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Avoiding embezzlement: Using your company card responsibly

On Behalf of | Jan 20, 2022 | Firm News

Company credit cards can have great advantages when used properly. Not only can you have greater flexibility, but you can also rely less on others and improve your productivity.

However, it is important to understand responsible spending practices. Casual or frivolous spending can have many repercussions including criminal charges of embezzlement.

Know the expectations

Your employer should set clear guidelines regarding the approved use of your company credit card. Vague instructions, lax rules and little accountability can all create opportunities for misuse to occur.

At the start of your employment, your employer may require a background check. According to U.S. News, background checks can provide your employer with information regarding your trustworthiness. However, beyond that, they should implement protocols to ensure responsible spending. They should show you how to effectively document and report your spending as well.

Record expenditures

Wrongfully taking money from your employer can result in serious criminal charges. Using your company credit card for personal expenses under the guise of doing your job may jeopardize your career and your freedom. One of the best ways to prevent this outcome is to faithfully record your expenditures. Document each time you use your card and provide a description of what you spent money on and why. You may even consider saving receipts to help you recall specific expenditures. Only use your card for authorized purchases.

If your employer has alleged that you committed a financial crime against them, you may need a trusted attorney to help you protect your rights. With the right help, you may have the chance to protect your name and minimize the impact on your reputation.