How to Play Your Cards Right: Business Credit, Debit & Expense Cards Explained

The petty cash box is empty, you can’t find the business credit card, and you’re up to your knees in receipts. Thankfully there’s an easier way to manage team and project expenses. Meet Zeller Corporate Cards. If you’ve ever checked your bank balance at the end of the week, you know how quickly incidental expenses can add up. Now imagine a team of employees, each with their own needs: a round of coffees for clients, a flight for an upcoming conference, a grocery order for the office, a software subscription. The list goes on. If you’re not staying on top of these purchases, not only is it going to hurt your bottom line, but it’s also going to cause many a headache when it comes to your end-of-month finance reconciliation. Thankfully, there’s a simple way to track who’s spending what, and it doesn’t involve flashing corporate credit cards or leveraging sophisticated expense management software . Zeller Corporate Cards are designed to help businesses – and finance teams – stay in control of employee and project-related expenses, while also giving staff the freedom to make necessary purchases. Read on to discover how Zeller Corporate Cards will give you back money, time and peace of mind. Introducing corporate cards Not to be confused with corporate credit cards or corporate debit cards ( learn what these are here ), corporate cards are payment cards linked to a business’s transaction account, and are specifically designed for employees or teams to be able to pay for business expenses. A finance team or CFO can easily order multiple cards, assign them to employees, and individually adjust their spending limits. In addition, they typically have built-in expense management features like recurring budgets that reset periodically, set transaction limits, and tools to help cardholders track and manage their expenses. Zeller Corporate Cards can be created from Zeller Dashboard. Simply follow the prompts to create a new Corporate Card, assign the card to an employee, set the spend limits and choose your card colour. It’s as simple as that. Your card can then be added to your employee’s mobile wallet or a physical card can be ordered. What are the benefits of using Zeller Corporate Cards in your business? 1. Flexibility for staff With Zeller’s corporate card program, your staff are empowered to make purchases as they need them. Rather than having to ask your permission every time they need to process a payment, or paying with their own money and submitting an expense report for reimbursement, a corporate card will give them the freedom to pay for expenses, within the limits that you prescribe. 2. Reduced financial admin Without the burden of having to process employee reimbursements, administrative time is greatly reduced. With Zeller Corporate Cards, all your expenses are centralised into one dashboard, where finance teams can easily and efficiently track who has spent what. 3. Improved tracking Every corporate card is assigned to an individual employee, team, or project, meaning that it's easy to track and isolate expenditure into different areas of your business. Employees will know that their spend is being monitored, engendering a greater sense of responsibility and ownership over expense management — as everything will be traced back to them. What’s more, businesses can choose to make it mandatory for employees to provide certain information, such as the expense category (‘travel’ or ‘entertainment’, for example), the receipt, and a note (with additional information or reasons as to why the purchase was made). 4. Receipt reconciliation With Zeller Corporate Cards, employees can log in to their account on Zeller App or Zeller Dashboard, take a photo of multiple receipts, including tax invoices and transaction receipts, and upload them to a transaction processed with a Zeller Corporate Card. Not only does this do away with having to collect paper receipts, which can get lost or damaged, but it also saves a huge amount of time when it comes to reconciling receipts against their transactions. 5. Cash flow management Zeller Corporate Cards draw money directly from Zeller Transaction Account , which means that you can track your business cash flow in real time. Unlike a corporate credit card which draws on borrowed funds that you need to pay back later (with interest), corporate cards ensure you always know your business’s cash balance – with no hidden surprises at the end of the month. What’s more, you can see a visual representation of your cash flow from both Zeller Dashboard and Zeller App. 6. Budget control for projects Instead of assigning a card to an employee, Zeller Corporate Cards can also be assigned to individual projects. This allows all expenses for a specific project to be paid for on one card, ensuring that the budget is adhered to and that finance teams or managers can easily identify costs directly associated with that project. 7. Fraud protection By allocating corporate cards against individual employees, or by teams or projects, you are able to implement a greater level of fraud protection in your business. You’ll know exactly who is using each corporate card, what the card is being used for, and why — meaning any examples of expenses that fall outside of these guidelines can be identified immediately. 8. Mobile management With Zeller App, you can create and manage cards directly from your smartphone. If a team member needs to pay for a large expense above their usual transaction limit, you can quickly log in to the app and make the necessary changes within a few clicks. The same goes for issuing cards, if you’ve got a new employee or volunteer on the team, simply log in to Zeller App to add a new card, which – if you choose the virtual option – they can start using immediately. 9. Instant virtual card creation Zeller Corporate Cards can be created and added to a mobile wallet instantly. Your employees can start using their virtual card within minutes of you setting it up, meanwhile you can have a physical card sent out in the mail, if you wish. This convenient solution is not only fast to set up, but also ensures your employees will never lose their card. 10. Affordability In comparison to corporate credit card schemes which can cost upwards of $25 per card with establishment fees and late payment charges, or expense management software, which is likely to set you back hundreds of dollars a year, Zeller Corporate Cards are an affordable alternative. There are no monthly or annual subscription fees, and no transaction fees on domestic purchases either. The first 60 days are free, after which you will pay one low, flat cost of $9 per corporate card, per month. Whether you’re running a small business with just a few staff or a rapidly growing company: managing your expenses doesn’t have to be complicated, but it does have to be controlled. Reduce your administrative burden, empower your employees and know where your money is going, all with Zeller Corporate Cards.

Meet your powerful new business Debit Card. Without fast access to your takings, business cash flow can stagnate. Having the ability to make purchases and spend funds when you need to is critical to keeping the operational wheels of your business moving. When you sign up free for Zeller, you get a free Zeller Debit Card as well as real-time transaction tracking — simplifying bookkeeping, and making expense management a much easier task. Keep reading to discover how it works. The fastest way to access your funds Zeller offers a full suite of products to support all of your business’ financial needs. Using your Zeller Terminal in conjunction with your Zeller Transaction Account and Zeller Debit Card is the quickest way to get access to your takings — speeding up cash flow so you can purchase stock and pay bills and suppliers fast. Or, spend other funds settled to your Zeller Transaction Account from invoices paid to streamline your business spending. Funds accepted via Zeller Terminal are settled to your Zeller Transaction Account nightly, 365 days a year, and then instantly available to spend with your Zeller Debit Card. Features of your new business Debit Card Zeller Debit Card is the powerful new spending card linked to your Zeller Transaction Account, replacing the Zeller Mastercard. There are plenty of new features and tools you can utilise to streamline your business spending, manage expenses, make it easier for staff to make purchases on your behalf, and much more. The new Zeller Debit Card can be used in conjunction with your Transaction Accounts as a standalone replacement to your traditional business bank. It’s one of a number of new and improved products that mark Zeller’s shift to become a full-service financial services provider. Fast setup Your Zeller Debit Card will be shipped to you, fast and free, when you sign up for Zeller. There’s no paperwork, or need to visit a bank branch. Signing up takes just a few minutes online. You can also order additional Zeller Debit Cards and issue them to your employees so they can make business purchases in-store and online. Create and assign virtual cards With Zeller, you can create virtual cards in seconds. Rather than wait for a physical card to arrive in the mail, simply log in to Zeller Dashboard, create a new virtual card instantly, then add it to your mobile wallet. Make purchases in-store and online Use your Zeller Debit Card to make purchases anywhere Mastercard is accepted — whether that's in-store or online. You can even attach invoices, receipts or notes to transactions made, to help streamline reconciliation and bookkeeping — and get a clearer understanding of every business expense. Track who you’re spending money with Tracking purchases made by staff is simple, with up-to-the-minute transaction lists available in both Zeller Dashboard and Zeller App (coming soon). Plus, Zeller Debit Card works hand in hand with Zeller Contact Directory , Zeller’s in-built contact management system. Purchases made using Zeller Debit Card will appear in transaction lists, complete with information about the business where the purchase was made. This functionality empowers you to track where your money is being spent, and better understand the business you spend with. Streamline reconciliation Budgeting is something every business owner must have a handle on. Zeller makes reconciliation simple by enabling you to leave notes and attach receipts to transactions, so you know the context behind each purchase. Information about the purchases made using your Zeller Debit Card can also be pushed to your Xero organisation via up-to-the-minute Xero Bank Feeds to simplify your bookkeeping and expense management, making tax time that much easier. Add to your mobile wallet With the new Zeller Debit Card, you can leave your wallet at home and make purchases with a tap of your mobile device. When Zeller App launches, Android users will be able to add Zeller Debit Card to their digital wallet. Functionality enabling iOS users to do the same is coming soon. Remote card management If you (or your staff) ever lose or misplace a card, simply lock it from Zeller Dashboard or Zeller App (coming soon). Placing a lock on your Zeller Debit Card will instantly prevent it from being used. Once found, the lock can also be removed by you — there’s no need to speak to our Support team, yet we’re always on hand to help if you need. No strings attached Zeller Debit Card is free for businesses to use — with unlimited purchases, no monthly account fees, no paperwork or need to visit a bank, and no lock-in contracts. It’s the optimal solution for growing businesses wanting to streamline spending without the hassle. Earn cashback rewards When you spend with Zeller Debit Card, you’ll receive regular rewards and cashback benefits from your favourite suppliers, restaurants and retailers, exclusive to card holders. Simplify your business spending today Sign up for your free Zeller Debit Card online and we’ll ship it to you, fast and free. Then, activate your card and begin spending in minutes. Or, purchase your Zeller Terminal Kit — complete with Zeller Terminal, Zeller Debit Card and Zeller Transaction Account — so you can process in-person and over-the-phone payments seamlessly and securely.

An accountant is an invaluable asset for your small business. As a business owner, maximising your tax offsets (and paying the right amount of tax) is vital. That’s why it’s important you find a good tax accountant early on — otherwise, you could end up paying more tax than you have to, or not enough. An accountant is a professional who takes care of your business’s bookkeeping and prepares important financial documents such as balance sheets, profit-and-loss statements, and more. However, the best accountants don’t just crunch the numbers — they add value to your business. An accountant can give you strategic advice and think of out-of-the-box ways to save your business money, and grow profits. You just need to choose the right one. The difference between bookkeeping and accounting When choosing an expert to be involved with your business’s financials, you need to ensure you are clear on your growth goals. Some business owners choose to engage a bookkeeper instead of a registered accountant, often to save money. However, there are some important differences to be aware of. Bookkeepers record the day-to-day financials of the business —  payroll, invoicing, and transaction records, for example. Accountants, on the other hand, are more focused on budgeting, forecasting, running financial reports and statements, and working on your business’s tax returns. As a business owner, having an accountant as part of your team is imperative for the long-term success and growth of your business. Finding an accountant for your small business Step 1: Create a shortlist With so many accountants available, it’s important to research your options. You’ll want to find an accountant who understands your business, the type of products and services you offer, and who will be able to help with your growth strategy. You should also consider a few factors such as location, workload, type of accounting software, fees, and their reputation in growing other businesses. These days, location is not as important as it once was. Virtual meetings and cloud-based accounting software have made it easier for both accountants and their clients to view real-time data, eliminating the need for you or your accountant to be located in close proximity. This is great news for small business owners: if your accountant can be located anywhere in the world, then you can find one that understands the mechanics of your business. Once you have a rough idea about the type of accountant and accounting services your small business requires, the next step is to compile a shortlist of accountants that will fit your business’s needs. Consider asking your network for recommendations, and spend some time searching online. There are various online directories you can search including: Institute of Chartered Accountants in Australia Institute of Public Accountants Certified Practicing Accountant of Australia It may be a tedious task, however it’s an important one to ensure your business thrives. Step 2: Interview your options Now that you have your shortlist, it’s time to contact each option and learn more about how they run their business. There are four key considerations in determining which accountant is the best fit for your business’s requirements. 1. Experience and specialisation Do they have experience in dealing with similar businesses to yours? Find out what type of clients they’ve dealt with in the past; the size of the businesses, any industry-specific software they’ve used, and how they’ve helped other businesses grow. The more familiar the accountant is with the ins and outs of your industry, the better for your business. An accountant with a good understanding of the intricacies of your business will be able to make recommendations that are align with your business strategy. 2. Communication style While not technically part of your staff, your accountant will be a key team player in your business. Yet in order for your business to benefit from their expertise, the lines of communication must be open. The success with which you and your accountant communicate will be a big factor in the success of your partnership. As Albert Einstein said, “The hardest thing in the world to understand is the income tax.” If you agree with this sentiment, you’re in good company. The accountant you choose needs to be able to cut through financial jargon and explain difficult concepts clearly and concisely, as well as respond to your calls and emails in a timely fashion. Think about how you will communicate with your accountant. You might consider granting them secure third party access to your Xero organisation, and making use of Zeller's integration with Xero Bank Feeds , for example. It’s also important to consider who would step in if they were to go on holiday, or fall ill; do they have a team of professionals who would be able to assist you? Communication is a vital part of running your business, so set your expectations from the very beginning. 3. Proactivity The best accountant for your business will do more than simply lodge a tax return and manage your business accounts. They be will be proactive, helping you to identify quick wins as well as plan longer-time cost-saving initiatives. So, how do you find the best accountant for your business? It’s simple. Ask them what they would suggest to save your business money. Their response will allow you to gain an idea of just how much work they are willing to put in. “The worst accountant to have is the one who just says 'yes', 'no', and 'it depends'. The accountant you want is the one who asks open questions: who, what, when, where, how, why. A good accountant will enquire about the type of work you do, and make smart suggestions based on that,” says Duncan Perkins, owner of Tax Time. However, in order for your accountant to be proactive, they must be kept informed of important business decisions and aware of plans for future growth. This is where many small business owners miss out. “A lot of people see their accountant as a machine to get a task they hate out of the way,” says Duncan. “They’re scared to ask questions, because if they do they think it’s going to cost them a couple of hundred dollars to resolve something that may only save them a very small amount. But a good accountant will help you stop focussing on the little things, like $10 deductions, and start looking at the bigger picture — so they become more of an advisor.” 4. Cost Find out what additional costs are associated with the services provided. You’ll want to know upfront what the expense will be to your business, and if payment plans are available. Ask what’s included in the accountant’s fee and what’s considered an additional cost. Keep in mind that, whilst accountants can take care of the entire financial side of your business (including bookkeeping), this might not be the best approach for you. As most accountants charge by the hour, you’ll likely want to maximise the time you’re paying for instead of paying for simple tasks such as bookkeeping and paying invoices. For that, you could engage a bookkeeper or find accounting software that will simplify tasks like invoicing by sending automatic invoices and recording their contents. If you handle the simpler tasks, it will allow your accountant to deal with the more complicated tasks like forecasting, bank account reconciliation, lodging tax return forms, payroll, and capital depreciation calculations. Your accountant will be intimately involved with the operations of your business, so finding the right person for the job is important. When it comes to finding a good tax accountant, you’ll need someone trustworthy, that has experience with similar businesses and has clear and concise communication with their clients. Remember, you and your accountant operate as a team. The accountant you choose should help your business grow, offer sound advice on business issues, and save you money both in the long and short term.