Credit Cards

vwindham

We are experiencing a big problem with credit card usage. The problem is not the expenses, it is the reimbursement. We are having trouble getting the employees to give all their receipts (both personal cards and business accounts). We are trying to find a legal way to recoup the money for expenses that are not supported by receipts. For personal cards, can we simply refuse to reimburse expenses if there is not a receipt submittted?? What can we do with the expenses on a company card since we obviousl;y HAVE to pay for these expenses no matter what!
We also have people that wait MONTHS to turn in expense reports requesting reimbursements, can we put a time limit on this?
Any ideas??? Thank you for your time!

ritaanz

When one of our employees uses their personal credit card, they are required to submit the receipt to get approval for payment. No receip, no reimbursement. In our company this is done on a monthly basis. Requests for reimbursement will not be considered if more than a month has gone by.

As to company credit cards, again, this is done on a monthly basis. If the employee reguarly fails to include receipts, we take away the card and have them use their $$$ or their own card.

In the 5 years I have been here, just 1 employee had his card rescinded, and he couldn't understand why the company made a federal case over "little pieces of paper".

Come to find out, it was a smart move on the company's part. It was discovered at a later date, that the non-receipt items were personal and should not have been charged to the company.

ScorpioHR

I had the same issue, particularly with our Managers-As for using their personal cards, that was stopped completely. They have company cards and it is their responsibility and part of their job to make sure I have a complete breakdown of every expense on their cards for the same dates as the credit card statement, if a receipt is missing from their expense statements and it was a credit card charge, they hand over the card until I get a receipt. This may sound extreme, but, after one audit by our accountants where they found "missing receipt" over and over again on the reports, management took a hard line. It works for me, takes me moments to verify their charges now! And because they do not want to hand over their cards, it is amazing how conscientious they have become in keeping track of their receipts! x:7

Gillian3

Yes, yes and yes. Do what the others have suggested.

deniseE

We have an account w/ AMEX....the ee is actually a credit holder, via our corp. account. the statements go to the ee and the card is in the name of the ee. To receive reimbursement, the ee must immediately submit the receipts...anything not covered or over is the ee's problem...and since the card is in their name...AMEX hounds the ee not us.

Overall, this works pretty well. The only issue we had (which is since resolved) was that it took so long to process reimbursements that ee's were getting collection calls and late notices on the AMEX bill. Many of our ee's that travel cannot afford to front the $$$ and wait for the reimbursement.