A monthly budget reconciliation process is necessary for tracking business costs, ensuring accurate accounts, and budgeting for future expenses. However, when a credit card company only provides detailed data about expenditures at the end of the year, the resulting budget reports can be time consuming and too delayed to provide actionable information. Having access to data on a more regular basis can allow this information to be compiled monthly, offering timely insights and cutting down the time needed to complete each report.
Fortunately, if your employees have PEX Visa prepaid cards then you will have access to purchase information immediately. This helps make budget reconciliation a breeze. Monthly statements and custom reports are available through the PEX Card system to help you forecast spending and stay on budget. This gives you greater control and ongoing information and can make your end of year reporting much easier.
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.