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.

Issuing payment cards to employees for business-related spending is a great way of simplifying expense management in the workplace. What’s less simple, however, is understanding the different card types available to businesses. From corporate credit cards to business debit cards, prepaid cards, and expense cards, there’s a bit to get your head around. Below we explain the difference between the most common card types and provide a list of pros and cons for each. Business Credit Cards Business credit cards  are designed for businesses to cover work-related expenses with funds borrowed from an issuing bank. They often provide rewards such as cash rebates or a points program and are available to businesses of all sizes, typically without any minimum annual revenue or spending threshold requirements. They do, however, require a credit check and often a personal guarantee, meaning the business owner is liable for all debt. Because of the risk of misuse, business credit cards are usually only held by business owners, or authorised personnel, not employees. Corporate Debit Cards & Business Debit Cards A  corporate debit card , or  business debit card  is linked to a business’s transaction account. When a transaction is made, funds are deducted from the available balance of the company’s bank account. When a business owner  opens a business bank account , they will receive a business debit card. Unlike credit cards, they are not linked to a line of credit, and spending is limited to what is available within the account. Most debit card issuers don’t offer the ability to easily modify spend limits on individual cards, meaning that whoever has access to the debit card, can access all the funds on it. Prepaid Cards & Expense Cards A  corporate prepaid card, otherwise known as a business expense card, or employee expense card is a payment card that has been preloaded with funds, allowing businesses to control employee spending. These cards are typically very easy to get, with no paperwork or application process required. Prepaid cards are managed by the finance team or CFO, topped up as necessary, and assigned to employees to give them access to company funds. Zeller Corporate Cards Similar to prepaid cards,  Zeller Corporate Cards  are designed for businesses as a convenient way to track and regulate spending while providing employees with a secure and flexible payment method. These cards are linked to your  Zeller Transaction Accounts , and are managed by the finance team or CFO who can set maximum spend limits per transaction and per day, week, fortnight, month, or quarter. Additional cards are very easy to issue (virtual cards can be issued instantly from Zeller Dashboard, or Zeller App), and can be assigned to employees as necessary. Zeller Corporate Cards: Do not require a credit check to qualify Can be set up in minutes Allow you to set spend limits and recurring budgets, reducing admin time Provide a layer of security if cards are lost or stolen Are accepted anywhere Mastercard is accepted Do not need to be topped up with funds – cards draw funds directly from the transaction account, but only within the card's pre-defined limits. Learn more about the benefits of Zeller Corporate Cards here What card types are best for managing team spending? Although it’s common practice for businesses to share one business credit or debit card, and to pass it around to employees as they need it, this is not recommended. Not only do you run a greater risk of losing the card, but also, company money could be used irresponsibly. When choosing a card type for managing work-related expenses for your team, it’s important to choose one that has been designed for that purpose. Corporate credit cards are a good option, however, given their strict eligibility requirements, they remain largely inaccessible to many businesses.  The best option for managing team spending is either prepaid or expense cards, or even better: Zeller Corporate Cards .  These options give your employees the flexibility to pay for work-related expenses without the risk. You remain entirely in control of how much your employees have access to. With Zeller Corporate Cards, you will benefit from robust expense management features, which allow employees to easily upload receipts against their transactions, and employers to control spending limits and reconcile expenses from their desktop or Zeller's mobile app. Additional cards are easy to order, and Zeller supports virtual cards, which employees can add to their mobile wallets.

Here are a few simple steps to streamline the way you track your daily business expenses. Many merchants struggle to keep finances in order. Small business owners tend to wear multiple hats — from operations to HR, marketing and finance. There’s a lot to take care of, and it’s easy to understand why financial admin can slip to the bottom of the pile. Yet there are lots of good reasons why you should be tracking your business expenses. Aside from reducing the cognitive overload come tax time, keeping on top of your expenditure can you better manage cash flow and make informed, profit-building decisions for your business. Read on to discover some small steps you take as part of your day-to-day routine to keep on top of your business expenses. 1. Store your receipts properly Maximise your deductions at tax time by being diligent with retaining and documenting your receipts — your accountant will thank you. Keep your paper receipts in order by recording them in your accounting software, and then storing them systematically in the event of an audit. If you have a lot of paper receipts, consider converting them into digital formats (either by taking a photo or scanning them) to save on storage space, and prevent your receipts from fading or deteriorating over time. Alternatively, ask vendors to send you digital receipts via email or SMS — which is a money saver for them, and a space saver for you. Store your digital receipts securely, so that you can retrieve them as required. Just make sure that your system is backed up to avoid any heart-dropping mishaps. Most accounting software has the ability to attach the electronic receipt to the entry in your ledger, which makes it easy to search and retrieve the receipt as required. Zeller Dashboard tracks expenses in real time, and has a handy search function so that you can find specific transactions when you need them. 2. Open a separate business account Maintain a clear line between your personal spending and your business expenses by opening a separate business banking account — it’s one of the easiest ways to keep an eye on your spending. There are many good reasons why having a separate account is good for your business; it saves time, makes reconciling your expenses simpler, and it gives you greater visibility of what’s happening with your finances. It also means that you don’t have to explain your personal spending decisions to your accountant — or anyone else — come tax time. 3. Let accounting software do the heavy lifting Modern accounting software is more than a spreadsheet, it’s a complete system designed to keep you on track financially and save time. As such, there are many tasks that can be automated to reduce the amount of time you spend on bookkeeping. Most cloud accounting systems have the ability to connect directly with your bank feed, which updates your financial transactions in real time, and makes reconciling expenses a lot easier. Set aside a regular time each month, or more often if you have a lot of transactions, to go through your records and reconcile your expenses. If you use an expense tracking app throughout the day, your accounting software will intuitively match your bank records to the entry, and you’ll have minimal work to do. If you need help deciding which accounting software will meet your accounting requirements, read How to Choose The Right Accounting Software For Your Business . 4. Review your suppliers annually Brush up on your negotiation skills and you could save a few dollars. While some expenses may appear to be set in stone, in reality, there is usually room to negotiate to get a better deal for your business. Utility companies update their plans and pricing on a regular basis, so make it a priority to contact them every year to see if you’re on the best plan for your needs. Also consider bundling services, like your work phone and internet, to get a better deal and save. Loyalty can go a long way when it comes to negotiating with suppliers. If you’ve been trading with someone for a long time, keep an open dialogue with them about your needs. Most small business owners are prepared to be flexible in order to keep a loyal customer. And remember, not all negotiations have to be about money. You might not be able to barter on the price point, but you might be able to secure faster delivery at no extra cost — which may not save you money, but will save you time. When it comes to automatic contract renewals, make a diary note to review your contract two to three months before the renewal is due. This will give you time to advise your supplier if you find a better deal, and choose not to renew. Another approach is to negotiate the terms at the beginning of the contract. If a contract calls for automatic renewal, ask your vendor for an amendment to the terms giving you the option, not the obligation, to renew your contract within a window of time. 5. Wherever possible, fix expenses Expenses fall into one of two categories: fixed or variable. Fixed costs remain the same, irrespective of your volume of business. This may include things like rent, plant or machinery purchases, business registrations and insurance. The benefit of fixed costs is that they can be anticipated, and the expense accounted for. In contrast, variable costs can change depending on business needs, and may include labour, raw materials and utilities. While variable costs offer flexibility, they can also put your business at risk of overspending if not managed appropriately. Purchasing equipment or machinery outright is one way to fix your costs. Leasing tools can make it easier to get up and running, but will likely cost you more in the long run. By investing in your own equipment, you can reduce ongoing payments, which is good for your business cash flow. 6. Reduce your reliance on invoices For some industries, preparing and sending invoices, and giving clients payment terms, is regular practice. However, relying on invoices can mean a delay in getting your money. Reduce your risk, and the administrative burden of chasing up unpaid invoices, by transitioning to upfront payments, or collecting payments on job completion with a portabl. This will reduce the number of defaulted or delayed payments from clients, and get that money in your account a lot faster so you can focus on growing your business. 7. Keep your income and expenses up to date Regularly reconciling your expenses is one of the best ways to stay abreast of the financial health of your business. Knowing your numbers, whatever they may be, is critical for running a successful business. Achieving this also means knowing exactly what and how you’re being charged for each business service, including for the provision of EFTPOS services by  your payment provider . Seek out a provider who is open and transparent about costs, with no hidden conditions or fees. Better yet, look for a fixed transaction rate, and no account-keeping fees or ongoing equipment rental. At Zeller, we provide full transparency for our customers, with flat rate transaction fees and no ongoing costs. Our full-featured dashboard also allows you to check your numbers at any time, giving you 360 degree visibility of what’s going on with your business — from real-time transactions, profit comparisons, a summary of tax obligations and any refunds transactions that may require your attention. 8. Get professional help Investing in the services of a professional accountant can help maximise your savings and minimise your tax liabilities, yet the true value of an accountant comes from bigger picture thinking. A good accountant can also help you grow your business, by providing guiding advice on when to scale up and how. And while your accountant handles the financial details, you can focus on the building your brand and your customer base. An accountant should be a trusted partner in your business, so it pays to shop around to find the right person for your circumstances and ambitions. Finding a reputable practitioner is important, so ask around for recommendations of capable candidates from others in your industry. Other questions to consider are: What services do you need? Is this their area of expertise? What accounting software do they work with? What costs do you need to consider? Finding the right accountant is like finding the perfect pair of shoes. Once you’ve found the right fit, you’ll feel fully supported and ready to take your business to new levels. Keeping on top of the financial health of your business is one of the best things you can do to nurture a profitable and sustainable business. Managing your expenses may not be the most thrilling job in the house, however it can be one of the most rewarding. Appropriately managing business expenses will also have one of the biggest impacts on your bottom line, so it pays to embrace it with good practices and an optimistic outlook.