TL:DR - please get invoices for all expenses hitting the company card, please check in with finance before making bigger purchases (~4 figures upwards p/a) 👍
-- A quick preface as to why we have pretty guidelines in place for the company credit card - in the past, the card details were open to everyone, and the card soon got inundated with mystery charges for which we could never locate receipts. This caused a lot of extra work - we needed to track down invoice copies behind the scenes for our bookkeeping, as every charge on the card needs an audit trail. We've found that having some guidelines in place for using the card helps us meet our accounting requirements without hopefully causing you too much disruption. So with that in mind, we would be super grateful if you could note the following 🙏:
1) For each payment or amount charged to the card, we need an invoice (sadly this applies even if the amount is minuscule - we need to be able to show we know what each cost was). Subscriptions with automated renewals sometimes get added to the card - please forward us the invoice copies as you receive them (or you can add one of us as billing admin to the account so we can pull the invoices directly for you from the account). What we ideally need is an
invoice not a
receipt (if the choice is available), in pdf (a billing confirmation email linking to an invoice typically isn't sufficient). Send invoice copies to [email protected] where they'll be picked up by our accountants.
2) If you're setting up a recurring subscription for more than a month, please obtain a contract or a copy of the terms & conditions which shows the subscription term and termination clause (so we can understand the level of commitment involved and our options).
3) For subscription charges to the card above $200/month or $1400/year - please run these by the team lead and/or Finance, who should check the contract terms and conditions. For pricier subscriptions, there may be a better option that we can figure out with the provider (e.g. paying by invoice or direct debit).
4) Unless there is a significant (~>20%) saving to be made from annually subscribing to a service, our preference would be to make monthly (rather than annual) card payments for any service costing over $12000/year. This is because big annual charges on the card can sometimes max out our cash limit and lead to the card getting declined across multiple services.
5) You're welcome to put subscriptions on your own personal credit card and expense them if you like (e.g. if you're collecting air mile points etc.) - please include any recurring costs on each monthly Expensify report.
6) The card we have in place is a Revolut prepaid card (Mastercard). This card type isn't always accepted by all merchants - in cases where it's not, we'll figure something else out.
7) If you have a business expense and want to use the company card to pay for it, ping @ceri or @rajanie and we'll help you make the payment (can be one off or recurring expenses).
8) For any subscriptions you've started, taken on, or amended, please keep the details up to date here.
Thank you! 🙌🏻