Prepaid Debit Cards: Keeping Employees Accountable

Tuesday, March 2, 2010

How frustrating is it for you as a business owner, when despite the best intentions of your employees, you have tremendous trouble keeping them accountable for expenses when they are out of the office?

We have all seen way too many times when receipts are lost and the purchase was made with cash, rather than a credit card or debit card. It’s difficult to trust that the reimbursement requested was legitimate. If you fronted the employee with a cash advance, it’s even more concerning. Plus, the company has no record of the transaction, causing further accounting nightmares at tax time.

Expense control can also be a problem when employees co-mingle their personal credit cards with business charges. Obtaining the paperwork from the employee in a format that is workable for them, the company, your bookkeeper and accountant is not so simple or efficient.

We have heard all kinds of stories from our clients about how difficult it was to keep employees accountable for business expenses because they did not have an expense management solution that was convenient for all parties.

They have told us that the PEX Card Service has improved their ability to control and manage employee expenses while eliminating their inefficient old reimbursement processes. The full set of benefits associated with providing their employees with a prepaid debit card, combined with PEX Card’s real-time monitoring, tracking and reporting capabilities has enabled them to not only save time and money but also has improved the satisfaction of the employees who have to deal with expense reimbursement.

Listen to the testimonials from a sampling of our clients using our prepaid card service. Click here.

Keep your employees accountable with a service you can count on.

Labels: Accounting, expense management