Product Education

The Month-End: September

What’s new at Float? Last month we revamped the Accounting Hub, enhanced our customers’ funding experience, and introduced Reimbursements. Catch up on these latest game-changers.

October 13, 2023

In the finance team’s world, driving new efficiencies is critical. The faster you can close the books while maintaining accuracy, the more control and insight you gain. At Float, we understand how important this is, which is why we’ve revamped the Accounting Hub, along with introducing some other game-changers to elevate your financial management game.

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.

Written by

Shanelle Holder

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