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A vendor friend wants to use our credit card machine for his sales. we would give him a check with info in memo section indicating it is his $....we would not report this amt as it is his income ..it would be in our records as stated ..is this proper.

By Anonymous Asked Feb 26 2009 10:02AM
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Answer 1 out of 3

by BROADWAYTHECAT on Feb 26, 2009 at 8:03 pm Permalink

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Remember, it will be your business that shows up on the credit card bill. If these folks haven't authorized you to charge their credit card, they can contest the charge. If you have to give the money back, will your "friend" step up and give you back the money you gave him.
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Answer 2 out of 3

by Jenniferocious on Feb 26, 2009 at 10:11 am Permalink

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Aside from all the other legal/tax issue possibilities here...

Don't you have to pay a percentage on those credit card transactions to the credit card companies?

Why would you want to pay the fees for his transactions too?

Let him get his own darn machine.
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Answer 3 out of 3

by john pennington on Feb 26, 2009 at 10:07 am Permalink

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This is like i ask you to borrow your car, so i can go rob a bank.

I get the money and you get caught, if someone sees your license plate number.

If you allow this to happen, maybe i can interest you in some stock in the golden gate bridge.

No, do not do this.
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A vendor friend wants to use our credit card machine for his sales. we would give him a check with info in memo section indicating it is his $....we would not report this amt as it is his income ..it would be in our records as stated ..is this proper.

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