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How to create and manage cards and transactions?

Manage, configure and get control of your cards and transactions

How to register a card?

  1. Head to Finance, located in the sidebar menu
  2. Select Cards

The Add new card option is disabled until an expense account is created for the organization.

 

Once you create an Expenses account, you will be redirected to a page powered by Stripe where you will be providing the details of your finances (e.g. business details).

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Creating a card

❗️For each card you create, you can decide whether you want to create a physical card (plastic card), a virtual card, or a single-use card.

 
  1. Head to Finance, in the sidebar menu and open the tab Cards
  2. Click on + Add new card
  3. Choose the card type (single-use, virtual or physical) and fill in the necessary information
new card

 

Card configuration setup

  1. Choose one card and click on the icon with the arrow
card details

In this page you will find:

  • Card Details: only the last 4 digits of the credit card show up for security matters. Factorial will provide physical card types.
  • Balance: current balance, spending status, and reset period.
  • Card controls: define how much, how often, and where payments can be made with this card. By using advanced card controls, you will have full control and automation over your company expenditure:
    • Amount
    • Time frame
    • Merchant category

🚨 Card controls feature is only available for Enterprise Plan.

 

 


 

How to manage a card?

You can reactivate, deactivate, or cancel your card according to the status.

❗️Deactivating a card stops its use temporarily until it is activated again, and canceling a card deletes the card forever.

 

 

There are two ways:

  • From the Cards menu:
  1. From Cards
  2. Search for the card you want to deactivate or cancel
  3. Click on the three dots (…) aside from the status
  4. Depending on the status different options will appear. In the case the card is Active, you can choose between Deactivate card or Cancel card. If the card is Inactive, you can choose between Reactive card or Cancel card.

❗️ If the status of your card is Pending, you can cancel it from here.

 
status

 

  • From your card’s settings
  1. Select a card
  2. Click on the arrow aside from the three dots
  3. Choose the option according to the status
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❗️ If the status of your card is Pending, you can Activate it from here.

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How to manage permissions for cards and transactions?

  1. From the All Permissions section, in the Settings page
  2. Select Expenses
  3. Add the permissions to the profiles you want to involve (Admins, Finance team leaders, and Accountants)
  4. If everything is ok, click on Save changes
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Card payments notifications

You can enable card payment notifications within your profile:

  1. On your sidebar, click on your Name
  2. Select Notifications
  3. Scroll down to Expenses
notifications-2

Here, you can enable two types of card payment notifications:

  • Available balance warning: you will receive an email and a notification when you are about to reach the card limit or if you have already exceeded it. Factorial sends these notifications for both physical and virtual multi-use cards. Single-use cards are excluded.
available balance warning
  • Payment declined: you will receive a push and email notification when a card payment is declined for three reasons:
    1. Spending controls are blocking this payment (due to amount or category)
    2. Not enough available balance in the specific card being used
    3. Not enough available balance in the general card account

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