6/3/2023 0 Comments Divvy corporate card![]() ![]() The credit line is tied to the organization, not an individual. Introducing Divvyĭivvy is a business expense management solution owned by that includes two main components:ġ) Physical and virtual Visa charge cards andĢ) Expense and management software that tracks spend from those charge cards.ĭivvy makes credit card administration easier for management and for card users.įor starters, Divvy bases approval for nonprofits on the organization’s application only. Are they waiting for the monthly credit card statement so they can rack their memory for the information, then write it on the statement for the bookkeeper?Īnd finally we found one. Sometimes individuals need to indicate the account number and/or grant on charge purchases. Are you still requiring credit card users to tape receipts to a sheet of paper for submission to bookkeeping?ĩ. Individuals who use a credit card need to submit receipts for purchases. (We have a client with a “phantom” Amex card that, despite hours on the phone with the Amex service desk, they have not been able to close out since the person who created the account left.)Ĩ. Credit cards can be difficult to administer or close if the person who opened the card leaves the organization. Opening a credit card account often require someone’s social security number and puts that person on the hook personally to pay the card liability.ħ. If you accidentally underpay the total card balance one month, all your charges now are subject to interest expense at crazy high rates.Ħ. Whenever you get a replacement card you must set up a new card number on all the online vendor accounts that rely on it.ĥ. More than once we’ve seen organization cash stolen via credit card. Credit cards expose the organization to fraud from within the organization. ![]() Fraudsters can rack up charges depending on the card’s credit limit and how fast the card issuer or organization catches the unusual spending pattern and shuts off the card.ģ. What happens if someone else needs the card while it’s out? What if the card gets lost? How do you enforce accountability?Ģ. They have people “check out” the card when they need to buy something. To manage physical credit cards, some organizations use the “library” approach. Is it possible to make credit card administration any easier? First consider all these credit card management problems. Yet they are often essential for staff to carry out the organization’s business. Credit cards always seem to be a sore spot for nonprofits. ![]()
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