What are Business Credit Cards?
Benefits of Corporate Credit Cards:
- The money spent in buying your office furniture, computer peripherals, stationery, etc. can be done smartly using these cards.
- Expenditure towards air tickets, business needs, corporate gifts, restaurant bills will fetch you reward points and great discounts.
- This card can be used for paying your utility bills
- Most of the service providers waive-off the joining and renewal charges.
Tracking Business Card Expenses:-
Business expenses as also the interest on your business credit card are tax deductible. When an audit is conducted, you must produce proper bills on the purchases that were made for business purposes. Here are a few pointers that will help you track your corporate card expenses.
- The foremost step in tracking these expenses begin with saving receipts.
- Enter the expenses in your book of accounts regularly.
- Make additional copies of important records and bills.
- Be prepared to face the tax season without getting stressed out.