at the last day of every month, therefore you dont pay interest on outstanding balances. Dead handy way of paying stuff and not costing you much.

As stated accountants will love you too, as i said the credit card statements are your accounts done for you.

You still get caught to pay the annual fee for credit cards but dont pay anything on balances overdue once you pay off every month.