How Does A Corporate Credit Card With Budget Restrictions Work?
When a company decides to issue a corporate credit card to an employee, department or project, the administrator sets the card’s limits to conform with the budget restrictions decided upon beforehand. Typically an administrator would create a spending limit for the card, set a time limit during which the card can be used and select the purchase categories the card is able access. If the card user attempts to breach any of the limits, the transaction will be denied. Those with authority are able to monitor any charges made in real time. At the end of the spending period a statement is issued by the credit card company which must be remunerated by the payment due date.
What Are The Benefits Of A Corporate Credit Card With Budget Restrictions?
A corporate credit card with budget restrictions allows a company to control and monitor the spending of an employee, a department or a project. Spending can be limited to a specific time frame, by amount and by the type of goods or services purchased. These various controls allow a company to easily monitor where, when and by whom expenditures are made while ensuring all spending remains within the desired budget. A corporate credit card with budget restrictions is especially useful in controlling costs of companies with a large number of authorized buyers.
Emburse Corporate Credit Cards
Emburse now offers corporate credit cards that allow a company to easily create budget and spending restrictions. If you would like to learn more about how Emburse can help your business with its budgetary restrictions, get in touch for a free demo today.