Owning a small business usually entails using business credit cards for daily operations. Follow these tips to manage your credit cards:
Don’t put personal expenses on the company credit cards, and don’t put business expenses on personal credit cards.
Slowly build credit. Don’t be afraid to use your company cards. Building credit is important.
Watch employee spending. Business meals, supplies travel, and other items can get out of control fast.
Review charges monthly. Don’t just pay the bill. Look over each charge to optimize spending in the future.
Remove and review company credit cards when an employee is terminated. When employees are fired or quit, make sure they no longer have use of the card, and terminate any subscriptions for those employees.