Create an expense policy that works with Soldo
A written expense policy is all well and good, but with Soldo, you can take it from the page and put it into practice.
Soldo is a multi-user expense platform made up of a payment card, mobile app and web console. Together, they save you time and money at every stage of the expense management process. You’ll be able to watch payments as they happen, navigate paperwork and admin, and gain insights which you can use to make your business run more smoothly.
The prepaid card
Soldo’s prepaid card helps employees buy what they need, and gives the finance team oversight of what’s being spent.
By adding unique spending conditions to each card, you can make sure team members only ever spend what’s permitted by your policy. You can set daily, weekly or monthly limits on the amount they can spend, for example, or rules about where and how frequently they can use the cards. There’s also no limit to the number of cards you can hand out to your team.
The mobile app
Once they’ve made a payment, cardholders can take a photo of the receipt in an app, so there’s no need to hang onto them.
This means there’ll be no more disputes about unrecompensed cash if receipts go missing. Your employees will be compensated just as the policy specifies. Plus, with real-time in-app updates, they’ll always be up to date on how much they’ve spent and how much is left on the card.
The payment control console
This is where you can make sure your employees adhere to the policy you lay out for them.
You’ll be able to review every payment your team makes in real time, and then browse them by transaction type, cardholder and more. You can also add rules and limits to each card to keep them within your company’s parameters, make free and instant fund transfers to make sure they can spend what they need, and block cards if you notice anything suspicious.
But our web console does more than just increase your control.
You can also use it alongside the most popular accountancy apps, from Xero to Quickbooks, to create in-depth reports. Once you have done, you’ll be able to react to your company’s actual spending habits, and tailor your employee expense policy to fit your own business.