What type of card allows an employee to make transactions on behalf of a company?

A P-card, or procurement card, is specifically designed for employees to make purchases on behalf of their company. It allows for more efficient tracking and management of department-level purchases, streamlining the procurement process. Unlike traditional credit or debit cards, which are tied to personal or general banking accounts, P-cards are often issued by a company and come with specific spending limits and guidelines tailored to business needs. This enables employees to make necessary purchases without needing to go through the often lengthier approval process for accounts payable or reimbursements. Additionally, P-cards can help organizations maintain better control and visibility over spending, as they provide detailed transaction records that can be integrated into financial reporting systems. This makes them a valuable tool for managing company expenditures effectively.