It can be a real pain managing employee expenses. Employees don’t give you receipts, they don’t submit their expense claims on time. Then you’ve got to check and approve everything, and make sure they get paid on time.
It’s time consuming, and can be stressful. But guess what – there is a better way! You knew we’d say that.
What if we said you could not only make the process easier for your employees, but for you too?
Soldo is a handy tool for business owners like you to share Mastercard debit cards with employees. It helps you manage and track employee spending more easily.
Here’s how Soldo works in simple terms:
Multiple Debit Cards:
You can give each employee their own Mastercard debit card linked to a main account controlled by you. They can use these cards for work-related expenses like travel or supplies.
You can set specific spending limits for each employee’s card. This ensures they don’t go overboard and helps you stick to your budget.
You can also set budgets for different departments or projects, by using a separate card for each one, with its own spending limit.
Geo-Tagging and Time Limits:
You can set geo-tagging so that employees can only spend in certain geographical areas, or certain types of outlets.
You can also only allow spending at certain times of the day.
You can see what employees are buying in real-time through the Soldo app or website.
You get notifications whenever they make a purchase, so you always know what’s happening.
Employees can take pictures of their receipts using the app. This makes it easy for you to keep track of expenses and reimburse employees without dealing with paper receipts.
Simple Expense Reports:
Soldo makes it easy to create reports that show all the expenses. You can see how much money is being spent and where it’s going, which helps you plan better.
Soldo integrates with Xero. This means you can automatically import transactions via Soldo’s daily bank feed, and save time on manual data entry.
Soldo takes security seriously. Each card has a PIN, and you can block or unblock them instantly if needed. Your financial information is kept safe with encryption and secure systems.
By using Soldo, you can save time, keep track of expenses more easily, and have better control over your business finances. It helps everyone involved by simplifying the process of employee spending and reimbursements.
Get in touch with us today to find out more about Soldo, and so many other ways that we can automate and streamline your finance process.
We’re known as Xero Wizards, so let us take the hard work out of your accounting function.
Register for a Soldo account here using our referral link.
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