Prepaid Cards For Business: PO Number System

Thursday, February 11, 2010

Our clients often describe the ways they integrate the PEX Card Service into the normal flow of day to day operations within their small businesses. One case in particular is quite interesting.

The Problem:
How to manage, fulfill and organize multiple requests for funds on a daily basis so crews in the field can buy the supplies they need for their various jobs and then manage billing accordingly so clients are charged properly and profitability per job can be measured?

The Solution:
Combine using the PEX Card prepaid debit card service with internal process around request and fulfillment management so that the right information is captured and the process is efficient.

How:
The business owner establishes daily budgets per card for everyday purchases such as fuel for work trucks. For supply purchases, crews pull the items they need at the supply store and estimate how much the transaction will cost. They call in the amount and an admin at the office logs into the PEX Card admin site to fund the card, while at the same time creating a PO number that is linked to the job. The number is noted on the sales slip which details the purchase. Crew members turn in the receipts and sales slips every couple of days so they can be matched up. The business uses the CSV report provided by PEX Card to track which items are submitted and which are pending.

Once in place, a prepaid card for business like PEX Card can combine funds disbursement and supply purchase tracking in a way much more simple to manage.

Labels: Accounting, Budgeting, Business Process, expense management