Country Club Billing

You go out to dinner with a client. You ask for a bill. You aren’t happy that you had to buy them that cheesecake. But whatever...you need to get the deal done.

If you’re going to write that dinner off to your business, you need to get a receipt. Otherwise, the IRS will be in your business. And you could get audited.

Too bad it’s not the 1970s. Back in the day, credit card companies used to send customers their original sales receipts with their monthly statements. This was called Country Club billion, because it was perceived that credit cards were only for rich people.

The process was part of a broader goal of offering proof of record. However, this style of statement shipments ended thanks to increasing postage, paper, and labor costs.