Accounting Tip: Use a Business Credit Card for Purchases

by Craig Anthony

0 min read

Business credit cards can be critical for businesses that need a flexible and reliable source of credit to meet their short-term financing needs. However, using a business credit card for business purchases can help a business in many other ways:

  • Separate business and personal finances: Keeping business and personal finances separate can simplify expense record keeping and eliminate potential problems when filing taxes.

  • Expense control: Business credit cards have built in tracking and control mechanisms for employee spending. Businesses can set individual spending limits and track spending in real time through their online account.

  • Cash flow management: Using a credit card’s billing cycle to float expenses can keep more money working in the business.

  • Streamline expense accounting: Business credit card purchases create multiple records automatically through transaction reports and online statements which can be uploaded to a business accounting software program such as QuickBooks.

References & Resources

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