Shanelle Holder, Author at Float

Close the Books Faster with Accounting Hub

You know the drill. Every month you face the challenge of reconciling transactions, ensuring accuracy, and preparing for financial reports. The process can be cumbersome, but it doesn’t have to be. Enter Float’s Accounting Hub, a dedicated space designed to streamline the entire process at scale. Here’s what you need to know.

Review with Lighting Speed: Say goodbye to sifting through pages of transactions. With Accounting Hub, you can quickly review and analyze your transactions, ensuring accuracy and compliance.

Automation at its Best: Automation is the name of the game in modern finance. With the Accounting Hub, you can automate repetitive tasks, reducing the risk of errors and saving valuable time

Seamless Export: Exporting transactions to your accounting software has never been easier. Whether you’re using Float’s Accounting Sync (QBO, Xero, or NetSuite) or a custom CSV template, exporting transactions is always a breeze.

Make this the month you embrace Float’s Accounting Hub and revolutionize your book closing process (your team will thank you).

Introducing Float’s Banking Hub

At Float we believe in building spaces that simplify your company’s spending. Our newest addition, the Banking Hub, is designed to do just that. This hub provides a single place to manage your company’s Spending Power on Float, which represents the funds available for any pre-funded Float Cards. What sets the Banking Hub apart?

Enhanced Connectivity: We now allow you to now connect multiple bank accounts with ease. This enhanced connectivity also opens the door to qualify for upcoming credit products and high limits.

Transparency: Ever wondered when exactly funds will be available? The Banking Hub lets you see at a glance when your funds are expected to arrive, empowering you to make informed spending decisions

Effortless Transfers: Ensure your pre-funded Float Cards never run out of funds by setting up automated top-ups and pay-downs.

Ready to take control of your company’s spending? Watch our video on Funding with Float and discover how to optimize cash flow with your company’s smart corporate cards

Reimburse Employees Directly in Float

Reimbursements can be a headache for both employees and finance teams. That’s why we’ve introduced Reimbursements within Float. It’s incredibly easy for teams to submit out-of-pocket expenses, and the best part? Doing so with Float can create thousands of dollars in savings for your team. How?

Simplify Team Payments: Team members request spend all in one place (whether it’s spending on a Float Card or an out-of-pocket reimbursement), reducing the amount time spent managing employees on multiple platforms.

Save on Software: Every dollar counts when growing your business. Save on expensive expense management software by using Float’s Reimbursements and no additional cost per month.

Eliminate Administrative Work: Finance teams can create custom Submission and Approval Policies to eliminate manual work. Employees simply upload their receipts and expense information, and their request automatically goes out for approval so the finance team can payout (and close) faster.

Curious about how Reimbursements work? Check out our video for an in-depth look at the submission, approval, and export process for out-of-pocket expenses.

Until Next Time 👋

We’ll be back soon with Float’s latest product updates, events, and resources. If Float’s new Accounting Hub, enhanced Banking connections and Reimbursements could move the dial for your team and you’re not yet a Float customer, simply book a demo. Our sales team will walk you through how you can simplify your company’s spend management with Float.

We’re excited to introduce Reimbursements – the simplest way for teams to manage out-of-pocket expenses, directly in Float.

Thousands of teams know that using a Float Card for company spending saves countless hours with automated approvals and smart reconciliations. Yet out-of-pocket expenses still happen from time to time. Our goal at Float is to introduce optimal ways to manage all team spending (including the odd expense that happens when you don’t have your Float Card on hand).

Now, the same custom controls and automations that companies get when their team spends with Float Cards are available to streamline employee reimbursement requests as well!

How it Works

So long Excel spreadsheets, email chains, and expensive software. Reimbursing out-of-pocket expenses is just 3 simple (and automated) steps in Float.

The Spender Submits a Reimbursement Request. Finance teams can streamline this process by setting up custom Submission Policies to ensure all required information is submitted for smooth month-ends.
The Manager Approves the Request. Custom Approval Policies notify the right Manager (or Managers) to approve the request in Float without delays.
Admins Export the Approved Request for Payout. Once approved, Admins can sync reimbursement submissions to their accounting software and pay employees quickly though their payroll or accounting software.

Why it Works for Your Team

Using Reimbursements in Float’s integrated spend management solution means time and cost savings for your company that you can put back into growing your business. With Float, you’ll get to:

🧾 Simplify Team Repayments

Whether they paid with their Float Card or needed to make an out-of-pocket payment, team members now request to spend and submit expenses all in one place. No need to onboard and manage employees on multiple platforms, and finance teams get a real-time, consolidated view of company spending.

💸 Save on Software

Every dollar counts when growing your business. Expense management software can be expensive when charging per seat (think Expensify or Concur). This costs companies thousands of dollars a month. Reimbursements is available to all of Float’s Professional customers at no additional cost per user.

🙅‍♀️ Eliminate Administrative Work

Finance teams can create custom Submission and Approval Policies to eliminate manual work. Employees simply upload their receipts and expense information, and their request automatically goes to their manager for approval so the finance team can payout (and close) faster. No more f*$%-ing expense reports.

💳 Spend on Cards Worry-free

Your team members feel happiest when they’re empowered to do their best work. This often includes needing to spend with insight and flexibility. Assigning Float Cards to employees with frequent or large expenses gives team members autonomy, while finance teams still keep control and peace of mind. In addition to Reimbursements, enjoy unlimited virtual Float Cards to spend in CAD or USD as part of Float’s free Essential plan (and free physical cards with the Professional plan).

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At Float we believe Canadian finance teams deserve a financial partner that understands their unique needs. Reimbursements is yet another game-changer in the Float platform, built for Canadian companies and teams looking to streamline their expense reporting in an integrated solution.

We’re excited to reward our customers with locked-in Pro pricing of new Enterprise features like Reimbursements (and our new HRIS Integration) – as our way of saying thanks for helping our team build the future of financial services in Canada.

Whether you’re currently on Pro or sign up for Pro in 2023, you’ll gain access to select new Enterprise features launched this year and enjoy continued access to Float’s $99 a month Pro pricing.

Sign in to Float and start simplifying your team spend with Reimbursements. Not a customer (yet)? Book a demo with our local team to learn more!

Author: Shanelle Holder

The Month-End: September