Timeline for Accidentally spent much more than the food allowance on a business trip
Current License: CC BY-SA 4.0
13 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Oct 10, 2022 at 9:00 | comment | added | Gregory Currie | @MattTimmermans Cheers. Interesting reading. | |
| Oct 10, 2022 at 7:15 | comment | added | gnasher729 | @Accumulation, both company and employee might be “ultimately responsible”. If the company goes bankrupt at the wrong time, the employee might be forced to pay. | |
| Oct 10, 2022 at 0:28 | comment | added | Matt Timmermans | In the industry, it seems to be known as an "individual liability corporate card", which would be the googlable term, and contrasts with with a "corporate liability card" | |
| Oct 9, 2022 at 21:47 | comment | added | Acccumulation | I think with a corporate credit card, the corporation is the ultimate creditor for the card. It's a bit like co-signing a loan: if you don't pay, they get sent the bill. The could just pay the bill directly, but for accounting reasons they send you the money and have you pay the bill. Charging things that aren't legitimate expense definitely is a no-no, but if OP acts fast enough on acknowledging the error and repaying it, they probably won't get in (too much) trouble. | |
| Oct 9, 2022 at 18:26 | comment | added | Matt Timmermans | No, the company card is not linked to my bank account. I actually have to pay the bill. | |
| Oct 9, 2022 at 18:18 | comment | added | Gregory Currie | Maybe when you "my bank account", you mean the account linked to the card? | |
| Oct 9, 2022 at 18:14 | comment | added | Gregory Currie | That doesn't really make sense. The company card is linked to your personal bank account? What is the purpose of that? | |
| Oct 9, 2022 at 16:57 | comment | added | Steve | @MattTimmermans, interesting national difference. Here in the UK, when I've had a "corporate credit card", it's the employer who gets and pays the bill. I haven't heard of the arrangement you describe - perhaps financial regulations differ. | |
| Oct 9, 2022 at 16:31 | comment | added | Matt Timmermans | It's as I a say. I have a Mastercard with my company's name on it, that I'm required to use for travel-related purchases. I get the bill. When I file an expense report, I get reimbursed by direct deposit into my bank account in advance of that bill actually coming due. It was the same at the last company I worked at, and my understanding is that this sort of arrangement is much more common than a card that is billed directly to the company, so when the OP says "corporate card", this is the sort of card that I expect he is talking about. | |
| Oct 9, 2022 at 15:22 | comment | added | Gregory Currie | Really confused about what you're saying. A corporate card is a card that's owned by the company. A lot of companies do reimbursements, but that's not the same as a company card. | |
| Oct 9, 2022 at 13:20 | comment | added | Matt Timmermans | In the US, the usual situation with a "corporate card" is that the credit card bills go to the employee, and the employee gets reimbursed from their expense report, just as with a personal card. The purpose of the corporate card is to recoup the part of the transaction fees that would otherwise pay for benefits like travel miles or cash back, provide uniform insurance on purchases, independence from employee credit rating, etc. | |
| Oct 9, 2022 at 13:16 | comment | added | Gregory Currie | They have already charged their companies credit card. | |
| Oct 9, 2022 at 13:06 | history | answered | Matt Timmermans | CC BY-SA 4.0 |