An inside look: How Pleo makes your bookkeeping easier

Pleo is not just another company card.

Paired with the smart technology behind it, Pleo makes the whole process of company spending a lot easier for the whole company.

Employees are often the ones extremely delighted by the fact of not doing expense reports anymore. However, it’s our major focus to make sure the product not only fits the financial team’s needs and requirements, but also makes the bookkeeping and admin processes much more streamlined.

Most companies today have different setups of how they do expenses, but the finance teams often run into the same types of familiar problems. The reconciliation is done very manually. Chasing down employees for receipts is a drag. Sharing cards around the office creates a lot of mess for them.

We could go on (we did that in several blog posts, like uncovering the ROI of automated expense reporting) and talk about this in more detail. But in this blog post, we want to focus on how Pleo solves these problems instead.

How Pleo helps delegate spending

In the older days, corporate cards were reserved strictly for the managers. It made a lot sense, because getting them from banks was hard. It required a lot of paperwork and companies had very little control over the spending happening, so you had to rely almost solely on trust of your senior employees.

With Pleo, things are quite different. Using our award-winning compliance software, your company can get started in 10 minutes and all can be done via our online form – zero paperwork required.

Once your company is verified by our compliance team, you can invite in your team members using only their name and e-mail to order cards for them instantly and that’s it.

With the right person attached to the right card, it has become much easier to stay on top of company spending in detail. Instantly, you can also control the activity and limits on each card, with just a few clicks.

While everyone on your team can do company purchases when needed, with Pleo, your finance team will have more control than ever before. Setting up budgets is easier, and responsibility can be delegated to specific team managers.

How reconciliation is done instantly

Talking with our existing 3000+ companies, we realise that reconciliation is where Pleo provides a lot of value, by automating what was once a manual task for finance teams everywhere.

When a Pleo card is used, employees are instantly reminded with a notification to add and match the receipt of the transaction with their Pleo mobile app.

Not only that, the right category is assigned automatically, allowing employees to also tag the purchase with a custom tag that you can define beforehand to match your accounting records (or add a custom note to explain the context, if needed).

Tags can be anything from client or project names or codes, no matter what your setup is, Pleo will help you accommodate that.

All the data (receipts, transaction data, project codes, employee codes, tags, VAT codes) is in place and ready to be exported to your accounting software. Pleo integrates with a variety of different providers to make that as simple as possible. Below you can see just a few of them.

This means no more manual reconciliation at the end of the month, uploading receipts to your accounting software, collecting receipts or identifying unknown transactions without any context. All the data is now synced from Pleo to your accounting software directly, with just a few clicks.

And most importantly, no more manual expense booking and employee reimbursements.

How Pleo gives much better spending insights

With the each person attached to their own Pleo card, you can finally stay on top of all company spending in detail. Understanding the context of company spending is key here, compared to waiting for end-of-month bank statements.

This has several advantages. First of all, the risk of out-of-policy behaviour is drastically minimised, as suspicious transactions can be spotted in real-time and prevented with limits beforehand.

Secondly, getting ready for your financial audit becomes much easier as all data is the right place (see the activity trail of each expense above). This is important, as you will not be able to fully reclaim your VAT deduction with receipts missing – often a case in growing organisations with a big number of expenses.

And finally, having a full overview over spending across different teams, categories, projects, employees, and even merchants down to the details is available with the Analytics view.

This way, you can now have full overview of different spending patterns and get important insights for your future budgeting projections. No more guesstimates or preparing end-of-month reports.

So, what do you get with Pleo?

Pleo is an award-winning, out-of-the-box and complete company spending solution. It includes the cards needed for the whole organisation along with the software for the whole organisation to help you automate and streamline expenses.

Here is what is included:

☑️ Virtual & plastic Pleo cards
☑️ Web and mobile Pleo apps
☑️ Live customer support
☑️ Accounting integrations
☑️ User and team management
☑️ Real-time spending dashboard
☑️ Custom tags and category setup
☑️ Company spending analytics
☑️ Integrations with other tools
☑️ External bookkeeper access & view
☑️ Advanced fraud detection
☑️ Growing number of other features

Want to give Pleo a try?

The best way to get a good understanding of Pleo is by signing up for a free one month trial. This will enable you to try out Pleo cards, mobile and web apps and to best understand the benefits that we have described above.

If you want to see how this actually works before signing up, you can book a demo with one of our product experts. They will walk you through the product and answer any question you might have along the way.