The business card and company card are modern solutions for managing business expenses. Adapted to the varied needs of employees, they offer simplified management while providing better control over travel, meal and other business expenses. For accounting teams, however, their use raises the need for rigorous bank reconciliation to ensure compliance and easy integration of these expenses into the accounts. This article sets out the key steps for optimising the use of company cards, from controlling expenses to validating them in the accounts.
1. Business card and company card : definition
Business cards and company cards are payment cards for business expenses. The two terms are often used interchangeably, but the business card is sometimes intended for executives and employees who travel frequently, while the corporate card may have a broader scope, encompassing administrative and operational departments. These cards make it easier to spend money on business activities, while offering companies better control and monitoring of expenditure, as they can restrict their use to specific categories of expense (hotels, restaurants, travel).
Key benefits : The Business Card and Corporate Card allow you to centralise payments, gain complete visibility of transactions and reduce the administrative burden associated with reimbursements.
2. Define a policy for the use of business cards
Implementing a card use policy is essential for controlling costs and ensuring that cards are used correctly. This policy should define the criteria for allocating cards, spending limits and the types of expenses authorised. For example, some employees, depending on their role, may require higher limits to cover frequent travel, while others will have more restricted use.
Tip : Drawing up a charter for the use of cards clarifies users’ responsibilities and ensures compliance with accounting procedures.
3. Automate receipt collection
Expense management software automates the collection of receipts associated with business card transactions. Users can simply photograph their receipts and import them directly into the system, where each receipt will be associated with a specific transaction. This reduces the risk of errors and facilitates verification by the accounting team.
Advantage : Automation makes bank reconciliation smoother, guaranteeing centralised documentation of expenditure, ready for integration into the accounts.
4. Expenditure tracking and bank reconciliation
Checking transactions to ensure that bank reconciliations are correct is a crucial part of corporate card management. Bank reconciliation consists of validating that each expense recorded on the card corresponds to a transaction accompanied by a receipt. Expense claim management software can automate this process by matching transactions to receipts almost instantaneously.
Recommended solution : Software that integrates bank reconciliation enables real-time control of expenses, reducing the risk of errors and facilitating accounting integration.
5. Analysis and reporting
With enterprise card management tools, businesses can visualise spend data in real time through customised dashboards and reports. This functionality helps to understand key spend categories, identify recurring costs and improve budget planning.
Impact : Analysis and reporting help companies to control costs, adjust spending policies and boost financial efficiency.
The Business Card and Corporate Card simplify the management of business expenses and strengthen accounting control. By applying clear policies, automating the collection of receipts and ensuring efficient bank reconciliation, companies gain in efficiency while complying with accounting standards. Integrated management of company cards makes for smoother accounting, which is essential in a constantly changing environment.
