Canada Quick question about cash withdrawls from credit card


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Hey guys, first post :p

Just a quick question.

So I need to categorize credit card transactions for every month..

When a business credit card is used to withdraw cash at the ATM and there's no provided evidence that the cash withdrawn was used for business purposes, would that transaction fall into personnal expenses?

Thanks!
 
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bklynboy

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Wouldn't they still have a receipt after using the cash to pay a business expense? At my firm unless amount is below $25.00 then we don't pay the charge. In any event that's company policy and if you do cover that cost then its still a business expense - if asked to prove it is by taxing authority that may be an issue.
 

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