What is a basic credit card policy and internal control for charges?

         

Credit Card Policy and Charges

All staff members who are authorized to carry an organization credit card will be held personally responsible in the event that any charge is deemed personal or unauthorized. Unauthorized use of the credit card includes: personal expenditures of any kind; expenditures which have not been properly authorized; meals, entertainment, gifts, or other expenditures which are prohibited by budgets, laws, and regulations, and the entities from which the firm receives funds.

 The receipts for all credit card charges will be given to the Owner/President or Bookkeeper within two (2) weeks of the purchase along with proper documentation. The Owner/President will verify all credit card charges with the monthly statements. A record of all charges will be given to the Bookkeeper with applicable allocation information for posting. A copy of all charges will be attached to the monthly credit card statement when submitted to the Owner/President for approval and signing.