Many care providers still rely on cash to buy daily essentials. Using petty cash makes it difficult to track exactly where your money is going. It can leave you open to loss, increase errors, and add hours of admin.
Soldo provides a safer, more flexible alternative with pre-paid cards. Make sure your team always have the funds they need and remove the risk of money going missing. Soldo lets you control the purse strings with easy spend controls and makes it easier for your team to spend.
High staff turnover is common in the care sector, and shift work is inevitable. When credit cards are assigned to individuals, teams often share cards to make essential purchases. This makes it more difficult to get complete visibility or accountability over spend. And when employees change, reconciliation can be challenging.
With Soldo you can give cards to those who spend regularly, or you can assign cards to departments instead of specific users. This means you don’t need to issue and destroy cards every time your team changes. You empower individuals and teams to spend while setting spending, category, and time-based rules to keep control and visibility over every purchase.
Overseeing multiple homes and service users makes managing spend even more complicated. Moving petty cash around is time-consuming and inefficient for carers when they are out on the road.
Switch petty cash for Soldo cards and distribute funds between carers, homes, and departments – without the complications. Set custom rules for each card and decide who can spend what, and where.
“Soldo was an absolute godsend to us. Typically, I’d have gone to the bank at the start of the week, withdrawn cash, and issued it to houses individually. A manager would then have to come to sign for it. Now I can log on to…”
“Our finance admin manager has never been happier”
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With Soldo, you control all business spending and – thanks to the integration with your accounting system – you can reconcile expenses quickly and easily. You can equip some or all employees, entire teams, or even external collaborators with Mastercard® Soldo cards , deciding who has access to company money and the rules by which to spend it.
No. Soldo provides additional spend management features that work alongside your business bank account, instead of replacing it. You can use your Soldo cards to separate staff spending from your main company funds, as well as accessing powerful new features that aren’t available with a traditional business bank account.
Soldo Financial Services Ltd is an electronic money institution, authorised and regulated by the Financial Conduct Authority under the Electronic Money Regulations 2011: this means we have to follow strict compliance processes. We don’t lend or take risks with customer money, we access it solely to execute the customer’s transactions. Client funds are always protected, as they are completely independent of Soldo’s business accounts and assets. The funds are safeguarded under UK Electronic Money Regulations 2017 and cannot be claimed by Soldo creditors.
Yes, Soldo integrates with all major accounting systems. Soldo has the world’s most complete API connection to Xero, sending transactions daily via an automatic bank feed. Our seamless integrations with Xero, QuickBooks Online and NetSuite also make it easy to share enriched transaction data including receipts, categories, notes and much more – in just one click.
If you’re using another accounting platform – like Sage, FreeAgent or many others – Soldo makes it easy to export transaction data in a variety of formats, in two clicks. Transaction data can be exported in XLSX, CSV, QIF and OFX formats, making your data compatible with all major accounting software solutions.
Soldo isn’t just for small business, it’s for all business. Soldo scales from one card to any number, matching the structure of your organisation with wallets for departments or individuals, which fund cards for teams, employees or contractors.
Though our software is intuitive and easy to use, powerful reporting is made possible by smart filters and granular transaction data. So, whether your business has two employees or 20,000, Soldo can help you gain visibility and control over spending, while simplifying expenses and helping you gain the advantages of financial planning in your business.
We’re sure you’ll be happy with our service, joining thousands of satisfied businesses. But if you ever want to leave, you can close your Soldo account at any time and all the funds available on your account will be transferred back to the account from which they were initially deposited.