We’re excited to announce that you can now integrate Soldo with Microsoft Dynamics 365 Business Central to make your bookkeeping effortless.
“At Soldo, our goal is to simplify tasks for our customers. Recognising that many of our users rely on Microsoft Dynamics 365 Business Central, we’ve integrated the two platforms, accelerating the reconciliation process and enhancing financial reporting and analysis.” – Martina Paolicchi, Integrations Product Manager at Soldo
This integration is available on Soldo Pro, Premium and Enterprise plans today at no additional cost.
Soldo’s direct connection to Microsoft Dynamics 365 Business Central syncs your expense data for accurate accounting and easy reconciliation.
Save time and effort: Sync your Soldo expense data to Microsoft Dynamics 365 Business Central in a single click. This integration seamlessly transfers financial information without the risk of human error.
Speed up month-end: Close your books faster with the data you need for easy reconciliation. The Soldo mobile app captures receipts, lists, and notes at the point of purchase. Validate and effortlessly send this data to Microsoft Dynamics 365 Business Central.
Improve accuracy: Eliminate the risk of manual data entry errors for hassle-free, accurate reporting. Make more informed decisions based on precise, real-time financial data.
To connect Soldo to your Microsoft Dynamics 365 Business Central account, simply log in to Soldo and look for Microsoft Dynamics 365 Business Central in the search box of the Marketplace section.
Next, select Microsoft Dynamics 365 Business Central and authorise the connection. Then, choose whether you want to export transactions to Microsoft Dynamics 365 as journal lines or purchase invoices. And you’re ready to go!
Connect today for seamless and accurate financial reporting with Soldo and Microsoft Dynamics 365 Business Central.
For more information, speak to your Customer Success Manager or read though our FAQs.
Today we’re excited to announce Soldo’s new collaboration with Amazon Business.
At Soldo, we saw that our customers were processing thousands of transactions with Amazon Business. So we set out to make it a process that’s even easier to manage.
The new Soldo and Amazon Business integration automates the retrieval and reconciliation of Amazon Business invoices to eliminate errors and save your valuable time.
This integration is available on Soldo Premium and Enterprise plans today at no additional cost.
“At Soldo we’re always looking for ways to save time for our customers. When we reviewed all the transaction data on our platform, it was clear that Amazon Business is a top merchant for our customers and having a seamless integration will add a lot of value.”
Martina Paolicchi, Integrations Product Manager at Soldo
When Amazon Business generates an invoice for one of your purchases on the platform, the invoice will automatically be sent to your Soldo account. Soldo then matches the invoice to the transaction, and reconciliation is done for you. Month-end made easy!
To unlock this time-saving integration, simply activate the Amazon Business integration in the Marketplace section of your Soldo account.
For more information, you can speak to your Customer Success Manager or read though our FAQs.
In speaking to our customers, we know two things to be true:
That’s why we’re excited to introduce Soldo’s new mileage reimbursement feature, designed to make mileage claims and reimbursement easy and accurate for everyone involved. With this new feature, our customers can simplify business spending even further, managing every type of expense in one platform.
Here are some of the main challenges that have influenced our approach to mileage at Soldo:
Using the Soldo Mobile App, employees can now add business trips and vehicle details in just a few taps. Soldo then automatically works out the reimbursement amount.
Here’s the best part: Soldo integrates seamlessly with Google Maps. Simply add your trip and vehicle details, then let Soldo calculate the distance for you. No more manual calculations.
As an Admin, you can set default mileage reimbursement rates for various types of vehicles in Soldo – without being limited to a one-size-fits-all approach. Customise your rates by country, vehicle category, or even specific vehicle for advanced control and complete accuracy.
This level of customisation ensures that every mileage reimbursement is fair. An SUV isn’t the same as small-family hatchback, so why should they all be reimbursed at the same rate? With Soldo, you can configure the most common vehicle types and corresponding reimbursement rates.
Now, you can review and approve mileage reimbursement claims just like any other expense in Soldo. Managing every type of expense in one platform means you save time by streamlining and automating your processes.
No more jumping around between different systems or approaches to manage different types of expenses. Do it all in Soldo.
“I’m excited about the launch of our mileage reimbursement feature. This is a common business expense that our customers have asked to manage in Soldo, and from today they can. We’ve made it easy for employees to submit mileage claims and for finance teams to make sure that reimbursement is accurate and fair.” – Sarima Opara, Senior Product Manager, Soldo
The mileage reimbursement feature is available on our Premium and Enterprise plans. Get started today!
If you’re an Admin:
If you’re an Employee or an Approver:
For more information, speak to your Account Manager or take a look at our FAQs.
We’re excited to announce that customers on our Enterprise plan can now integrate Soldo transaction data into SAP Concur. This provides a better way to give employees access to company money, with trust and control, while keeping tabs on finances within SAP Concur.
Monthly financial admin doesn’t need to be a chore. This integration automates the data transfer process, which saves your finance team the time and effort they’d normally spend copying data between systems. It also reduces the potential for any manual input mistakes, giving you confidence in your data and reporting.
This integration brings together the spending power and control of Soldo Company Cards with the finance management capabilities (such as invoice management) of SAP Concur to deliver a unified experience.
Empower your employees, give them a Soldo Company Card
Employees shouldn’t be expected to use their own money for business purchases. This integration gives companies who use SAP Concur a way of giving their employees access to company money while maintaining control and oversight over spending.
Improve accuracy and prevent errors
You can now automatically see your Soldo transaction data in your SAP Concur account. Instead of having to manually input data, which is open to the potential of inaccuracies and human error, you have automated, reliable data ready to use at your fingertips.
A single, consistent and accurate view of your expense data
It can be tricky to keep track of employee and business spending when you have to switch between lots of different systems and data sets. This integration allows you to create a single source of expense data truth, so you can keep track of spending in one place.
Speed up your reporting
Sync Soldo transaction data with your existing SAP Concur account to give you all the financial data you need for monthly reconciliation. This also helps with detailed reporting and spend analysis so you can identify key trends and patterns as well as opportunities for cost saving.
Joining Soldo with your SAP Concur account, via Bank Feed integration, is simple:
If you need help getting set up, we’re happy to support you through this process.
Please note that exported transactions will be assigned to the corresponding employee based on their employee ID specified within Soldo.
Now that you know how this integration can support you and how to sync the two platforms together, it’s time to get connecting! For more information, speak to your Customer Success Manager or take a look at our FAQs.
In line with other integrations launched last year, we’ve recently added Exact Online to our list of accounting software partners.
As an Exact Online user, you are now able to sync expense data from Soldo with Exact – your accounting software. The ability to upload documents, receipts, and notes in a click will save your team a lot of time and hassle, and free them from manual expense chores.
To connect Soldo to your Exact Online account, log in to Soldo and go to ‘integrations’. Here you will find the option for Exact Online. Next, click on ‘Add Integration’.
The Soldo and Exact Online integration exports spend data such as receipts, invoices, categories, and notes in a click – saving you time, improving your bookkeeping accuracy, and presenting a consolidated view of your cash flow.
This integration means we handle your payment reconciliation automatically. Every card payment is pushed to Exact Online as a purchase, and instantly reconciled with its payment. Communication between Exact and Soldo is seamless – you don’t have to break a sweat.
Make the most of your time with your accountant by focusing on value-add tasks. This integration ensures that employee and company expenses are booked into your Exact software easily and without delay – pre-categorised, under the appropriate ledger/creditor, necessary attachments included. Your accounting team won’t need to send those dreaded emails asking for receipts, and you won’t have to receive them.
Avoid the pain of finding someone has made a manual input error, and get precise and detailed data automatically instead. Syncing all your expense information with your accounting system means no manual input – putting an end to gaps in your data or mistakes such as repeated entries.
Get real-time reporting on expenses, costs, and incomes, so you can maintain balance. With this integration, you get an in-depth view of everything that needs accounting. Seeing all your spending data in one place will enable better reporting and analytics – and therefore better, more accurate forecasting. You can stay on top of your finances while moving the business forward!
Now that you know how to sync the two platforms and what this will mean for you, let’s get the ball rolling.
Log in to Soldo, link your Exact Online account, and streamline your accounting!
We’ve got some exciting news! After a lot of careful thinking and hard work behind the scenes, we’re thrilled to have launched a shiny new range of Soldo plans.
In this article, we’ll cover everything you need to know about our new plans, including:
Before we dive in though, we wanted to make two things very clear.
Firstly, these aren’t just new plans for new customers. All existing customers can move straight over to a new plan – whether that’s a simple old-to-new switch or an upgrade to the next plan level.
And secondly, you can find even more detailed information about our new plans by heading over to the dedicated FAQs page on our website.
We’ve launched new plans for a simple, yet crucially important, reason: to better serve your needs.
As a business, we’re committed to continuous improvement and constantly evolving to meet our customers’ changing needs. Our new plans are designed to give you even more value and the best possible experience from Soldo.
The plans include a range of exciting new features (more on these below) that put you firmly in the driver’s seat. Advanced control means managing all your company and employee expenses in one place – increased flexibility means doing that in a way that suits you and your business.
No more messy switching between systems and spreadsheets. From splitting payments into multiple transactions and managing out-of-pocket expenses, to identifying and controlling out-of-policy spending. Everything you need to oversee every business expense, ready and waiting for you in Soldo.
Importantly, all of the new and improved features we roll out now and in the future are exclusively available on our new plans…watch this space for outbound transfers coming early 2023.
The new features we’ve launched (and the adjustments we’ve made to existing ones) better reflect the needs of our customers today. And that’s just the beginning of a whole roadmap of features that we’re rolling out exclusively for our new plans in the coming months – and long into the future.
With these features, our new plans unlock a truly end-to-end, integrated company spend and employee expense management experience.
To get a better idea of what that means in practice, let’s take a look at some of the features exclusively available on our new plans as well as a few key adjustments.
Spotlight on our new Pro plan
When you move to our new Pro plan, you’ll get:
We’ve made a few adjustments to make sure the features are better aligned to each plan. For example, transaction reporting and auto-tagging will now be available from our Premium plan level.
Spotlight on our new Premium plan
Our new Premium plan includes five cards for subscription/online ads and 10 temporary virtual cards for pre-approved spend per month. You can add between three and 30 users, each with their own card included and up to 40 cards available.
The best part about moving or upgrading to a new Premium plan is exclusive access to our full expense management suite, meaning you can:
On all our new plans
You’ll pay a monthly fee on our new plans. This is based on the number of users on your Soldo account, instead of the number of cards. Monthly fees start from a minimum of three users and every user has a card included.
Check out our pricing page for all the details.
You can move to a new plan right now in four simple steps:
When you move to a new plan, we’ll make the change immediately, starting from the current billing period. If you decide to move to a different plan at any time after 24 October 2022, only our new plans will be available.
We recommend moving as soon as possible to start getting the most value from Soldo. You’ll instantly unlock your exclusive access to new and upcoming features only available on our new plans.
Log in now to get started or head to our pricing page to choose the best new plan for your business.
We’re introducing new features to help you oversee more of your spending and save even more time. Our new Expense Management functions allow you to manage and track out-of-pocket expenses, set up policy limits, categorise expenses, split single transactions, and download reimbursement reports.
In a recent article, we highlighted that in many businesses, expense management processes are still rudimentary and rely on employees paying out of pocket, filling in template spreadsheets, and submitting their receipts at month-end. These processes are slow and manual, and create a number of problems:
Human errors – Employees must enter information manually, so it’s easy to make mistakes. They might put transactions in the wrong categories or enter the wrong values.
Slow submission – When employees are asked to enter data themselves and store receipts for reconciliation, finance teams often need to chase up information to get a complete picture.
Inconsistency – Manual processes make it difficult for department and line managers to follow company policy consistently.
Lack of transparency – As spend management submissions are manual, piecemeal, and infrequent, it’s difficult for CFOs to get full visibility of spending across their business.
We’ve introduced new features to save you time and effort and give you even more flexibility to manage your expenses in a way that suits you.
Employees often need to pay for business-related expenses with money or their own card. For example, a taxi might only accept cash, or they may have forgotten their company card. This can leave teams struggling to coordinate different kinds of payments that need to be managed in different systems.
Take control of every expense, all in one place
With Soldo, you can capture out-of-pocket expenses as well as those made with a Soldo card. That means you can track and manage all your expenses in one platform.
Company spending policies outline what employees can spend on and how much. Having a transparent spending policy saves employees time (as they don’t need to go looking for information) and ensures a fair and consistent approach between individuals and across different teams or departments. Relying on manual processes can make it difficult for managers to find and follow the agreed rules.
Set up spending policy profiles to align your spending with agreed rules
With Soldo, you can set up spending policy profiles. This allows you to mirror your spend limits, and other restrictions, in your Soldo account. Instantly highlight transactions not in line with company rules and run reports with out-of-policy transaction amounts.
Real business spending isn’t always straightforward, and employees regularly need to cover costs for other people. For example, if colleagues have shared a meal or if one person has organised travel or tickets for a group. Manual processes make it difficult to manage these more complex transactions where the total amount can’t be attributed to a single employee.
Split transactions for more accurate reporting
Our new feature allows users to split single transactions into multiple transactions so that different amounts can be attributed to different people. This ensures that individuals don’t exceed their spending limits if they’ve paid for other people and finance teams get more accurate spending information.
When employees make purchases with cash or personal cards as well as company cards, manual processes make it difficult to categorise which transactions are company expenses and which are personal expenses.
Spend categorisation gives an accurate view of spending
With our new features, Admins can create custom rules that allow users to categorise their expenses by MCC or classify each transaction as a company or personal expense.
Out-of-pocket expenses mean reimbursements. With manual processes, these can be slow. This leaves employees without personal funds, which can put a strain on their finances and build resentment.
Create reimbursement reports and repay employees in good time
With Soldo, it’s easy to create reports that outline the funds that need to be reimbursed to employees, which makes it easier to get payments out quickly. Admins can also run reports to highlight out-of-policy spending amounts, so they know what payments need to be charged.
Our new expense management features make it easy to review and track all your business expenses. Manage out-of-pocket expenses, set up spending policy profiles, and easily split and categorise transactions for more accurate reporting – all in one place.
See our pricing section to understand what’s included in your plan.
Log in to your web console and simply click on “Expense review” on the left-hand menu to start your set-up.
Our new Pre-approved Spend feature is replacing Purchases, so you can create temporary virtual cards that cover more than one transaction. Get better flexibility, visibility, and control over even more expenses. Here’s how and why temporary virtual cards will benefit your team and your business.
As we face continued economic uncertainty, it’s vital that businesses can act quickly and flexibly to keep projects moving and teams working effectively. Wasting time waiting for approvals for vital equipment, software, or subscriptions just isn’t an option.
That’s why we’ve upgraded our single-use virtual cards to give businesses more control over exactly how they spend. Our pre-paid temporary virtual cards allow individuals, projects, or teams to make purchases for 7 days after they’re activated, up to a pre-approved spend limit. And the purchase limit can be set between 1 and 10 transactions. This unlocks flexible short-term spending for expenses like business trips, courses, or training. And we’ve made the approvals process quicker and easier to use and customise.
Every employee, project, and department needs to spend, but it’s not practical to give everyone a company card. That can leave teams wasting time sorting expense claims after paying out of pocket, when they’ve got more important work to focus on. And waiting for approvals, even for very small amounts, can leave individuals unable to work without vital equipment or software. Projects stall and work grinds to a halt.
To get round lengthy approvals processes, individuals are often forced to borrow cards to make ad-hoc, last-minute purchases. This creates unnecessary security risks and can quickly get out of hand. Card details can easily fall into the wrong hands, both inside and outside your business. With online payments on the rise, card-not-present fraud, where scammers try to make transactions with card details rather than a physical card, is also becoming more of a threat.
When employees share cards, it’s impossible for finance teams to know exactly who has spent what and why. This makes it difficult for them to allocate budgets, forecast future spend, and reduce duplicate or inefficient purchasing. Creating granular reports that break spend down by individual, merchant, or purchase type help businesses take control of their spend.
Temporary virtual cards are part of the new Soldo Pre-approved Spend feature that allows you to manage all occasional spending requests in real-time.
Using your existing request and approval process in Soldo, you can now create a pre-paid virtual card with a set budget in seconds. Each card expires 7 days after the activation date and issuers can set a transaction limit – between 1 and 10 transactions. When you create a card, Soldo generates a new card number which is destroyed when the card expires. This card data is securely stored in one place and can only be accessed by the issuer and the user so there’s no risk of it falling into the wrong hands.
Our new Pre-approved Spend feature is replacing our Purchases tool. With Purchases you could create a one-off card number for a single transaction. But with Pre-approved Spend, you decide the spend and number of transactions (between 1 to 10) an individual or team can make, while they can spend more flexibly. Temporary virtual cards are ideal for employees who need to make a few purchases over 7 days. For example, covering ad-hoc expenses during business trips, training courses, or events.
Temporary virtual cards cut the time and effort employees need to spend making, chasing, and approving spend requests. The dedicated approvals workflow allows teams to request and manage both single and multiple payments. It’s all done in one system without the need for paper expense forms, back-and-forth emails, or sharing corporate cards. And requests are routed to the right person at the right time, so employees don’t waste time waiting for spend approval.
Instead of limiting spending to a select few employees, temporary virtual cards allow anyone to spend without increasing the risk of fraud, over-spending, or misuse of company cards. While employees, teams, and projects are empowered to make the purchases they need to keep your business moving, finance teams keep control of what’s being spent. And everything is done in real-time via the employee expenses app and dashboard.
Strong Customer Authentication (SCA) prevents anyone but the requester from using the temporary virtual card details, and the card is destroyed once the transaction is complete.
Paying with Google Pay is fast, convenient, and safe all at once – and you can now make the most of it with Soldo.
Need to pay for last-minute important event materials or hop on in a taxi for an urgent meeting? You can leave your wallet and your Soldo card at home, and you’ve still got it covered, with Google Pay.
You can now use Google Pay to make in-store payments anywhere that accepts contactless, and online or in-app payments wherever you see the signs below with your Soldo user card.
Paying with Google Pay is also incredibly secure; Google Pay never shares your card details with merchants. Instead, Google Pay creates an encrypted virtual account number that is shared with merchants when you make an in-store payment – giving you peace of mind and an additional layer of security!
You can add your physical or virtual Soldo user card to Google Pay by manually entering your card details or via the Soldo app. Here’s how you do it.
To add your Soldo user card to Google Pay via the Soldo mobile app follow the below steps:
Step 1: Log in to your Soldo app and go to ‘Cards’
Step 2: Select the card you want to add to Google Pay
Step 3: Tap ‘Add to G Pay’ and follow the instructions to get set up!
Alternatively, to add your Soldo user card to Google Pay manually. Once that’s done, you’ll be ready to use Google Pay with Soldo. Google Pay is available to use on multiple devices including your Android phone, smart watch, and tablet.
Log in to your web console and head to the ‘Cards’ section to check if your card is compatible with Google Pay.
If your current card isn’t compatible, you can easily replace it with a new card. Get in touch with our customer support team or follow the steps via the web console to get a new card enabled for Google Pay.
You can now validate your employees expenses made using a Soldo card using our new expense review functionality.
We all know the headache of waiting until the end of the month to review expenses and approve or deny payments made by your teams.
It’s a hassle to manually collect expense reports and chase colleagues for receipts (some of which have probably gone missing). And there’s no joy in populating Excel files or printing expense notes and rifling through receipts.
There’s also the problem of time. Checking and approving expenses one by one burns hours.
But with our new expense validation feature, you can consign these challenges to history. Here’s how:
When a payment has been made on a Soldo card, you can review it and approve it if it complies with your spending policy. If it doesn’t, you can request more details from your employee about the expense to help you decide whether to approve or deny it.
Forget the eternal struggle of chasing expense reports manually. Just review and approve spending as it happens on your Soldo cards, then request missing details in a few clicks – so expense reports are done right away.
With this new functionality, you can allow line managers to review and approve their team’s purchases so they can stay on top of spending, with distributed control for more autonomous teams.
Log in to Soldo and click on ‘Expenses’ on the left sidebar menu to set up the new expense validation feature.