The Business Credit Card We Actually Use | Software Saturday

Get $500 with Bill Spend and ExpenseSpend your first $500 on the card and they pay it back to you. We are affiliates, and we use it ourselves.Today is Software Saturday and we are talking about Bill Spend and Expense, which we joined back when it was Divvy and still use every week. I will say it upfront: we are affiliates. I would also never recommend something I do not use myself. What I really want to get into is the business credit card side of it. Every business needs one, and no, running everything on your business debit card is not the same thing, because the fraud protection and the spending power just do not exist on debit. But this is not a card you carry a balance on. Credit cards are for expenses you pay off every month. They are not capital funding, so do not put equipment on one. Then the parts I love: photograph any receipt over seventy five dollars and it syncs straight to QuickBooks, a separate virtual card for every subscription, and a real budget for every employee. Jonathan pushed back when I called that control. He is right. It is empowerment.Book a Free Call with PennyConnect with us:FacebookInstagramLinkedIn1610 Financial SolutionsTakeaways:Every business needs a business credit card, because the fraud protection and spending power that come with credit simply do not exist on a debit card.A credit card is for expenses you pay off every month, not for funding equipment, so finance the equipment separately.Keep documentation for anything over seventy five dollars, because that is the line above which the IRS can ask you to support the expense.Give each employee their own card with a set budget instead of passing yours around, and put every subscription on its own virtual card so one compromised number does not take down all of them.If you have a partner or employees the rule is a receipt for every dime, and removing the temptation to steal is a way of loving the people who work for you.This show is for general information and encouragement. It is not tax, financial or legal advice. Please consult a professional about your particular situation before you make any decisions.