keep your business and personal charges separate

by James Earl T. Cua Lee
(Philippines)

Keep track of personal credit card receipts
The convenience of paying for business expenses by credit card means hassle-free transactions anytime, anywhere. Take care, however, when paying for business expenses with your personal credit card. It's easy to lose track of personal receipts, forgetting they relate to business charges. Without these receipts, it's impossible to show evidence of a business expense paid with your personal credit card. You must substantiate your business expense claims, it's necessary to have all related receipts on hand. In the long run, a detailed expense report can save you and your business time and money by providing sufficient evidence to back up your business expense claims.