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.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
OneSavings Bank reports 15% loan book growth
OneSavings Bank (OSB) has announced that it achieved loan book growth of 15% in the nine months to 30th September 2019...
Hodge Bank appoints two new directors to its board
Hodge Bank has appointed Graeme Hughes (pictured above) as senior independent director of Julian Hodge Bank and Hodge Life Assurance Company and David Gulland to the board of Hodge Life Assurance Company...
Banking customers to take more control of personal data
Banking customers are expected to take much more control of their own personal data in the future through digital ID profiles, according to a new report...
OakNorth Bank launches range of joint savings accounts
OakNorth Bank has launched a new range of joint savings accounts...
The relevance of cards in a digital world
Physical cards are not only relevant for program users, but also for the banks...
Revolut names new non-executive chairman of the board
Revolut has named Martin Gilbert (pictured above) as its non-executive chairman of the board...
Secure Trust Bank Commercial Finance exceeds £4bn in lending
Secure Trust Bank Commercial Finance has now surpassed £4bn in total lending since launching in 2014...
Charity Bank provides 1,000th loan
Charity Bank has reached a lending milestone by issuing its 1,000th loan...
Wesleyan Bank launches cash flow product for renewable sector
Wesleyan Bank has launched a bespoke cash flow product for the renewable heat sector...
Al Rayan Bank extends BTL range
Al Rayan Bank has extended its BTL range and is now offering landlords 80% finance-to-value (FTV) for its BTL purchase plan (BTLPP) products...
The ongoing digital revolution is re-writing the communications manual
The evolution of new communications technologies is redefining the customer experience in the specialist banking market, with customers having higher expectations in regard to how, when and where they want to be communicated with...