Business English Lesson – Advanced Level''''s archiveCorporate Credit Cards pps

Business English Lesson – Advanced Level's archive Corporate Credit Cards 1.. Vincent Eavis explains that corporate payment card usage can be divided, but not limited, into two distinct

Business English Lesson – Advanced Level's archive

Corporate Credit Cards

1 Vincent Eavis explains that corporate payment card

usage can be divided, but not limited, into two distinct

categories: general business travel and entertainment

activities (T&E cards) and business activities

(purchasing or p-cards)

acquirement

acquisition

preferment

procurement

2 T&E spending varies according to a business's needs,

whereas the proportion of purchasing that is now done on

p-cards rather than by traditional payment methods

is continuously increasing

cash

direct

invoice

receipt

3 T&E expenses comprise the second largest controllable

expense item for companies after salaries, consuming

approximately 50 to 80 basis of a company's

revenues

costs

fractions

points

units

4 For T&E cards, the balance must be in full upon

presentation of the statement, or within certain defined

payment terms, typically around 25 days beyond

statement date

approved

audited

checked

cleared

5 This means no money is made on interest as with

the consumer credit card model

rebated

remaining

returned

revolving

6 These cards tend to be for travel and entertainment

expenses such as air travel, hotels, rail, car hire and

restaurants; the company card payments on behalf

of the individual cardholder, which is known as corporate

liability

bears

extends

forwards

settles

7 There are also mid-way solutions such as joint and

liability, where both parties (company and individual)

can be liable

several

single

specific

sundry

8 Typically, since corporate T&E cards are for business

expenses, the preferred option to enable control should be

corporate liability: the further liability extends to the

individual, the less the company is going to be able to

exert control and thereby the potential benefits

grasp

pluck

reap

seize

9 P-cards are never paid an individual's bank

account

against

at

into

under

10 P-cards can eliminate several steps in the

purchase-to-order process, and this eliminates the purchase order

paper , which can save costs of anywhere from 60 to

100 per transaction

chase

cycle

glut

trail