Maximum time to repay expenses
Discussion
Countdown said:
That's odd. Every place where I've worked the Credit Cards/Fuel cards get paid off automatically. That's the whole point of having them. The only time they've been blocked is when they go missing (and most of the fuel cards tend to be linked to a specific vehicle so cant be misused). CC's do tend to have a monthly cap but that would be set based upon the person who was using it.
If your fuel card got blocked I assume every card on that particular account got blocked?
The provider(s) gets paid, internally the card is blocked if the expenses are not submitted and authorised within a specified time period following issue of the monthly card statements. Fuel card is a joke, whilst it is PIN protected, they are not set up to request milage when payment is made and nobody ever checks the number plate against the vehicle that was fuelled If your fuel card got blocked I assume every card on that particular account got blocked?
devnull said:
Previous employer issued us all with AMEX Charge Cards, i.e. the ones which you have to clear the balance by the due date. Which was fine, unless you have two levels of approvers above you, who were both very tardy with doing what was essentially a core part of their role. If you didn't chase them, you'd be liable for the late payment charges, and in theory it could even affect your credit rating.
Don't understand that - if they issued the cards, surely they pay the bill? That's how ours work. They get paid automatically by direct debit.One place I worked at were always slow and one of the guys sent a solicitors letter in. That didn't go down well.
shep1001 said:
Countdown said:
That's odd. Every place where I've worked the Credit Cards/Fuel cards get paid off automatically. That's the whole point of having them. The only time they've been blocked is when they go missing (and most of the fuel cards tend to be linked to a specific vehicle so cant be misused). CC's do tend to have a monthly cap but that would be set based upon the person who was using it.
If your fuel card got blocked I assume every card on that particular account got blocked?
The provider(s) gets paid, internally the card is blocked if the expenses are not submitted and authorised within a specified time period following issue of the monthly card statements. Fuel card is a joke, whilst it is PIN protected, they are not set up to request milage when payment is made and nobody ever checks the number plate against the vehicle that was fuelled If your fuel card got blocked I assume every card on that particular account got blocked?
With regards to fuel cards - you're right, the staff don't bother checking the card against the vehicle but in that case it's their lookout if the card goes astray. However how did yours end up getting blocked? Do you need your receipts for fuel to be approved as well?
Sheepshanks said:
devnull said:
Previous employer issued us all with AMEX Charge Cards, i.e. the ones which you have to clear the balance by the due date. Which was fine, unless you have two levels of approvers above you, who were both very tardy with doing what was essentially a core part of their role. If you didn't chase them, you'd be liable for the late payment charges, and in theory it could even affect your credit rating.
Don't understand that - if they issued the cards, surely they pay the bill? That's how ours work. They get paid automatically by direct debit.It tends to focus minds in relation to checking your spending/keeping your receipts when you might not get them reimbursed.
Sheepshanks said:
devnull said:
Previous employer issued us all with AMEX Charge Cards, i.e. the ones which you have to clear the balance by the due date. Which was fine, unless you have two levels of approvers above you, who were both very tardy with doing what was essentially a core part of their role. If you didn't chase them, you'd be liable for the late payment charges, and in theory it could even affect your credit rating.
Don't understand that - if they issued the cards, surely they pay the bill? That's how ours work. They get paid automatically by direct debit.One place I worked at were always slow and one of the guys sent a solicitors letter in. That didn't go down well.
devnull said:
They issued the cards, they pay the bill, but up to the employee to reconcile, add receipts and submit for approval. The card didn't get paid until the expense claim was fully approved.
In that case why would the employee get the late payment charges, and how could it affect their credit rating?devnull said:
They issued the cards, they pay the bill, but up to the employee to reconcile, add receipts and submit for approval. The card didn't get paid until the expense claim was fully approved.
If they pay the bill how do you get stung for the late payment charge? Surely that would sit on the CC statement.....Just curious because I’d love to implement something like that at our place but it would go down like a lead balloon
We give people 3 months to reconcile their CC bills and (if it’s still not done) we suspend their cards.Countdown said:
The Credit card being blocked makes sense (we do it all the time). However we don't have a "manager approval" step so, as long as people have uploaded their receipts on time the card doesn't get blocked.
With regards to fuel cards - you're right, the staff don't bother checking the card against the vehicle but in that case it's their lookout if the card goes astray. However how did yours end up getting blocked? Do you need your receipts for fuel to be approved as well?
Somebody left the company, my card was removed in error. I have given up trying to fathom what goes on with our fleet teamWith regards to fuel cards - you're right, the staff don't bother checking the card against the vehicle but in that case it's their lookout if the card goes astray. However how did yours end up getting blocked? Do you need your receipts for fuel to be approved as well?
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