Authorizing Employees to Use Your Debit/Checks

[missy]

Ok so I am new to business management:-)

How do you handle purchases/expenses? I have complete control now but there are times it would help to have my Director or another staffmember pick up some things when needed in a pinch.

Do you trust them with that info/access?? I don't NOT trust my staff but want to be cautious of course.

[Blackcat31]

I would have a credit card that is CHILD CARE ONLY.

Require receipts and advance permission.

Talk to your banking institution and notify them of which employees have authorization to use the card.

[missy]

Yes it is a business account only. I am just weary of them having it because they could keep the #'s and go shopping online!

[Blackcat31]

Yes it is a business account only. I am just weary of them having it because they could keep the #'s and go shopping online!

But you would see that immediately and of course have legal recourse so I wouldn't worry too much about it.

Just make sure you have ALL the necessary info about an employee BEFORE allowing them to use the card.

That way IF you ever had to track them down, you will have their info.

[TwinKristi]

There's a few options really...

A) petty cash, you can keep $100-$250 depending on your needs in a small lockable cash box and they can take what they need for an authorized purchase but provide you with a receipt and exact change.

B) A separate low limit credit card for employee use to be checked out and checked in after with receipt. Maybe find one that emails you confirmation for your purchases so you can see when, where and how much to avoid fraudulent purchases. I have a PayPal acct that I can accept payments through and have an associated debit card and it emails me every purchase.

C) checks only