The business expense app that will save time and money

Expense apps using Soldo’s prepaid system: TL;DR

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.

Soldo is a prepaid system that is designed to simplify the expense management process at every turn. We combine an intuitive app (for mobile or desktop) with physical prepaid business card or virtual prepaid cards. As many cards as needed can be assigned, and they have no direct link to a bank account.
The cards are topped up, you go out and spend, and every transaction is logged by Soldo. All you need to do is take a photo of your receipt, and Soldo collates all the spend data
Then when it’s time for the bookkeeping, Soldo’s integrations with accounting software like QuickBooks and Xero make the process easy. With the click of a button, data can be transferred from Soldo to your preferred software. This saves businesses time and money.

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.

Simplify expense management with Soldo’s mobile app

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.

The importance of expensing reporting

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.

Prepaid perfection

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.

Simple spend-tracking

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:

Take a photo of the receipt,
upload it to our app along with any relevant notes,
and Soldo does the rest.

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.

Full insight & control

With Soldo’s complete control over spending, management can view:

The highest spending cards,
Most used vendor, and most popular spend-categories among other metrics to improve spending practices within the business.

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.

Fuss-free fuel cards

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.

Accounts software integrations

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.

Switch to smarter spending

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:

Automated expense reports
Customisable spend rules
Capture receipts and VAT at the till
Accounting integration
Web console and mobile app

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.

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Apply online in minutes and start spending in as little as one working day

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“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.”

Mark Taylor

Director of Finance at Plymouth College of Art

“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”

Sandra Curran

Purchase Ledger Coordinator at Making Space

Apply online in minutes and start spending in as little as one working day.

No credit checks, no hidden fees, no fixed contracts. Cancel anytime.

1. Complete registration

We need to confirm your identity and address. Upload a few documents and you’ll be done.

2. Add funds

Load money to your account to order your Soldo card. Receive it in 2 working days.

3. Start spending

Shop online or instore safely with your contactless card.

Get started

Let’s find the right Soldo plan for you

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.

Bank-level security – FCA regulated & PCI compliant

Start

A basic plan giving you a taste of the Soldo platform.

£0per user/month

Up to 3 users and cards

Features include:

What’s included?

Features include:

Virtual or plastic cards for your employees
Set individual spending limits
Google Pay and Apple Pay
On-the-spot receipt capture
Xero, Sage and QuickBooks integrations
Accountant access for reporting

Pro

Get added flexibility to control funds and manage company spending.

£6per user/month

Minimum of 3 users

All of Start, plus:

What’s included?

All of Start, plus:

Choose between individual, team and fuel cards
Allocate dedicated funds to users
Standard approval workflows for one-off purchases
Single-use virtual cards for one-off purchases
Virtual cards for recurring payments including subscriptions
Advanced card rules to control spend
Review and approve expenses

Best for growing businesses

Premium

Get increased visibility, control and support for multiple currencies.

£10per user/month

Minimum of 3 users

Every feature from Pro, plus:

What’s included?

Every feature from Pro, plus:

Multi-currency: GBP, USD, and EUR
Customisable roles and permissions
Auto classify transactions
Custom approval workflows for one-off purchases
Organise your company in teams or departments using groups
Advanced reporting

Enterprise

For medium and larger businesses, that need customisation, flexibility and dedicated support.

Custom pricing Unlimited users and cards

Book a demo

All the benefits of Premium, plus:

What’s included?

All the benefits of Premium, plus:

Add as many users and cards as you need
Dedicated account manager and customer success manager
Custom onboarding and training
Access to APIs for integrations

These prices exclude VAT. The Soldo software platform is operated by Soldo Software Ltd. The emoney business account and payment services are provided by Soldo Financial Services Ltd and are subject to additional fees such as, card issuance, cash withdrawals and others. See all the financial services fees here, and the typical limits here.

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