Sometimes paying with a card doesn't cut it. You might find yourself in a taxi that doesn't take card payments. Or you want to be reimbursed for having used your own car for a work trip. For situations likes these, we got you covered with Pleo Pocket.
What is Pleo Pocket?
Pleo Pocket lets you keep track of money owed between an employee and the company.
How to enable Pleo Pocket
Please keep in mind that it's not possible to disable Pocket once it's been activated.
Open the Pleo web app and go the menu and click Pocket.
Click Learn more.
Follow the on-screen steps to complete the set up. You will be asked for a contra account number to be used for Pocket expenses in your chart of accounts. When you export expenses from Pleo to your accounting system, this contra account number is where Pocket expenses will end up. This will make it easier to keep track of the Wallet balance and Pocket balance separately.
How to submit a Pocket expense
Whether you're an employee or an admin who's spent their own money on something work-related, here's how to submit a Pocket expense and get reimbursed to a personal card.
Who can see Pocket expenses?
Admins can see all Pocket expenses.
By default, external bookkeepers (on both basic and extended access) can see Pocket expenses but cannot settle balances. But admins can choose to grant them access.
Employees can only see their own Pocket expenses. Unless they're a reviewer.
Admins can set up review thresholds and elect reviewers for Pocket expenses. In the example shown in the below image, Aoife and Chris are reviewers for team Sales UK. Aoife will need to review any Pocket (or card) expense over 20 pounds, whereas Chris only needs to review the bigger expenses (over 500 pounds).
How to track and review Pocket expenses
Admins (and bookkeepers who've been granted access) can view the Pocket page. Pocket expenses will also pop up in the Expenses page, which is where any revisions are made. In the Pocket page:
Click on the employee who has expenses submitted on the Outstanding tab in Pocket.
Scroll through and click on the individual expenses.
Every employee has a balance attached to them based on the accumulation of expenses submitted or owed (if they withdraw cash).
All Pocket expenses include category, notes, tags and receipts, just like the card expenses.
Expenses still awaiting review will not be added to the balance owed until it has been approved, so it is important to ensure you set up the adequate review threshold in the teams page.
How can I reimburse a Pocket expense?
Personal card reimbursements
Enable card reimbursements by clicking on the feature in the Pocket page. When setting up this option, Pleo will nudge you to set up any review thresholds. Follow those steps if you want to approve Pocket expenses before someone can reimburse themselves to a personal card.
Once enabled, employees can reimburse themselves to a personal credit or debit card by going through the steps in the mobile app. There is a 500 GBP/Euro limit for card reimbursements though. So it's a good idea for employees to reimburse themselves regularly so that the amount owed doesn't go above the limit.
Settle the balance manually
If you've decided to settle a Pocket balance outside of Pleo (e.g., via bank transfer), here's what to do:
In the Pleo web app, go to the Pocket page,
Click on the employee whose balance needs to be settled.
Click on Settle Balance and choose a payment method
This will be recorded in the Export page as a line item to ensure that Pocket expenses are balanced out in your accounting system.
How to export Pocket expenses
Just like card expenses, every pocket expense will have a category attached to connect with your chart of accounts, however the difference here is these expenses will be allocated in your Pleo Pocket account in your selected accounting system.
How to export reimbursements:
Reimbursements will show up in your export page as "Pocket transfers". When exporting, the item will reflect a movement of funds from your Pleo Wallet account to your Pleo Pocket account in your accounting system.
Can I reimburse employees to their cards directly from the Wallet?
Once a Pocket expense has been submitted (and reviewed as okay, if relevant), it's up to the employee to reimburse themselves to their personal card. Why can't an admin or reviewer trigger a card reimbursement? A few practical reasons are that:
The employee might not have added their card info yet.
The info has been entered, but the card has since expired.
The bank that's connected to the card might send out a push notification before letting a card reimbursement through.
With these things in mind, it makes sense to put the onus on the employee.
If an employee owes the company money (e.g., they paid with their Pleo card and then marked the expense as personal), how is this resolved?
It's not currently possible to, for example, take money from the employee's personal card. As an admin or bookkeeper managing Pocket expenses, in this scenario you can choose to:
Wait until the employee submits a Pocket expense that negates the money they owe to the company, or
Settle the balance outside of Pleo (e.g., deducting what's owed from a pay slip).
Are there any fees involved with card reimbursements?
There is a transaction fee of 0.9% of the amount with a max of 1 GBP per reimbursement (i.e., whichever is lower will be the fee).