Company Credit Card Policy Template

Purpose

A Company Credit Card Policy Template serves as a comprehensive guideline outlining the rules and regulations governing the use of company-issued credit cards by employees. This policy ensures consistent and responsible use of these financial instruments, protecting the company’s assets and maintaining financial integrity.

Key Components

A well-structured Company Credit Card Policy Template should include the following essential elements:

Card Eligibility

Clearly define who is eligible to receive a company credit card. This may include factors such as job position, tenure, and level of responsibility.

Specify the criteria for determining the appropriate credit limit for each cardholder.

Outline the process for requesting a company credit card and the necessary approvals.

Permissible Expenses

Clearly delineate the types of expenses that are considered legitimate business expenses and can be charged to the company credit card.

Provide examples of acceptable expenses, such as travel, meals, client entertainment, and office supplies.

Outline any restrictions or limitations on certain expenses, such as personal use or excessive spending.

Expense Reporting Requirements

Establish a detailed process for employees to submit expense reports for charges made on their company credit cards.

Specify the required documentation, such as receipts, invoices, and supporting evidence.

Set deadlines for submitting expense reports and outline the consequences of late submissions.

Card Usage Guidelines

Provide specific guidelines for card usage, including:

Authorized Users: Clearly define who is authorized to use the card and under what circumstances.

Card Security: Emphasize the importance of safeguarding the card and its PIN number.

Online Transactions: Outline the procedures for making online purchases and the necessary approvals.

Foreign Currency Transactions: Address the handling of foreign currency transactions and any associated fees.

Unauthorized Charges and Dispute Resolution

Outline the procedures for reporting unauthorized charges and resolving disputes with card issuers.

Specify the company’s liability for unauthorized charges and the steps employees should take to protect themselves.

Card Termination and Recovery

Detail the circumstances under which a company credit card may be terminated, such as employee termination or violation of policy.

Describe the process for recovering the card and any outstanding balances.

Policy Enforcement

Clearly state the consequences for violating the company credit card policy, including disciplinary actions or financial penalties.

Outline the review process for policy violations and the appeals procedure.

Design Considerations

To create a professional and effective Company Credit Card Policy Template, consider the following design elements:

Clarity and Conciseness: Use clear and concise language that is easy to understand. Avoid jargon or technical terms.

Organization: Structure the policy in a logical and easy-to-follow manner, using headings and subheadings to divide sections.

Consistency: Ensure consistency in formatting, font, and style throughout the document.

Professional Appearance: Use a professional and visually appealing layout that reflects the company’s brand.

Accessibility: Make the policy accessible to all employees, including those with disabilities. Consider using plain language and providing alternative formats if necessary.

Additional Considerations

Regular Review and Updates: Periodically review and update the policy to ensure it remains relevant and compliant with changing regulations.

Employee Training: Provide training to employees on the company credit card policy to ensure they understand their responsibilities and obligations.

Communication: Communicate the policy to all employees and make it easily accessible.

Customization: Tailor the policy to the specific needs and circumstances of your company.

By following these guidelines and incorporating the key elements outlined above, you can create a comprehensive and effective Company Credit Card Policy Template that promotes responsible financial practices and protects your company’s assets.