Track employee spending easily with Expense Management

Aaron Larsson

 · 08/15/2019  · 08/15/2019

Finding reliable tools and methods to track employee spending can be a challenge. With Revolut Business, ordering physical and virtual cards for team members takes seconds. Revolut Business makes it easy to keep an eye on your budgets, plus it allows your whole team to enjoy low fee spending around the world.

But, with great corporate card power comes great responsibility, and we all know how hard chasing receipts and processing expenses is. We’re talking about notifying forgetful team members and juggling between accounts, a separate tool for managing expenses, and another tool for accounting.

The potential for expense management to turn into one big ugly mess is high. That’s why we’re proud to introduce our new Expense Management tool to Revolut Business.

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Why this is a game-changer

We’ve made the process of uploading, approving, and tracking expenses as simple as possible for everyone involved, meaning there should never be another opportunity for a receipt to go MIA.

Even better, this new feature is already included with all Revolut Business paid plans.

For team members: easy in-app receipts

Spend, tap on the push notification, snap a picture of the receipt, done. All from the Revolut Business app. Filling in expense information has never been easier.

Too busy to do it now? No worries, we’ll send you a reminder later.

For the finance team: Review, approve or reject in real-time

As a business owner or finance admin, you’ll be able to track expenses as they happen, review them without having to juggle between different tools and decide whether to approve them or not. If you reject an expense, we’ll notify the employee that she needs to refund it and how to do it. That means less time on the grunt work and more time on what’s important.

For the accountant: It gets better with Xero

If you’re a Xero user, rejoice, because once you’ve synced Revolut Business with your Xero account, the categories and tax rates you’ve created in Xero will also be available in Revolut for the team to use. Once completed, all expenses will then be automatically posted to Xero. Paired with our existing account feed integration, this means all it takes is one-click to reconcile card expenses with little room for mistakes.

Not a Xero user?

Not a problem, because you can create your own categories within Expense Management, then export expenses as a CSV file. We’re also working to add more integrations with more accounting tools.

Accountability meets unprecedented control

As we always say, every penny counts when you’re growing a business. Receipts left unaccounted for can lead to books that are unbalanced, and Expense Management is here to solve that problem.

By bringing all of the essential parts of expense management together in one place, and giving business owners, managers, and accountants the ability to approve or reject expenses easily, we’re continuing to help your business to thrive.

Visit your Revolut Business account today to start exploring Expense Management.