Why does an entrepreneur need a business card and how to use it

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

Learn to pay taxes, shop, and control expenses without unnecessary reporting.

What is the problem with cash for business

Individual entrepreneurs and legal entities cannot spend company money as easily as personal money. They are kept in the bank account, and transactions with them must be reported.

To take money from the current account, you need to go to the bank or take money from the cash desk. This is long, inconvenient and creates additional difficulties for tax reporting, especially when it comes to small daily expenses: pay for the Internet and mobile communications, order a taxi, buy paper for a printer or go on a business trip.

An additional cash problem is suspicion from the central bank and tax authorities. They don't like it when entrepreneurs use cash because they can't see where the money is going. Therefore, it is impossible to withdraw more than 100 thousand rubles from the current account: they may think that you are engaged in illegal operations, and come to you with a check of the financial monitoring of the bank.

It turns out that paying in cash is too troublesome: this is the lack of transparency of expenses, additional work for the accounting department and unpleasant attention from government agencies. Instead of cash, you can use a business card - this is offered by many Russian banks. In addition, the Mastercard Business Bonus program will help you start saving, giving business card holders discounts and privileges.

What is a business card

This is an ordinary bank card for legal entities tied to the current account of an individual entrepreneur or LLC. The card makes payment quick and easy, as well as transfers to the current account. It can be used as a usual card: pay for daily expenses and purchases, withdraw money from an ATM and issue additional business cards for employees.

The business card is issued by the bank where you have a current account. It is suitable for any type of business and taxation system. It doesn't matter what you have: a foreign language school, a furniture factory or a 24-hour tire fitting.

Why do I need a business card

1. To pay bills on time

You can pay bills for office rent, housing and communal services, electricity or the Internet with a business card. The most convenient option is to set up auto payments and not keep everything in your head. If the bills are paid by an employee, there is no need to prepare an advance report with a business card.

2. To quickly pay for monthly services

For example, in taxi, car sharing or mobile operator applications. Money will be debited from the current account without commission and payment orders. In the same way, your employees can pay for services - no need to give them money in advance on account, and then collect change.

When paying with a business card Mastercard, there are discounts on services for business. For example, a 50% discount on recruiting on HeadHunter, a 15% discount on the first office cleaning at Qlean, or 20% on an annual office ventilation service at 4R Climat.

3. To pay for advertising on social networks

A business card can be linked to an advertising account on VKontakte, Facebook or Instagram and pay for promotion from it. Another option is to issue an additional business card for the marketer and set a limit on it. The employee will not be able to exceed the advertising budget, and you will have the opportunity to view the history of transactions.

A special offer from Yandex. Maps is valid for the Mastercard business card: priority placement of the company on the map and highlighting with a special point.

4. To collect revenue

A business card is useful if you collect revenue from outlets every day and deposit money into your current account. This operation can be entrusted to cashiers or couriers so that they replenish their current account using a card at an ATM. This will allow you to opt out of cash collection and security services. When depositing money, you can select the source of receipt of funds, which will be reflected in the purpose of the payment. For example, revenue from the sale of goods and services.

Bookkeeping can be simplified by using special online services. Holders of Mastercard business cards get access to them at a discount. For example, 15% in "Accounting module" or three months free of charge at the maximum rate in "Kontur. Elba".

5. For the purchase of goods

Purchases from suppliers can be paid by card, and not from the current account. The law does not establish a limit on such transactions: if you have a transaction for 1 million rubles, pay a million using the card.

Holders of business cards Mastercard can check the counterparty for free in the service "Kontur. Svetofor" according to data from official sources.

6. To refuel at a gas station

If the business is connected with constant traveling, you can use the card to pay at the gas station. This can be done by you, your driver, or employees using the car. For each, you can issue business cards by setting a limit on the required amount. It is more convenient than issuing money on account and collecting change.

There is a discount on transport services with a Mastercard business card. A 20% discount on delivery to DHL will help you save on sending documents, and if you are thinking of moving and you need loaders, you can use the services of Gruzovichkoff with a 15% discount.

7. To pay taxes

You can pay government fees, consular and visa fees, insurance and taxes using a business card linked to your current account. This is convenient because you can pay online, without visiting a tax or insurance company. A receipt confirming the operation will be sent to your e-mail.

8. To send an employee on a business trip

Usually the money for the trip is issued through the ticket office, and tickets and the hotel are bought through the checking account. A simpler option is to give the employee a company card with a set limit so that he can buy tickets himself, book a hotel and pay for her on the trip. To see what the money was spent on, you do not need to wait for the employee's advance report - all expenses on the card will be displayed in your personal account.

Mastercard also has special offers for travel. For urgent business trips, you can open a line of credit on Ozon. Travel, and to pay less for your trip, you can use the thousand welcome bonuses on OneTwoTrip for Business.

9. In order not to store large amounts of cash

If you pay in cash, you must have a safe. At the same time, one must not forget to keep strict accounting records and always have the company's money with you, so as not to pay with your own. Legal entities cannot be given more than 100 thousand rubles per transaction - they will have to pay through the current account.

With a card, everything is easier: the company's money is available at any time and you do not need to worry about their safety. You can pay for transactions of any amount, and the balance and transactions are displayed in real time.

10. To know where the money is going

You can issue several business cards for the company and set an individual limit for each: for the director - one, for the driver - another. This simplifies the control of the turnover of funds and bookkeeping.

Link the card to your smartphone, install the mobile application and find out who spends money on what. If one of the employees bought a brand new iPhone with the company's funds, you will see this and deduct the amount from your salary. To avoid a showdown, issue an order on the card, in which it is clearly established who can use the card, what to buy and for what amount. You can always change the limits or block the card.

How to report on the map

If you are an individual entrepreneur on a simplified tax system or a patent, you do not need to report on the card. Companies, whose tax depends on expenses, report on the card in the same way as for cash: they prepare an order for spending, collect checks and receipts for payment and include them in the report. If an employee uses the card, he / she needs to draw up an advance report and attach all receipts to it, but there is no need to draw up in advance the “issue of funds on account”.

Short

Paying with a Mastercard business card is more convenient, faster and safer than cash. Depending on the activity and turnover, you can choose the type of business card that best suits your business. It will save time, relieve the work of the accounting department and make expenses in the company transparent. With the card, you can get additional benefits using discounts and privileges of the Mastercard Business Bonus program.