An inside look: How Pleo makes your bookkeeping easier

You’d be forgiven for thinking Pleo is just another company card.

Powered by smart tech, Pleo makes the process of company spending easier for everyone - not just the finance team. It not only fits your financial team’s needs and requirements, but also makes the bookkeeping and admin processes much more streamlined.

Most companies today have different ways of doing expenses, but finance teams tend to encounter the same problems again and again: 

🥱 Reconciliation is done manually

🏃‍♀️ Chasing down employees for receipts is a drag

🤷 Sharing company cards is messy and hard to keep track of

We could go on, but here we want to focus on what Pleo is doing to solve these problems for companies of every shape and size.

How Pleo helps delegate spending

Back in the good old days, corporate cards were reserved strictly for managers. It made a lot of sense because getting them from banks was no mean feat (see: a tonne of paperwork).

With Pleo, things are a world away from that. Thanks to our award-winning compliance software, your company can get started in 10 minutes and everything can be done via our online form. Zero paperwork required.

Once your company has been verified by our compliance team, you can invite your team members using their name and email. Then all you need to do is order Pleo cards for them and you’re good to go!

With the right person attached to the right card, it’s so much easier to stay on top of company spending. As a manager, you can control the activity and limits on each card with just a few clicks.

With Pleo, your employees will feel trusted knowing they can order whatever they need for work, whenever they need it. And your finance team will have more control than ever before. As for setting up budgets, that’s simple, and responsibility can be delegated to specific team managers.

How reconciliation is done instantly

Chatting with our existing 30,000+ companies, it’s clear that reconciliation is where Pleo provides a lot of value. We’ve automated what was once a manual task for finance teams everywhere.

Here’s what happens when you tap your Pleo card:

• You’ll get an instant notification to add and match the receipt in your Pleo app.
• Your purchase will be assigned to a category.
• You can also tag the purchase with a custom tag (this might be a client name or code) to match your accounting records.
• Feel free to add a custom note to explain the context, if needed.

All the data (receipts, transaction data, project codes, employee codes, tags, VAT codes etc.) is in place and ready to be exported to your accounting software. Pleo integrates with a variety of different providers (like Xero) to make that as simple as possible.

This means no more manual reconciliation at the end of the month. No more uploading receipts to your accounting software or collecting handfuls of receipts. No more desperately trying to identify unknown transactions without any context. All the data is synced from Pleo to your accounting software directly.

And - most importantly - no more manual expense booking and time-consuming employee reimbursements!

How Pleo gives better spending insights

Each employee gets their own Pleo card, which means you can finally stay on top of all company spending at once. Understanding the context of company spending as it happens 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 is easier than ever as all data is in the right place (see the activity trail of each expense above). Remember that you wouldn’t be able to fully reclaim your VAT deduction with receipts missing – this is often the case in growing organisations with lots of expenses.

And finally, Pleo’s Analytics dashboard gives you a full overview of spending across different teams, categories, projects, employees, and even merchants. Right down to the details.

Get to know different spending patterns and gather important insights for your future budgeting projections. Goodbye guesstimates, so long lengthy end-of-month reports.

Hook Pleo up with Xero

The powerful integration between Pleo and Xero means you’ll be up and running in minutes. Once the integration is ready to go, Pleo will then:

• Automatically create bank accounts for your expenses
• Create a direct bank feed to make sure all balances are accurate 
• Allow you to pull in and map your chart of accounts from Xero within Pleo
• Enable easy and quick reconciliation of your expenses 

You can also import your Xero Tracking Categories, giving your expense tracking even more financial dimensions.

What does this mean for you?

Pleo is an out-of-the-box, complete company spending solution. Get all the cards you need for your organisation along with the software to fully automate and streamline your expenses.

Here’s what you’ll get:

☑️ Virtual & plastic Pleo cards

☑️ Web and mobile Pleo apps

☑️ Pleo Pocket for handling out-of-pocket spending

☑️ Pleo Invoices for paying supplier invoices in one place

☑️ Automatic spend categorisation

☑️ Accounting integrations

☑️ User and team management

☑️ Real-time spending dashboard

☑️ Custom tags and category setup

☑️ Company spending analytics

☑️ External bookkeeper access & view

☑️ Advanced fraud detection

Ready to give Pleo a try?

Start by signing up for a free one month trial. Try out Pleo’s cards, mobile and web apps and start taking advantage of all those handy benefits.

Want to see how it all works before signing up? Easy - book a demo with one of our product experts. They’ll walk you through Pleo and answer any question you might have along the way.