Business Expenses (forced to use personal Creidt to pay for Business Travel)

stee1y0

Thanks for the replies everyone, I guess I feel that using my personal finance to aid my company is not something I feel comfortable doing. If they were to pay me an APR based on what they borrow off me, that would be a fairer way.




The company I work for have a petty cash tin, but wont even let that be used for simple things like filling up the pool car. Very frustrating.


Thanks again.

[Deleted User]

How did you manage to become a 'senior manager in a global business' without ever previously having to spend on expenses?

Just man up, order a credit card (maybe get yourself a meerkat at the same time) and use that exclusively for work. As long as your expenses come back within a month you won't pay any fees. If you're scared of 'fraud' then make sure you get one that gives no perks at all. If you want to be altruistic you could get one that pays money to charity.

Paying back within the money doesn't cost you anything, doesn't mean you've 'invested' anything. I've actively declined company credit cards because they're typically rubbish ones (e.g. Diners cards)

I've never quite understood people who were scared of using credit cards. They're just a financial tool, and great for short term money borrowing. My brother is oddly allergic to them too. I think i've got about 4 at the moment; i'm using Quidco and balance transfer to borrow £1500 for 2.5 years and pay 0% interest on it (the £20 quidco cashback counteracts the low 1.5% fee). My other cards give me various points/vouchers and are all paid off by direct debit monthly.

InsideInsurance

If you dont want a credit card for personal reasons then use your debit card to pay for it, your employer wont care and they are as widely accepted as credit cards.

As others have pointed out, if you are charged £500 for a stay at a hotel and you charge your employers £500 for that stay then there is no fraud. If your card happens to give you 500 avios points or £5 cashback in a years time subject to you meeting a number of other criteria (keeping in limit, paying on time etc) then well done, you're still not being a fraudster and you are using your initiative to make the most of the trip. Its really no different to you using your free time in the evening to buy cheaper Jeans in the USA which you wouldnt have otherwise been able to do had the company not sent you to the USA - still doesnt mean you have to give the employer the £30 you saved on a pair of Levis

I agree with others, these seem fairly basic questions for a senior manager of a multinational company.

Tiddlywinks

The vast majority of companies (and public sector) expect the employee to pay for meals, travel etc and then claim it back.

You are ex army - just accept that no one else will work the 'green skin' way... no travel warrants, no doggy bags etc.

Comply with your company's policies or leave. Your choice. Asking them to provide payments for each and every expense before purchase is petty and not cost effective in time and resources.

I struggle to understand how an ex Officer who has secured a senior management position can fail to grasp the basics.

Have a word with your Army resettlement advisor as you need to understand how your current view and attitude regarding expenses is not compatible with normal commercial policies.

Honestly, you need to get used to life outside or you will soon be unemployed and then unemployable.

James_B.

stee1y0 wrote: »

Thanks for the replies everyone, I guess I feel that using my personal finance to aid my company is not something I feel comfortable doing. If they were to pay me an APR based on what they borrow off me, that would be a fairer way.

I know what you mean. My firm does even worse than this, in that they don't take money off me before payment, they actually take time!

You may find this hard to believe, but they make me go in to the office, every week day, and stay there for hours and hours on end, doing relatively mundane tasks. I get no interest on this time, in fact, the deal is completely in their favour, as I get nothing at all until the end of the month.

Like you, I think that this is a damned liberty, and have insisted that they send someone around every thirty seconds with a cash payment.

I explained that making someone work for no money is slavery, and we abolished that a loooong time ago!

And, for a more serious answer, what you are doing at work is completely standard. It is a ludicrous suggestion that they pay you interest.

duchy

There is no need for interest as you won't be paying any so long as you put your expenses in promptly.
Most companies see the perks of a card as the trade off for you having a card to support their way of doing expenses. Look at what different cards offer. You may want cashback or you might decide a card that gives you airline miles or supermarket points suits you better and not feel like "money".

Just a very different culture -and one in a year's time you'll wonder why you ever had a problem with it. Might be a good heads up to remind yourself that there will be instances when you need to remind yourself that the ways you are accustomed to are not the only way or even the "right" way with your new employer.

getmore4less

If you incur charges because of the company payment cycle then they need to pay the charges on expenses this should not need an explicit policy.

it can be a good idea to have a couple of cards with cut off dates around 15days apart to stagger the expenses so you get the money into your account early.

BY having a work only card it makes it easier on charges no need to apportion.

Scorpio33

Its normal for companies to expect you to pay for your expenses and reclaim them. Think about it - if you had a company credit card which they paid for, it leaves them open to more risk of abuse of use of the card. Also, you reclaiming them means that the company can reject any invalid claims, so puts the onus on you to ensure all expenses are valid, have appropriate back up etc.


The only thing I would say is that surely you knew this prior to accepting the job? Surely if you did have an issue with this and did not have access to credit then you would either accept the implications on yourself or refuse the job.


To me, you having to pay for your expenses and then reclaiming them is part and parcel of your job.

FBaby

Your expectations are not reasonable. You can argue it as much as you want, but as such, you are likely to be the one not getting your own way.

DCFC79

Ive only ever known it where you pay using your own money then claim it back, it seems the most sensible way of doing it, its the way I would do it if I was in charge of a business.