How much time does your accounts department spend on reconciling petty cash for your employees? Your staff reimbursement system may be costing the company money in hours spent on dealing with impromptu requests and compensating staff for minor expenses.
Manage staff expenditure with a secure and efficient business expense card for employee expenditures and petty cash claims. With the TRUST U Petty Cash Card employers can retain budgetary control, reduce paperwork, save time and costs as well as provide a benefit to staff.
Petty cash and expenses may seem incidental compared with the overall costs of running a business, but they can be time consuming, a distraction from company profitability and they are prone to risk.
Employees appreciate the convenience of a prepaid card as they don’t have to use their own cash to pay for incidental business-related expenses and fill out forms to be reimbursed. And with the TRUST U Petty Cash Card you will reduce accounting overheads.
The card balance and transaction history is available to the company and the staff member via a secure online portal, where the available balance can be checked and the transaction history can be viewed. Similar to a credit card transaction statement, both employee and employer can see what is being spent and where it is being spent. There is no need for receipts, reconciliations, substantiation or cash reimbursements.
The TRUST U Petty Cash Card is a secure, reloadable prepaid VISA card that is loaded with a set amount and can be topped up by the employer as required. TRUST U prepaid card has all the convenience and security of a credit card with the additional benefit of budget control making it a superior choice ahead of credit cards, petty cash, cab vouchers or personal cash. You set the budget and they cannot overspend, it’s an advantage for employers and employees.
The card features the quick and easy technology of VISA payWave.
Approved by the Australian Tax Office and exempt from Fringe Benefit Tax (FBT), the TRUST U card is designed for minor expense claims instead of petty cash.
It can be used for occasional expenses related to work activities, such as taxis, parking fees, fuel and expenditure associated with projects such as meetings, functions and incidental supplies.
TRUST U Petty Cash Cards have the intrinsic benefit of building trust with employees that encourages their accountability and commitment to the company. Loyalty to the business is an intangible asset that can be increased with benefits for employees, and making the expense claim process stress-free builds confidence and encourages staff commitment by recognising their autonomy and trust.
Easy to set up, establish the balance and activate by the employee, it can be topped up only by the company through the online portal.
Only the TRUST U Petty Cash Card allows full customisation of the card design with a company logo or a branded custom design so your company builds its brand every time the card is used. TRUST U Petty Cash Cards can be used in any store where VISA or Mastercard prepaid is accepted in Australia or overseas, including purchases made online.
TRUST U Petty Cash Cards were designed for Australian companies by Zenith Payments, Australia’s leading payments processing and prepaid card provider. Used by 300 of the top 500 companies, Zenith is 100% Australian owned and specialises in the provision of prepaid Mastercard, VISA and eftpos cards to corporates for employee expenses, staff recognition programs, customer acquisition and retention programs.
To find out more, visit the Corporate Prepaid Cards website here.