Sometimes paying with a card doesn't cut it, you might find yourself in a taxi that doesn't take card payments or you have a Mileage expense. Don't worry, for those cases, we got you, with Pleo Pocket.
What is Pleo Pocket?
Simply put, Pleo Pocket is the place where you keep track of money owed between the employee and the company.
How can I enable Pleo Pocket?
Open the Pleo web app and go the menu and click Pocket
Select Learn more on the banner to start.
Follow the steps to complete the set up
Done! Now employees can submit their out-of-pocket expenses
Your Contra Account for Pocket Expenses is the account number used for pocket expenses in your chart of accounts and this is where these expenses will be exported to, so you can keep track of the wallet balance and pocket balance separately.
What happens when an employee submits a pocket expense?
Once an employee submits an expense via the mobile app, it will be visible to you, the admin via the Pocket page.
Tracking and reviewing pocket expenses:
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.
Get even! Settling the Pocket balance
No more additional bank transfers or payroll amendments – it's all paid directly from your Pleo wallet. Team members can now add their personal credit or debit card and instantly settle the balance. See how an employee can settle the balance via card.
OR You can also settle the balance manually
If you wish to continue to manually handle reimbursements, this is possible via the following steps:
Click on the employee to view Pocket expenses
Select Settle Balance and choose a payment method
The method selected will happen outside of Pleo, but will be recorded in the export page as a line item to ensure the Pocket expenses are balanced.
Finally! Export your 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.
FAQ's for Admins
Can I reimburse employees from the wallet as an admin or reviewer?
Not as of today. Having the employees arrange their own reimbursements is expected to create the least overhead.
Will the employee also be able to resolve a Pocket balance where they owe the company?
Not just yet, but it's functionality we want to add in the near future.
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.
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