Business Debit Card Usage

We see business people using their business debit cards more and more for personal purchases.

We do not recommend this for various reasons:

  • Correct bookkeeping procedures requires entry of each transaction into your books, resulting in additional time in bookkeeping and additional cost.
  • As bookkeepers we would rather not know some of your personal shopping habits.
  • It is frowned upon by the CRA and opens your personal business up to audit.

What to do instead:

  • Write yourself a cheque and do your personal purchasing through your personal account or take cash instead.