In order to keep your business and personal finances well organized and easier to manage, it’s essential to have a business credit card. You’ll also find that there are benefits to using business credit cards over debit cards, checks and cash based accounting systems. Plus, you’ll be able to get some rewards for your business spending if you are using a rewards card.
While some people, especially entrepreneurs who are just staring out, like to keep things simple by just using their personal credit card to manage their business expenses, over time this practice will greatly complicate the book keeping. Was the $20 charge at the office supply store for printer ink and paper for the office computer or for the kids’ back to school supplies?
While a business credit card means you’ll have an extra account, you’ll find that once you get in the habit of managing it, you’ll spend less time than you would if you were trying to sort out each expense on one bill. Additionally, you’ll be able to build a credit history for your business so that you can, when the need arises, get better terms on loans.
If you have employees or need to purchase items online or over the phone, a credit card is far more convenient than cash or a check. You’ll also enjoy more privileges and fraud protection than you would with a debit card. For employees who are responsible for making purchases or who travel, give them one of the business credit cards so that they can use it rather than having to pay out of pocket and wait to be reimbursed. Not only will this simplify accounting, your employees will appreciate the fact that they don’t have to pay for business expenses out of their own pocket and wait weeks for the money to be returned.
Like regular credit cards, business ones also offer reward programs so that you can earn cash back, airline miles or points to spend on employee gifts or other business expenses.
To apply for funding for your small business, use the form on the right to begin the application process.
For more information, go to Business Credit Card at http://www.unsecuredbizloan.com/business-credit-card