Expense management tool provides same benefits as daily settlement >>
by: Harvey Chipkin
Expensify, the expense management provider, has added a monthly payment option for its Expensify Card and Expensify CPA Card program. The two options are now:
• Monthly settlement (new) - Purchases across all cards are grouped by month, and payment is automatically withdrawn from bank accounts once a month. This is for companies that carefully manage cash flow and need a little extra credit to finance operations.
• Daily settlement - Purchases across all cards are grouped by day, and payment is automatically withdrawn from bank accounts every day. This is best for high spend companies that want to "turn over" their credit limit faster. Whatever the option chosen, said the company, Expensify Cards:
• Cost nothing - In addition to spending on the Expensify Card, users can track mileage and reimburse receipts.
• Synchronize daily - Purchases flow into accounting packages (QuickBooks Online, Xero, Intacct, or Netsuite) seamlessly on a daily basis, so books will always reflect the latest spend data ensuring users always have complete visibility.
• Are physical and virtual - Not only do users get a card for their wallets, but they get a virtual card to go with it. Provide up to 4% cashback - sent straight to bank accounts every month.
• Offer automatic charitable donations: Every card swipe offsets purchases with a donation to Expensify.org.
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