Revolut for Business has launched a new expense management tool designed to simplify the handling of expenses for growing businesses.
The tool — which is available to freelancers and corporates on paid plans — gives business owners the ability to easily approve or reject team expenses, ensuring that no card payments go unaccounted for.
Expenses can be approved or rejected and synced with the business owner’s cloud-based Xero accounts to automate reconciliation in real-time.
Business owners can also create their own categories within the tool and export expenses as a CSV file if they don’t use Xero.
“It's no longer necessary for [small businesses] to have isolated pockets of data in different accounts and Revolut's customers will now have their expenses beautifully integrated with their accounting records in Xero,” said Edward Berks, business platform director at Xero.
“The days of paper receipts stored in shoeboxes are long behind us.”
Domenico De Fano, senior product owner at Revolut for Business, added: “We’ve made the process of uploading, approving and tracking expenses as simple as possible for everyone involved, meaning there should never be another opportunity for a receipt to go missing.”
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