Expense Cards for Employees

Business Expense Cards for Employees - Wallester

Wallester helps companies manage and track their expenditures by issuing different business expense cards. With our platform, you can manage your business spending and ensure that your employees stay within the spending limits. Wallester is secured and the best choice for corporate bodies.

Therefore, if you need physical or virtual cards for your staff, Wallester expense cards for employees are the way to go. It has several benefits aside from expense management, and you can integrate it with several finance tools.

What Is a Business Expense Card?

As a company, managing your business finance well depends on your ability to track expenditures and running costs. Also, to seamlessly run your company and make payments, whether online or in physical stores, your staff needs access to funds. This is where business expense cards come in.

But what is it?

A business expense card is a corporate card charged to the company account. It allows employees to make purchases and payments on behalf of the company. However, the money spent must be within the ‘spend category.’ The latter refers to the expenses that the card was authorized for.

The business account manager sets the limit for each card’s expenses and tracks the spending. This way, you can reduce credit card fraud among staff members and fraudulent expense claims. In addition, most expense cards are prepaid and typically cover marketing and travel costs.

It is beneficial for companies to use expense cards for their transactions. For instance, these cards save time by making it easy to manage funds. Also, you can get them easily as most processes are automated, improving staff flexibility as they can access cash whenever needed.

How Does Business Expense Cards Work?

A business expense card puts the control in the hands of the company through the account manager. These customizable cards make tracking your business expenses and setting individual budgets easy. So, suppose you allocated €2,000 for travel expenses.

An employee with a business expense card cannot go over that amount. As such, they must create a budget based on the money allocated. This stops employees from spending company money indiscriminately and using it to make personal payments or purchases.

Furthermore, business expense cards allow companies to see transactions as they happen; you get immediate financial reports. With this reporting, there will be fewer issues of mysterious transactions that no one can account for. You will receive a notification when a staff member pays with an expense card in real time.

As a result, you no longer have to wait for physical expense receipts or the end of the month to review spending. Finally, these expense cards mean fewer stacks of paper receipts, making expense management easier and more effective.

How Wallester Expense Cards Can Help You

Wallester is an all-payment solution that offers physical and virtual cards for businesses. With the virtual card, you can transact on any online platform. Wallester expense cards are quick to get and you can create them in seconds.

You can use these cards to pay for online marketing ads like Google Ads, Facebook Ads, and other social networks. In addition, our expense cards give you an international bank account (IBAN) number, which allows you to monitor expenses, and gives convenient accounting subscription control. Using our all-in-one platform, you can also effectively regulate spending limits and manage your company finance.

By doing this, Wallester promotes business growth, facilitates financial management, and increases accountability. But this is not all! The are other unique ways having a Wallester expense card account can help you, which include the following:

●   Payment Approval: No more spending that cannot be traced, as you can confirm purchase requests from your staff.

●   Media Buying: You can instantly create cards to buy online ads.

●   Invoicing: Instantly upload your invoices using software for accounting.

●   Budget Management: You can use our integrated accounting service to manage your company budget effectively.

●   Reports: You will receive a detailed report on your corporate expenses. This way, you know those who exhaust their budget and those who stay below it.

●   Unlimited Physical Expense Cards: There’s no limit to the number of physical cards you can create with Wallester, and our innovative Application Programming Interface (API) makes the process fast.

Also, Wallester has the perfect API for your business, and you can customize it to your workflow. You can connect accounting apps to your account, which allows for better integrations. Finally, the settings are flexible; you can customize the work tools, and there’s a trial environment where you can test new features and solutions.

Finally, Wallester’s Open Banking API helps with budget amendments and instantly creates precise expenditure forecasts. So, if you want to get real-time payment and purchase information on your corporate expense cards, use Wallester.

Apply Online and Start Spending

Using Wallester to create expense cards is one of the market’s best options; doing so involves quick and simple steps. First, you have to apply online by creating an account.

To do this, click on the ‘Issue a Card’ icon, take the following steps, and provide the required details:

●   Enter your ‘Company Name’

●   Enter your phone number; the international code is already displayed.

●   Click the box beside the ‘I have read the Terms and Conditions and Privacy Policy.’

●   You will receive a six-digit code which you’ll enter, and then provide your email for two-factor registration.

●   Once you enter the second code sent to your email, you will get access to your account.

●   Next, verify your account by providing information about your company, cooperate documents, and identity verification. Once you are verified, you can start spending and gain access to the tools for managing your business expenses.

The two-factor verification is crucial as we take the security of your information seriously. Therefore, only use the phone number and email you can access. Setting up an account is free, and there are no monthly fees.

Also, you do not have to worry about the virtual card or physical card issuance fees.  Wallester has a mobile app, so all your activities don’t have to occur on our website. In addition, the free account plan gets you up to 300 virtual business expense cards and unlimited physical plans.

If you want additional virtual cards, you’ll pay €0.35 monthly per card. However, other options, called tariff plans, give you more cards and access to features. Click here to view the tariffs.

A Spending Control Solution

Unlike other business expense card providers, Wallester offers you full control over your spending. By providing our virtual and physical cards to your employees, you allow them quickly pay independently for corporate expenses while setting limits and tracking the transaction in real time.

Integrations With Your Finance Tools

With a Wallester account, you can integrate with your finance tools, like Quickbooks, Xero, Oracle, Kissflow, etc. This makes expense management more seamless.

Expense Cards for Employees

Making expense cards available for your employees helps you keep them accountable and within your spending budgets. With Wallester corporate business cards, it is easier to control and track your staff spending, create spending allowance, report and review expenses faster, and manage out-of-pocket expenses.

Get Started Now!

FAQ
Summarize the details of the transactions in the journal entry or accounts payable. Also, record the services or products paid for, when the transaction happened, the vendor or company’s name, and the purchase time. Ensure you include how much the expense card had before the payments, how much was spent, and the amount remaining. Take advantage of accountancy software to record business card expenses.
A credit card expense is a debit and liability transaction. You have a line of credit issued by the credit card company, which you pay back monthly. You must make the minimum payment monthly to keep using the card.
The answer to which is better is not straightforward. Expense cards are prepaid cards given by a company to its employees to make business-related expenses. Company credit cards are also issued to employees but are not prepaid. Instead, the company pays the debt incurred by the employees on the card. Therefore, your unique business needs ultimately determine the one you’ll go for.
No. Although Wallester caters to businesses and consumers, employee expense cards are for corporate organizations and their staff.
The free Wallester account gives you 30o virtual cards and unlimited physical cards. However, if you go with the tariff plan, you can get as many as 3,000 to 15,ooo virtual cards and above.
An employee can get an expense management card from their employer.
The first step is to freeze the card until it is found. However, if it is not found quickly, usually within 24 hours maximum, visit the Wallester website or use the mobile app to close the card. Then issue a new one.

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