Yes you are doing correctly although I would suggest using a company credit card rather than a debit card which I assume is tied to the company bank account. With a credit card you have more protection is the number gets compromised. If the debit card is tied to a bank account you could lose a lot if compromised and you might not have the same level of protection, that is refund on fraud. I would discuss with bank.

I did suggest this to our management team but they do not want any credit cards like this...our sales reps have their own personal credit cards which they use for flights and hotels and the company simply pays the credit card bill from the checking account on a monthly basis. Do you think there are any potential snags with using personal CC's and the company simply paying the bill each month? 

Why not have them pay for the gas also with their personal credit cards.

We have discussed that and letting them keep their expense reports so that we only enter one transaction per month for each rep and categorize each type to the GL within that one payment. This would eliminate single meal and gas transactions which pile up but didn’t know if this would cause any issues with the accounting. 

I'm curious, how many employees of the company have a "debit card" tied to a corporate or company checking account?  I would worry about a debit card being compromised, when used at a gas station.  Corporate credit cards are safer, and can be set to only allow certain type of transactions based on the employee.  They also protect against fraud better than a checking account debit card. 

We have 3 reps so it's a small operation with people we trust without fail so not really concerned with any issues internally. Of course the cards can be compromised and 1 of them has over the last 5 years but there were no issues. It was resolved quickly and without incident. We also make monthly money transfers into this checking account with the debit cards based on what travel is scheduled, so if there was an issue it would only be with a fraction of our overall bank balances. 

The biggest point for me with this question was simplifying the monthly bank rec. We're entering every single receipt in, even for a McDonald's breakfast sandwich and coffee and it just seems there is an easier way. If we pay the bill as a company to our employees (for the credit card bill) is that considered a reimbursement? Are there any special considerations to make doing it this way? Having individual corporate credit cards is out of the question and really not necessary unless we're breaking any laws.