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In this article we’re going to tell you exactly why Soldo’s app is the best choice when it comes to tracking expenses, but if you don’t want details and you’re just here for the headlines, then here they are.
So those are the basics of what Soldo does. It’s simple, secure, and efficient. Soldo’s business expense app makes things easier not only for business owners, but for employees too. To find out more about how Soldo can help you, read on for a comprehensive rundown of features.
When it comes to managing expenses, every business likes to do things differently. But there are lots of systems out there that make financial processes more complicated than they should be. Maybe you have to use one of those systems. Maybe you want your managers, directors and leadership to choose something better.
With Soldo’s business expense app and associated prepaid business cards, spending has never been more simple. Our intuitive mobile app has everything you could ever need, from automated expense tracking to digital receipt-capture. At Soldo we know what works and what does not, which is why our system is designed to make every step of the expense management process as streamlined as possible.
Everyday expenses can build up. If you’re travelling for work you’ll end up having to pay for all sorts: meals, hotel rooms, fuel, even laundry. Your finance managers will no doubt want you to keep track of these transactions, too, which is another plate to spin.
Traditional processes, such as petty cash and using company cards, are no longer suitable for the fast paced and digital nature of modern business. Having to keep hold of paper receipts for the finance teams to trawl through while they make sure that everything is exactly right is not the optimal way of handling business expense spending.
Related content: Soldo is better than a business credit card.
What you need is an effective business expense app. And this is where Soldo comes in. With Soldo, you won’t have to worry about keeping track of your spending, because it’s all done automatically. Transactions are logged in the Soldo app in real time. And better yet, you never have to spend your own money with the promise of being reimbursed later, because the Soldo system is completely prepaid.
One of Soldo’s most useful features is that all our cards are prepaid. This means that every card is loaded with a certain limit, either manually or on a rolling basis, and you can spend until that limit is reached. You can use our mobile app to check your balance and see all your purchases. This central hub makes processing expense reports much easier.
Unlike traditional corporate or business credit cards, which have a direct link to a bank account, every Soldo card is its own separate fund. Not only is this more secure, it makes it much easier to keep track of where the money’s going. So your boss can be safe in the knowledge that the company cash is secure, and you’ll be able to actually spend without having to ask for permission.
However, if you do need to ask for a top-up, for example if you’re out on the road and have maxed out your budget, you can make an in-app request for further funds which your boss can approve in a click. This is great for one-off purchases that may exceed usual budgets.
Is your workplace’s current expense reporting process painful? Do you have to keep hold of physical receipts so the finance team can reconcile them later? This is no way to do business. Soldo’s business expense app makes this all so much easier. You’ll never have to keep a paper receipt again.
Instead, when you make a purchase, simply:
You can even select a Xero category that the expense falls into, which makes life so much easier for finance teams, and will considerably speed up reconciliation processes. On the topic of making life easier, Soldo’s business expense app is not only perfect for employees, but employers will love it as well. On top of the features we’ve already mentioned, Soldo breaks spending habits down to an incredibly detailed level.
For example, management can view:
Such a granular degree of reporting means businesses can make decisions determined by the data, and ensure that financial plans are on track. Businesses are becoming increasingly digital, and it only makes sense for expense management to follow. Physical receipts are rapidly falling out of favour, and for good reason, so why not make the switch to a system that makes life more simple, not more complex.
If you often find yourself leaving the office on a business trip, you may well be familiar with fuel cards. They’re a popular way of managing fuel expenses, which many businesses prefer to separate out from other travel expenses. Soldo’s fuel cards at just £2 a month and, unlike traditional fuel cards, they can be used at any site in the UK, including methane, LPG, and electric car charging ports.
This means that you don’t have to waste time seeking out the refuelling stations associated with a specific fuel card brand. It also allows you to choose the provider offering the most competitive rates. And just like Soldo’s non-fuel cards, every transaction is automatically traced in the app, so you can always keep track.
Related content: What to consider when choosing a fuel card for your business
We’ve touched on it already, but it’s worth emphasising how simple Soldo can make bookkeeping. We have seamless integrations with many accounting software, including Xero and QuickBooks Online, meaning spend data can be sent across at the touch of a button.
And if you’re with any other software, that’s no problem at all. You can download all your spend data into an easily exportable format and transfer that into your chosen program. This means everyone saves time, from the finance team to the managers.
So, there are lots of processes that Soldo makes easier. In fact, from the point of purchase to the reconciliation, Soldo is designed with ease in mind.
Every Soldo plan comes with these central features:
Our mobile app is particularly useful when it comes to viewing spending as a whole and it’s an incredibly simple way of managing cash flow, for both employees and management. Signing up for an account is easy, and with no need for credit checks you could be up and running in no time at all.
Streamline your business finances by upgrading to Soldo today.
Soldo Mastercard® cards
Get as many cards as you need for employees and departments. Our contactless cards are accepted by millions of merchants worldwide.
Web console and mobile app
See spending in real time on the web console. View balances, capture receipts and manage cards on the employee app.
Accounting integration
Export transaction data to every major accounting software, in two clicks. Connect expenses to Xero and QuickBooks.
Free & unlimited transactions
Soldo Mastercard® cards have no fees for domestic transactions and our foreign exchange fee is fixed at just 1%.
No charge for deposits
It’s free to add funds, and money is available to spend instantly. Allocate funds to cards when your team needs it.
Dedicated support
Need a hand? Our friendly customer success team is at your service, providing support whenever you need it.
Access lower fees and save time spent on accounting by joining Soldo today.
Intuitive mobile app
With Soldo’s mobile app, on-the-go expense reporting has never been easier.
Remote top-ups
Cards can be topped up from anywhere at any time, so employees are never out of pocket.
Effortless bookkeeping
Seamless integrations with software like Xero and QuickBooks means spend data can be transferred in a click.
“When we switched to Soldo, it became obvious that it was quicker and more efficient. There’s a greater feeling of security; we have more confidence in Soldo than the traditional corporate credit cards.”
“Petty cash and reconciling credit cards took a total of 6 days a month. Now it takes me half a day. It’s saving us time! It’s got great flexibility and it makes my life a lot easier”
Choose a plan that fits the way your company spends. Apply in minutes, get going in as little as one working day, and cancel anytime.
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