What is the best business credit card? What is the best tool for managing receipts and coding credit card charges? We get these questions a lot from new clients and it is amazing how often businesses struggle with outdated, expensive and time-consuming credit card and expense management systems for tracking receipts. Luckily, there is a modern solution here and it is free!
First things first… lots of business get their credit cards from the usual suspects such as AmEx, Bank of America, CapitalOne or Chase. They also usually pay expensive annual fees just to use the card. They then do not save receipts, which will lead to disaster in the event of an audit.
Some business using the above credit cards will invest in another piece of software to track receipts from credit card charges and to code those charges. These expense report apps are disliked by most, card holders and accountants alike. Concur, Certify and Expensify are a few of the popular ones. These are great tools, but they are dinosaurs.
Old vs New
We found a solution that replaces everything above, costs clients nothing to use and can be implemented in a matter of minutes. You get VISA cards with your company logo on them and expense reporting software goes away completely. (Receipts get texted or emailed and then get auto-matched to the charges) Everything then flows directly between the app and your accounting software as often as you’d like.
The application and approval process can take place in a matter of minutes and they give you a healthy cash-back rate on all charges too. There is literally no downside. This is the solution.
So what is the Solution?!
This solution is Ramp. We move almost every one of our clients to Ramp for their credit cards and receipt management, and they love it. The cards and the platform are completely free! Ramp was started by former executives at CapitalOne so they know what they’re doing. It saves us and our clients so much time. And no more expense reports!
Astero Group has no financial ties to Ramp and we’re not investors or anything. But since we use them with so many of our clients, we have a special deal worked out and I’ll share it with you today… click here to get it.
Pro Tip: Want to know our favorite feature with Ramp? It’s really simple to control the cards individually. You can set spend limits, temporary or permanent. Our personal favorite is setting a policy that automatically locks a card if they don’t upload a receipt within seven days of the charge. This makes sure that charges are monitored closely and you won’t have sales people complaining at the end of each month that they don’t have time to dig for a month’s worth of receipts!