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Pleo and Xero Integration: A Winning Combo for Expense Tracking
Today's Cloudfox Guide will examine how Pleo works with Xero to optimise your financial processes, so you can focus on managing thriving student properties.
Stop drowning in receipts and spreadsheets while managing your business expenses, and say hello to Pleo – the game-changing software revolutionising your expense management journey.
Today's Cloudfox Guide will examine how Pleo works with Xero to optimise your financial processes, so you can do what you do best - manage thriving student properties.
The power of Pleo software
Pleo is the Xero partner laser-focused on helping you gain control of your business spending and expense management.
Let's explore how this innovative software can revolutionise your approach and integrate seamlessly with (our favourite) cloud accounting software, Xero.
Streamlined expense tracking
Gone are the days of sifting through receipts and manually categorising expenses. Pleo introduces a seamless process where transactions are automatically captured and categorised, eliminating the tedium of manual data entry. Every swipe of a Pleo card or transaction made using a virtual card syncs effortlessly with the platform, ensuring that every expense is accounted for in real-time.
Say goodbye to lengthy reimbursement cycles and complicated paperwork. Pleo empowers employees to snap photos of their receipts using the mobile app, instantly sending them for approval. Once approved, reimbursements are initiated with a click, and funds are seamlessly deposited into employees' accounts. It's a win-win, saving time and minimising administrative headaches.
Smart insights and reporting
Understanding your spending patterns is crucial for effective financial management. Pleo provides intuitive dashboards and reports that give you a comprehensive view of your company's expenses. Whether you're monitoring departmental spending or analysing supplier costs, Pleo's insights offer valuable data to make informed decisions.
Pleo recognises that one size doesn't fit all when it comes to expense policies. With Pleo, you can define spending limits for different teams or individuals, ensuring that expenses stay within predefined budgets. This level of control prevents overspending while granting autonomy to your team.
Let's look at how Pleo integrates with Xero to give you even more oversight.
Seamless integration with Xero: A financial synergy
Pleo's capabilities are undeniably impressive on their own. Still, when combined with the robust features of Xero, the result is a harmonious partnership that transforms your expense management and financial reporting.
Let's uncover how the integration works and the benefits it brings to property managers.
Effortless data synchronisation
Pleo and Xero's integration operates in sync, seamlessly transferring your financial data between the platforms. Expenses made through Pleo are automatically imported into Xero, which means less manual data entry and error risk.
Automated categorisation and reconciliation
The integration intelligently categorises transactions based on predefined rules, saving precious time. Syncing the two platforms further allows you to easily reconcile matching transactions, meaning interdepartmental hunts for paperwork and approval is a thing of the past.
Real-time insights and reporting
With Pleo and Xero working together, real-time financial insights become a reality. Updated expense data is readily available, allowing you to generate accurate financial reports with a few clicks.
Decision-makers and property managers can make informed choices based on up-to-date financial information.
Enhanced financial accuracy
Manual data entry is time-consuming and prone to errors and forgotten expenditures. Leveraging Pleo and Xero's integration reduces the risk of discrepancies. Your financial records become more accurate, contributing to better compliance and smoother audits.
A unified approach to financial control
The Pleo and Xero integration presents a unified solution for managing expenses and financial data. Instead of juggling between platforms, your accounts team can enjoy the convenience of centralised economic control, leading to better organisation and strategic decision-making - optimising their reporting to you and the board.
Clearing up common queries: Your Pleo FAQs answered
We often get asked about Pleo and if we recommend it to our property management clients (Yes, we do!). We thought it would be great to add that info to this guide.
Q: What does Pleo do?
Pleo is an expense management software that simplifies expense tracking, reimbursements, and financial reporting. It's user-friendly, too, making it an intuitive tool for even the less skilled user.
Q: How much does Pleo cost?
Pricing does vary based on your business needs. Let's take a look at what they tell us:
- Starter plan (free for up to 3 users, billed yearly) - access to pleo cards, real-time expense tracking, reporting, invoicing, and integrations which include Xero, Apple Pay and Google Pay wallets.
- Essential plan (£39 per month up to 3 users, £11.50 for each additional user, billed yearly) - Everything on the free plan, plus 0.5% cashback for eligible customers, spending limits and analytics, reviews for team spending, reimbursement for employees without Pleo cards, reimburse cash expenses and mileage, manage company subscriptions and live chat support.
- Advanced plan (£79 per month up to 3 users, £13.50 for each additional user, billed yearly) - Everything on the Essentials plan, with 1% cashback instead of 0.5%. Plus, open API access, single sign-on with SAML, chat, email and phone support, assisted onboarding, and a dedicated customer success manager.
Most of our clients sit between the Essentials and Advanced plans depending on company scale and user needs.
Q: How does Pleo work with Xero?
The Pleo and Xero integration seamlessly connects the two platforms, enabling the automatic transfer of expense data, streamlined reconciliation, and real-time financial insights.
Q: Is a Pleo card prepaid?
Yes, Pleo cards are prepaid, providing employees with controlled spending limits while ensuring financial discipline.
Q: How do I use my Pleo virtual card?
Pleo's virtual cards function similarly to physical cards. Generate a virtual card within the Pleo app, which can be used for online purchases and subscriptions.
You can use your card with Google Pay and Apple Pay wallets - remember to have usage policies with your staff to ensure data protection on private or bring your own devices (BOYDs).
Q: How long does a Pleo top-up take?
Top-ups are generally instant, providing quick access to funds when needed. This responsiveness ensures smooth expense management. You can even setup direct debit payments so it auto tops up when your balance get’s below your threshold.
Q: Can you use Pleo abroad?
Absolutely! Pleo's functionality extends internationally, making it an excellent choice for businesses with global operations and those one-off business trips.
Q: Is there VAT on Pleo?
Yes, VAT is applicable based on your region's tax regulations. Pleo helps you easily handle VAT by allowing you to categorise expenses accordingly.
Q: Is Pleo a debit or credit card?
Pleo operates as a prepaid debit card, offering spending control while eliminating the need for credit checks.
Conclusion: Mastering financial efficiency with Pleo and Xero
Clearly, the partnership between Pleo and Xero is more than just software - it's a strategic approach to enhancing financial control and efficiency.
The synergy between Pleo's streamlined expense management and Xero's robust financial reporting equips property managers and their accounting teams with the tools to navigate the complexities of business spending, expense tracking, and financial reporting. And that's why we recommend it.
Ready to revolutionise the way you manage expenses and elevate your financial control? Take the first step by filling in the contact form below.
Cloudfox will guide you through implementation and monthly bookkeeping with ease.