Xero reconciliation is simpler with Soldo integration

payment receipt in GBP captured using Soldo's mobile expense management app

Simplify spending with Soldo and Xero

There are other options out there that could complement Xero, but often they don’t provide the same volume of features that Soldo does. For example, they may just be a service that collates and organises receipts. Soldo does this and much more.

First of all, let’s look into how Soldo works to provide all the information Xero needs.

Soldo is a prepaid card system, which means you can load certain funds onto any number of cards, assign them to individuals or teams, and feel safe in the knowledge that the budget you’ve chosen can’t be exceeded.

When employees are out paying for expenses with these cards, they simply use them as they would any other payment card, then take a photo of the receipt and upload it via the Soldo mobile expense app. Soldo then automatically generates reports in a web console using this data.

With soldo’s expense management dashboard, you can see every single one of these transactions as it happens, giving you detailed insight into company-wide spending and the full picture of your business’ expenses. And when it’s time to process these outgoings, that’s where our connection with Xero kicks in.

All the data that Soldo has collated can be transferred to Xero in a click, meaning you don’t need to overhaul your accounting process. In fact, your accounting process will be made easier, as Soldo eliminates the need for laborious manual data entry, and streamlines the journey from buying to bookkeeping.

How Soldo works

Soldo empowers employees and departments to spend company money more responsibly by giving them their own plastic or virtual Mastercard® cards. While an intuitive web console makes it easy to manage spending using customisable budgets and rules. The mobile app prompts staff to snap receipts at the point of purchase – so late, inaccurate expense reports are history. And Soldo automatically sends payments to Xero, sharing receipts (and much more) in just one click. See an overview of how it works.

Features that make a difference

Connecting Soldo to Xero streamlines your expense and reconciliation processes, and it’s a very simple process. All you need to do is log into Xero, connect to Soldo by selecting your account, and choose your preferred settings i.e. whether attachments are optional or required. It takes no time at all. Here are some of the features that make this partnership work:

Automatic bank feed

Soldo payments are automatically sent to Xero daily. So you always have an up-to-date view of your cash flow and can forget onerous manual statement imports.

Easy expense sharing

The Soldo mobile app captures receipts, lists and notes at the point of purchase. After validation, sending all that information to Xero takes one click.

Effortless reconciliation

With transactions and expense information painlessly imported into Xero, reconciliation only takes a click. Or, if you like, Soldo can take care of that too.

Connecting Soldo to Xero is simple

Once you’ve set up your connection, Soldo will automatically import categories and contacts from Xero. To set up your connection:

Log into Xero to connect Soldo

Connect

Select an existing Soldo bank account or create a new one

Choose

Choose whether attachments are required or optional

Start for free

Why Soldo is the perfect partner

Xero is a popular option for many businesses, but there are a few areas where Soldo can make it a more powerful tool. Perhaps the most obvious difference is that Xero isn’t made to actually pay for expenses. It can process them, but you need a system like Soldo to manage spending in the first place.

On top of this, some of Xero’s potential functionalities are extras you have to pay for. For example, the ability to claim expenses and the analytics feature are both optional add-ons. At best, you’re going to be paying an extra £7.50 per month to include these features.

However, the good news is that Soldo eliminates the need for these costs. Our solution does away with expense claims, because our prepaid system means that employees can spend without claiming. On top of this, spend analytics is an integral part of our platform, and you’ll get detailed insight into your spending without additional monthly fees.

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The best ratings across the web

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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, Plymouth College of Art

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, Making Space

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.

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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.

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Xero Expenses FAQs

What are expenses in Xero?

Xero has an optional expense manager function that costs £2.50 a month to add onto your existing plan. This allows you to monitor employee expenses and handle claims. Alternatively, just stick with Soldo, as this functionality is a key part of our plans.

How do I approve an expense claim in Xero?

Expense claims are found in the Business menu, and from there you can view all expense claims in more detail and either approve or deny them. For a simple way to manage expense claims (and, if you prefer, to eliminate them altogether) you can sign up to one of Soldo’s plans and start spending smarter.

How do you reimburse employees for expenses in Xero?

You can reimburse employees on Xero in the Payroll menu, under Pay Employees. Xero’s website goes into this in more detail, but it’s a process that takes quite a few steps, especially if you’re doing it for the first time. Alternatively, you can use Soldo’s prepaid cards so employees never need reimbursing but you remain in control.

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