Have Mobile Employees?
Want to get rid of your Petty Cash Tin?
Weel might be able to help you.
I recently sat in on a Weel demonstration to be the “devil’s advocate” for a client wanting to use it for staff……. But I really liked it as a great way to streamline some common problems for small businesses.
Firstly it IS a credit card on some ones phone so if you are only new to business or a sole trader and struggling to get a bank to give you a credit card this might be a solution.
Secondly if you need a way to allow employees to spend money on your business’s behalf Weel is definately worth a look. It does Expense management well.
Weel offers a separate bank account, completely independent of your existing banking system, making it easier to manage and track all your business expenses in one place.
Some of the features I liked:
Automated Top Ups for Hassle-Free Budgeting
One of the standout features of Weel is its ability to automate top-ups for your business budget. Say goodbye to manually adding funds to your account; with Weel, your budget will always stay topped up, saving you time and effort.Customizable Permissions and User Roles
Weel offers an "out of the box" permissions system that allows you to grant access to different team members or individuals, even if they are not official employees. This feature makes it ideal for sporting clubs and other organizations that need flexible access control for their finances.Multiple Payment Types on One Platform
With Weel, you have access to four payment types, streamlining your expenses and providing you with versatility. Whether it's online payments, tap transactions, reimbursements, or subscriptions, Weel has you covered.Budget Management Made Simple
Your budget becomes a bucket of money with Weel, which can then be split among team members or different expense categories. These categories are linked to your Chart of Accounts (COA), ensuring seamless integration with accounting software like Xero, MYOB, or QBO. If needed, managers can override expense categories, and manual sync options are available for Xero in case of last-minute changes.Effortless Transaction Tracking and Completion
Transactions on Weel remain incomplete until all the required fields are filled, ensuring that all the necessary details are accounted for. For outside individuals, like event attendees, you can easily add their information. The platform sends push notifications every three days for incomplete transactions, with a final email reminder at the end of the month. If transactions remain incomplete, the card linked to the budget can be temporarily deactivated.User-Friendly App and Browser Interface
The app allows for easy receipt photo capture at the time of spend, or has a reimbursement feature for expenses already incurred. You can also have multiple profiles for different businesses within the same app. And as it is a card it goes into a phone wallet ort can be used with payment services online or devices.Seamless Integration with Accounting Software
Of course I would only look at a product with good integration so not only does Weel integrate smoothly with popular accounting packages like Xero, MYOB, and QBO but your COA is automatically imported from Xero, but customization options are available. So you can limit what accounts in your Chart of Accounts and employee can use, Weel will also mirror thinks like Project Tracking if your Xero is et up for them. Of course Xero is th example because of its popularity , as mentioned Weel currently integrates with MYOB and QBO and those integrations are being enhanced t be as good as the Xero connection.Cost-Effective Plans
Weel offers an affordable introductory plan at just $59.00 per month, allowing access for three users, and grows in price from there. Besides no paper remember this reimbursement process and the financial data is automated so there Should be obvious time savings as well.Weel works great for both the business AND the employee and might solve some solutions to the new Remote Business and will also now be another string in the software bow of LDG Accounting.
More questions?
Always happy for a chat
