Business Admin User Guide_Company Use

Admin User Guide

Overview eZBusiness Card Management is a powerful credit card administration tool, which allows companies and program administrators of commercial and business card accounts to manage their cardholder accounts. Commercial Card Overview Commercial cards are credit cards issued to an employee of a company. The decision to issue the card to an individual, and the amount of the credit line that will be extended, is made by the company, not the issuer (financial institution), as they decide about issuing consumer cards. In addition, the company is ultimately responsible for the combined outstanding loan balance on individual credit card accounts. A company can choose to receive a central billing statement for all credit card purchases made by the individual accounts and handle making the payments each month, on behalf of the cardholders. Or, it can choose to have each individual cardholder receive a monthly billing statement for their credit card purchases with each cardholder making payments. When commercial cardholders are individually billed, the company is responsible for ensuring that payment is ultimately made if a cardholder defaults on their account.

Account Types Overview There are three types of eZBusiness commercial card accounts:

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Individual Accounts Individual accounts are commercial card accounts that are opened in the names of the employees of a company that has a commercial card program. A credit card is issued for each of these accounts, so the employee can use the credit card for business expenses such as, travel expenses, purchases, and other business expenses. Billing Accounts Billing accounts are commercial card accounts that are used to accumulate the purchases of individual commercial card accounts. There is no credit card associated with this type of account, so it cannot be used to make purchases. All transactions made by individual cardholders are diverted to the billing account for central billing.

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Setting Up Commercial Card Programs You can set up a commercial card program either as an individually billed program or a centrally billed program, as described in the table below.

Account Types

Description

If the commercial card program is individually billed, each cardholder in the program receives a monthly credit card billing statement and is responsible for paying his or her bill. If the cardholder defaults, the company is ultimately responsible for making sure that the payments are made for all cardholders in the program. If the commercial card program is centrally billed, all purchases made by the individual cardholders roll up to a single billing account for billing purposes. ❖ The transactions are memo-posted to the individual account and financially-posted to the Billing Account. ❖ The monthly credit card billing statement is prepared only for the billing account, and the company is responsible for paying the monthly bill. The individual cardholders can still receive a monthly memo statement, but it is only a listing of the activity on their card, and there is no financial obligation.

Individual Account

Billing Accounts

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