Originally Posted by
VivoPerLei
From a corporate perspective, why are corporate cards a must? Our company recently came out with a dictate that every single credit card charge has to go a corporate card (paid by the employee). If you charge your hotel stay to your personal card, the company says you won't be reimbursed. What difference does it make if I'm liable for the charge either way?
I could write a novel on T&E compliance and all the fun violations I've found over the years on both the corporate card and with EEs personal credit cards. So much fun that I had required that the boarding passes be submitted to get reimbursed at one point. I wasn't a fan fave but the program was compliant with audit and external regulatory agencies (NASD/SEC).
The benefit of a corporate card rather than a personal card for organizations is that it has all (mostly all there's always that one guy outside the program) of the travel data included to be able to negotiate with vendors, the data can be fed into the T&E systems and is helpful with VAT or other tax reclaims. I would use the reports to see our top spend categories and look to reconcile to our GL. These are just a few examples.