Being an employee in a growing company generally means have to embrace change; you may find yourself working alongside new colleagues as the business expands and you may even find yourself having to assume new and greater responsibilities. With more staff and structural changes, there is generally more administrative work for a company to deal with and this in itself can impact upon the employee – but, if the company owner is ‘on the button’, these changes can help to save you time and make life easier. A business credit card is just one of these positive changes.

In the early stages of expansion, you may find yourself issued with a business credit card by your employer – but what does this mean to you? Obviously, the card extends a credit lifeline that can be used, even if the company is going through an unexpected ‘bad patch’, such as an unforeseen dip in sales or a delay in payment from a large contract. During times like these you, as a representative and employee of the business, need to be able to conduct yourself as though the business is achieving its regular turnover; you will still be chalking up expenses as you order supplies, travel or entertain clients – after all, meeting and greeting generates business for your employer and, in turn, keeps you in employment.

A business credit card keeps a record of your spending, allowing the business to function more efficiently. Each time the card is used, the transaction is automatically logged online and the company is sent a bill that features all of your and your colleagues’ spending. This way, you don’t have to worry about collating and organising dozens of receipts and bills, as the accountant can see the details of any transactions you make. It also removes the worry about losing receipts or forgetting to submit hotel bills, car rental receipts, petrol and entertaining bills on time.

In turn, the company can then see just how much is spent and on what. This can help an employee, as the business can then predict just how much annual spending may need to rise and you may find yourself allocated a larger expense budget. It also means that the likelihood of disputes over necessary expenditure is reduced; with a definite, online log of your spending habits, a company can be more secure in issuing a card to an obviously dependable employee. In the early days of card issuing, there may be a limit placed on the amount of credit you have access to. Again, this can be of benefit; either your necessary spending will fall well within that amount or the credit available will simply not be enough and the online log can work in your favour to agree a higher limit.

Practically, a business credit card can save you time that could be employed elsewhere; rather than filing endless receipts and chequebook stubs, many business credit cards offer the facility for the employee to examine the records of his or her transactions, state which ones the company is liable for and simply wait for the accountant’s approval. If the occasion arises where you have put yourself ‘out of pocket’ on the business’s behalf, then remuneration can be swift and hassle-free.

It used to be the case that an employee could benefit from using their own personal credit card to finance things like road-mileage; not only were they reimbursed, but they could qualify for rewards according to their road-mileage. Business credit cards used to plough those rewards straight into the company, but now most cards offer the rewards directly to the employee, in recognition of their time spent on the road. A company card not only removes the strain of expense reporting from your shoulders, but it can also offer you and your employer’s business protection against unforeseen circumstances and unnecessary disputes.