What is the initial action to manage company credit card charges effectively?

The initial action to manage company credit card charges effectively is to add a company credit card account. This step is essential because it establishes a dedicated financial record for all transactions related to the company credit card. By setting up this account in the financial system, you can ensure that all expenses incurred on the credit card are tracked accurately.

Once the credit card account is created, it becomes possible to record transactions, reconcile statements, and manage payments efficiently. Having a dedicated credit card account allows for better categorization of expenses, making it easier to monitor spending patterns and maintain detailed transaction histories. This foundational step is crucial for effective financial management and reporting.