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.