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Learn how to manage, approve and analyze all the expenses of your company as an Administrator.
- Installing Expenses
- Settings for Approvals
- Settings for your Expenses & Bank Account
- Adding Cards to Employees
- Approving and Rejecting Expenses
- Which Permissions can I grant?
How to install the app
- Head to Applications
- Scroll until you find Expenses
- Click on Install App
Settings for Approvals
👥 We created an approval group that helps you to better define who can approve or reject expenses. Not only admins but also managers or employees can now be assigned as approvers.
- Head to Apps > Expenses > Settings
- Access the default approval group by clicking on the →.
- You can edit the title and description.
- Scroll to approval flow and assign an approver by clicking on (...) > edit approval level
- You can assign specific employees or ones with a relative role, like manager or time off supervisors.
⁉️ Who can approve my company's expenses?
- User: The specific user you select will be the one approving every expense.
- Relative Role > Manager: Each manager is enabled to approve the expenses of their subordinates. In case that an employee doesn't have an assigned manager the first admin will automatically be entitled to approve their expenses.
- Relative Role > Time off supervisor: The time off supervisor of each employee will be able to approve their expenses.
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Approval groups > the Employees tab
The tab shows the employees assigned to this approval group.
- Open an approval group by clicking on →
- To add employees click on + 📍 in the top right corner.
Settings for your Expense & Bank Account
👀 Once the bank account is created, the view of expenses account information will be visible. However, if no bank account is created only the view of approval permissions will be visible.
💡Factorial collaborates with Stripe for the creation of the accounts. This means that Stripe will create the account for you and it will deliver the credit cards to you. Factorial will take care of the whole process and will ensure everything is set up and ready.
🔗 For that reason you will be redirected to the Stripe page to fill all the account information. This will be a very similar process as per the creation of any bank account. Therefore, we will need some special information from you.
- Insert information about expense account information
- In order to provide information you must click on the pen logo that will redirect you to a Stripe page where you will provide all the information regarding the expenses account
- Provide details to bank account
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How can I Register a Credit Card to my Expenses?
- Head to Expenses
- Select Cards
👀 The Add new card option is disabled until an expenses 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) or if you prefer a virtual card.
- Head to Expenses and open the tab Cards
- Click on + Add new card
- Choose your card type (plastic or virtual) and fill in the necessary information
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Card configuration set up
- Choose one card and click on the icon with the arrow
- 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: define card controls for certain amounts and avoid employees spending more than allowed by setting an amount card limit to the card.
- Time frame: define card controls for certain intervals of time (day, week, month, year…) and avoid unexpected payments that haven’t been forecasted for the desired period (day, week, month, year…).
- Merchant category: define card controls in certain categories and avoid unexpected payments and transactions in commerces that are not compliant with your business structure.
🚨 Card controls feature is only available for Enterprise Plan.
What options do I have for my cards?
- Deactivating a card: Deactivating a card stops its use temporarily until it is activated again.
- Canceling a card: Canceling a card deletes the card forever.
- By pressing on (...) you have the option to deactivate or cancel a card
How do I Add a Card for an Employee?
- Head to Cards section
- Click on +Add new card
💡You can use filters to sort out the different cards (e.g. active vs. deactivated).
How do I activate a card?
☝🏽An employee can deactivate a card but they may not activate it.
- Click on (...)
- Press on Activate a card
How do I deactivate a card?
- Click on (...)
- Press on Deactivate card
How does the Approver Approve or Reject an Expense?
Only the approver assigned may approve or reject an expense for employees. Employee are not capable of approving or rejecting the expenses.
✉️ Anytime an expense has been approved or rejected, the employee(s) will receive a notification about the expense.
- Click on (...)
💡You can select multiple employees to approve or reject their expenses.
Which Permissions can I assign?
🔓 Giving permissions for the expense app will give you the possibility to determine the access to this function for your whole company.
How to access permissions:
- Company > More > Permissions
- Open a permission group
- Scroll to Expenses to find all the permissions you can grant for expenses.
Which permissions can I grant?
