How does the Cash & Card module within the Spend Cloud work?
How does the Cash & Card module within the Spend Cloud work?
Expenses made with cash, card transactions, and online payments are often small-scale and occasional expenditures that occur outside the scope of a Purchasing Department. Cash expenses are recorded in the cashbook, while card expenses are already digitally available in the account statement. Spend Cloud offers the ability to combine these records into a single overview.
With the "Cash & Card" module, you have a digital cash administration system where input takes place decentrally. Cashiers have access to the application (accessible via web and app) and can register transactions independently from their location. The financial administration always has access to all records and can monitor input at the central level.
Going Cashless with business Payment Cards
Many of our clients who use the "Cash & Card" module also connect a Spend Cloud Cards- or bunq account. With both solutions, you can open a business (balance) account that can be integrated with our accounting software. This way, you always have real-time insight into all expenses, can issue a debit card per department, and determine the card limits per card.
It starts with the request for debit cards for employees or teams. You can determine the cardholder's name and balance yourself. For topping up the balance, you have three options:
1. Periodically: Schedule recurring top-up moments as needed.
2. Manual: Replenish the balance yourself at any time.
3. Supplementary: Spend Cloud automatically tops up the debit card to the desired balance.
Due to real-time information exchange, you can see the balance and transactions directly in Spend Cloud. If your organization also uses cash, it's good to know that bank-to-cash transactions are immediately visible. A cash withdrawal from the bank is automatically registered by Spend Cloud as a deposit in the corresponding cash register. This ensures that cross-postings always match cash withdrawals.
Based on the account number and/or card number, Spend Cloud automatically places bookings in the correct bank or card book, even if it involves multiple books. Afterward, the transactions are ready to be coded.
In addition to cash and card payments, there is also the option to easily make online payments. In the webshop, you follow the steps. After making the payment, you can immediately see if the transaction was successful, and the balance updates in real-time.
During the coding of expenses, whether cash or using the debit card, Spend Cloud assists in making the correct booking. Employees can see what falls under the expense category when choosing codes. If you set up filters, Spend Cloud will take over the coding in the future. After closing, the cash or bank book can automatically proceed to the responsible person for review. Additional control options are possible in the form of mandatory checks and digital approval by a cash controller. Additionally, Spend Cloud facilitates the ability to digitally record advances.
The bookings that have been approved by all mandatory reviews are visible by book and period in the "Export" menu item. From here, the books can be exported to the financial package.
The central administration has insight into the progress of the periods. They see the open bank books with the pending periods to be booked and the periods in progress, as well as the closed bank books waiting for review, ready for export, or already processed.
The functionalities of the "Cash & Card" module are suitable for purchasing products that do not go through the Procurementmodule on a large scale. To track all procurement expenses, it's advisable to combine this functionality with the Procurement and Invoice Processing modules.
Also, check out the thematic webinar "Optimize Your Process with Cash & Card," (Dutch only) where we explain what you can achieve with the Spend Cloud "Cash & Card" module.
"Cash & Card" factsheet in Spend Cloud
If you'd like to review this and more information about the benefits of smart debit cards from Cash & Card at your leisure, please leave your details below, and we'll send you the "Cash & Card" factsheet to your email.
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