Company credit cards requirements are:
- ENTER AND PAY THE BILL: Dime should have access to your credit card site and will set up an internal notification for when the statement is ready each month. We will log in and pull the statement and post the bill to be paid unless you direct us otherwise. If you are using Divvy, the payment process is automated.
- CODE EACH TRANSACTION: Each transaction on the credit card statement must be coded, using the chart of accounts, by you and/or your employees. We have two primary methods for obtaining this coding:
- Export of the transactions into an excel spreadsheet which will be sent to you for coding (if volume is significant this may be done weekly or bi-weekly during the month);
- Use of electronic expense reporting systems (such as Divvy) which allows card users to enter coding online via the mobile app or website.
- Export of the transactions into an excel spreadsheet which will be sent to you for coding (if volume is significant this may be done weekly or bi-weekly during the month);
KEY POINTS: Someone will need to have responsibility to review credit card charges for compliance with your policies on use of company credit card.
It is not necessary to submit transaction receipts to Dime. These should remain in your files.