Employees’ business expenses often cause a great deal of inconvenience: advance costs, receipts, expense claim forms, approval and reimbursement. This is often an error-prone and complex process for all involved. The Spend Cloud’s Cash & Card module makes the hassle involved with all these business expenses a thing of the past.
The way Cash & Card works is very simple: employees are given payment cards that are fully controlled by the organisation itself. This means greater freedom and convenience for employees and greater control and oversight for the organisation. Whether it concerns a two-day business trip or lunch expenses during an outing with clients, Cash & Card is the solution.
The advantages of using Cash & Card for business expenditure
- Full control of business expenses: bank cards can be fully managed by the organisation itself. That way, the organisation has control over all business expenses: the name, available budget, PIN codes and withdrawal limits, everything can be changed as desired in real-time.
- Direct insight into business expenses: whereas expenses previously only become clear once claimed, payments are processed in the financial package straight away with Cash & Card. This offers real-time insight into all business expenses.
- Less hassle for employees: employees no longer need to advance any expenses. Filling out expense claim forms and waiting for reimbursement is also a thing of the past. It is also very easy to upload receipts straight away via the app.
- Card, cash, or iDEAL: with Cash & Card, payments cannot only be made by card. Cash & Card offers a solution for whatever stage your organisation is at, whether you are ready to go completely cashless, or you still have a lot of cash in circulation. All business expenses immediately go into a single summary regardless of payment method.
Cash & Card, how does it work?
It starts with a request for payment cards for employees and teams. You decide the name and balance on the card. There are three ways to upgrade the cards:
1. Periodically: a recurring upgrade, which can be scheduled according to preference.
2. Manually: upgrade the balance any time.
3. Ad hoc: the Spend Cloud automatically adjusts the balance as desired.
The balance and the changes are always displayed in real-time in the Spend Cloud.
If a payment is made with the payment card, the Spend Cloud automatically logs the entry in the correct bankbook.
If a payment is made in cash, the Spend Cloud automatically registers a withdrawal on the corresponding account. That way, transfer of entries from cashbook to ledger are visible in real-time and they always correspond. Proof of payment for cash or card payments can always be uploaded easily via the app.
In addition to cash and card payments, iDEAL can also be used for expenses. The ProActive app is used for this. A normal iDEAL payment can be made in the chosen webshop by selecting bunq as the bank. A QR code then appears, which can simply be scanned with the ProActive app. Once a payment has been made, the balance is updated in real-time.
When coding card or cash expenditure for accounting purposes, the Spend Cloud helps enter the correct entry in the digital cashbook. The Spend Cloud’s intelligent filters automatically allocate transactions to the right cost classification. Proof of payment can simply be uploaded via the app
After processing, the digital bank or cashbook automatically goes to the responsible person for approval. If both the expense and the justification are approved, the entries can be logged in the financial package with just one click.
The central administration can view the progression of the periods. They can see outstanding bankbooks with the periods for which entries are outstanding, as well as the periods being processed. Here, they can also view closed bankbooks that are awaiting approval, are ready for export, or have already been processed in full.
Cash & Card in the Spend Cloud
The Spend Cloud is a complete solution containing five different functionalities to control all business expenses. You decide which functionalities suit your organisation, at what time.
The Procurement module streamlines the procurement process and offers control over employees’ ordering habits. Combining the Procurement module with the Invoicing and Contract Management modules gives you control over the whole Purchase-to-Pay process within a single Spend Cloud.Read more about Procurement
The Spend Cloud’s digital invoicing gives your organisation insight, oversight and control over this time-consuming process. Combining the Invoicing module with the Procurement and Contract Management modules gives you control over the whole Purchase-to-Pay process within a single Spend Cloud.Read more about Invoice Processing
The Contract Management module makes managing contracts simple and clear. Unwanted contract extensions are now a thing of the past. Combining the Contract Management module with the Procurement and Invoicing modules gives you control of the whole Purchase-to-Pay process within a single Spend Cloud.Read more about Contract Management
Cash & Card
The Cash & Card module is part of the Spend Cloud. With the Cash & Card module, the organisation uses payment cards that are fully controlled by the organisation. This makes management of employees’ business expenses simple and clear. By combining the Cash & Card module with other modules, the organisation’s entire expenditure flow can be managed in a single Spend Cloud.Read more about Cash & Card
The Expense Claim module makes claiming expenses a clear and streamlined process. Combining the Expanse Claim module with other modules in a single Spend Cloud enables central management of all expenditure streams.Read more about Expense Claims