How do your employees pay for things

Discussion in 'General Business Forum' started by LouJd, Jan 14, 2019.

  1. LouJd

    LouJd UKBF Newcomer Free Member

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    Hi, as the title says how do your employees pay for things they need to do their job. Do you withdraw cash for them or use a company credit card?
     
    Posted: Jan 14, 2019 By: LouJd Member since: Jan 14, 2019
    #1
  2. Newchodge

    Newchodge UKBF Big Shot Free Member

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    Or supply them?
     
    Posted: Jan 14, 2019 By: Newchodge Member since: Nov 8, 2012
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  3. LouJd

    LouJd UKBF Newcomer Free Member

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    They do get supplied with materials and tools for the job and have fuel cards. It was for if they needed an extra part for a job or extra materials and the director isn't there to pay for it
     
    Posted: Jan 15, 2019 By: LouJd Member since: Jan 14, 2019
    #3
  4. Newchodge

    Newchodge UKBF Big Shot Free Member

    11,714 3,027
    It will depend on the value and frequency, but it is safest to try to avoid an open credit card. As a start can you get accounts with the suppliers used? A cash float, which is reconciled against receipts every week, but that only really works for small, irregular amounts. A pre-paid card which you put money onto as needed is probably the safest option. I believe the Post Office does a reasonable one. Only an open credit card if all of those aren't suitable.

    Whatever you use there must be, at least, weekly reconciliation. If it is frequent and a reaonably high amount, then daily reconciliation.
     
    Posted: Jan 15, 2019 By: Newchodge Member since: Nov 8, 2012
    #4
  5. The Byre

    The Byre UKBF Ace Free Member

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    "Hey, I found this magic tool at Lidl and I thought it might be just what we need!"

    Answer - tell X, give her the receipt and she will reimburse you.

    "Hey, we need a new printer/paper/magic machine/aardvark!"

    Answer - tell X and she'll make it all happen as if by magic.
     
    Posted: Jan 15, 2019 By: The Byre Member since: Aug 13, 2013
    #5
  6. STDFR33

    STDFR33 UKBF Big Shot Free Member

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    Why not have an account with a supplier? They can then get the part and it gets put on your account.

    I would want weekly (at least to start with) invoices / statements from the supplier to ensure the ordering is not excessive and / or unnecessary.
     
    Posted: Jan 15, 2019 By: STDFR33 Member since: Aug 7, 2016
    #6