Generally, if an employee incurs legitimate business expenses on behalf of the company and pays for those expenses using their own money or a personal credit/charge card, the employee, subject to the company’s policy and its ownership or management’s approval, may submit a company expense report with the proper receipts/backup for reimbursement through the company.

A cash flow projection is another tool to help manage and monitor the financial health of your business and for fiscal year planning and budgeting. In a cash flow projection, you are projecting your potential monthly cash inflows and outflows.

It should go without saying that your business bank account is intended for legitimate business transactions and is not to be used as a personal expense account.

If you (the business owner) or your employees need to use a personal credit or charge card (or even cash) for legitimate business-related expenses, complete a business expense report with an itemized list of the transactions.

If you need to issue a business credit or charge card to certain employees, be sure to have a clear policy on the proper use of the cards.

When evaluating business credit or charge cards, carefully review all the different account offerings available.