Product Education

Get export-ready faster with Float’s Accounting Workboard

Save on time and unwanted spend each month-end as you close the books.

January 23, 2024


In 2023 we launched our new Accounting Hub for customers – a central spot to streamline their month-end process within Float. We introduced Transaction Exports to give finance teams easy-to-use workflows to export their transactions to their accounting software at scale. And we’ve seen the results! In our recent survey Float customers have reported closing their transactions and reimbursements up to 8x faster at month-end

To keep the momentum going, we’re bringing a new Accounting Workboard to the hub – a dynamic view of your transaction review process with intelligent and personalized tips to help you close faster. 

Float’s Accounting Workboard is where accountants and controllers can go to track their progress closing the books and spot unusual transactions quickly. With personalized insights, Float helps you save on time and unwanted spend each month as you gear up to transfer transactions to your accounting software. Read on to learn what’s new in Float’s Accounting Workboard.

✅ Track Transaction Export Progress

Your progress bar at the top of your Accounting Workboard visually shows you how many of your transactions for a given close period still need to be confirmed, are ready to be exported, or have been exported to your accounting software. In a simple click you can dive into a list of each transaction group.

You can also click to see a list of non-compliant transactions (ie. transactions that aren’t compliant to your company’s unique Submission Policies). This is especially helpful as you gear up to export in bulk at month-end!

🖱️ One-Click Compliance Filtering

We’ve also made it simple and quick to filter your non-compliant transactions. With a single click you are able to access lists of transactions that are:

  • Missing receipts
  • Missing a GL code
  • Missing a tax code 

Sometimes things slip through the cracks and employees need an extra nudge to upload their receipts before you finish your transaction export. After clicking your list of transactions missing receipts, you can filter further by Spender or Manager. You can then select all the non-compliant transactions belonging to an individual employee or perhaps a team, click ‘Copy transaction links’ and send it to them or their manager with a direct link for them to action on! If all looks well (eg. small coffee purchases that don’t need a receipt), you can also mark transactions as compliant, so they’re ready to export.

Finally, you can also quickly access a list of transactions that may have failed to export previously to ensure every transaction makes it to your accounting software reliably.

🚩 Flagged Transactions

At Float we’ve built our platform with secure spending in mind. With existing features like Reporting & Insights, we’ve heard from 74% of respondents that they were saving unwanted spend with Float in our recent customer survey. Flagged transactions are a new added layer to protecting your spend. 

Your new Accounting Workbaord will surface flagged transactions you may want to take a second look at, as you close the books. First, you can set custom settings to track larger than expected transactions. In a click you can see all purchases made over a custom limit set by your team, to stay aware of potential unwanted spend. 

We’ll also flag irregularities amongst your merchants and GL codes. Using automated insights,, Float will show you transactions that are uncommonly larger or smaller than the rest of transactions with that GL code. For example, based on your company’s spend patterns, a $2000 transaction for Travel Parking may seem odd and get flagged. Transactions tagged with an unexpected GL code (ie. spend with a merchant historically associated with a different GL code) will also be flagged for quick review.

Lastly, we’ll also give you a list of transactions where the tax percentage paid is not matched to a typical Canadian provincial tax rate. This helps you make sure you haven’t over-reported (or under-reported) taxes. 

💳 Merchants without Rules

We launched Transaction Rules to the Float platform to make categorizing spend that much easier. For transactions made with a given merchant, you can automatically attach an Accounting Vendor, GL code, tax code, or tag, so the transaction is export-ready without manual entry on your part or the spender’s part. 

For example, if employees in your organization book travel frequently, you can automate Air Canada transactions to always be coded to your travel GL.

We’ll flag the top 5 merchants your company spent on in a given period, currently without a Merchant Rule, so you can quickly set up new rules and save more time at the next month-end!


Take it For a Spin

If you’re an existing Float customer simply log in and head over to your Accounting Workboard to start using your personalized insights. Not yet a Float customer? You can book a demo to learn about our suite of Accounting features and smart corporate cards. 


Written by

Shanelle Holder

All the resources

Hidden

Accounting Automations for Canadian Finance Teams

Learn how to use accounting automations to save your business time and money.

Read More

Float News

Float secures C$50 million in financing to accelerate growth  

In partnership with Silicon Valley Bank (SVB), a division of First Citizens Bank

Read More

Float News

Save 7% on your Spend with Float

We asked over 200 customers across Canada how Float helps them save time and money. The results are in!

Read More