Ask what happened
SoloInc asks for the business purpose and supporting record when a transaction is unclear.
High-intent guide
Used the corporate card for something personal?
It happens. The important step is to identify the transaction while the facts are fresh, rather than treating the corporate card as evidence that an expense is deductible.
What this can mean for you
These are the practical signs to raise early, before a routine item becomes an unresolved year-end issue.
- 01
A personal purchase appears on the corporate bank or credit-card statement.
- 02
A business cost was paid from a personal account.
- 03
The receipt does not explain the purpose of a transaction.
- 04
Owner transactions have not been separated before year-end.
How SoloInc handles the routine
SoloInc keeps ordinary compliance moving for eligible corporations. The owner provides complete records and answers the questions that need context.
Keep the books honest
Routine business expenses are recorded with their support. Personal items are identified and recorded appropriately.
Keep the owner account visible
If a transaction affects the owner, SoloInc keeps it visible so it can be addressed before annual work begins.
Clear boundary
When this needs a closer look
SoloInc identifies the issue, explains the next step, and agrees separate specialist work before it begins.
- A significant or recurring personal-use issue.
- A balance that may create a shareholder-loan or benefit question.
- A transaction requiring detailed tax or legal advice.
Common questions
Q.01Can the corporation deduct a personal expense if it paid the card bill?+
No. The payment method does not decide deductibility. The purpose and facts of the expense matter.
Q.02What should I do if I notice one?+
Send the receipt and a short explanation promptly. It is easier to record correctly while the details are available.
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