Virtual vendor cards enable finance and procurement to gain control as well as visibility over subscriptions and digital services by allowing you to centralise and limit payments to one or a group of vendors.
This article covers:
This feature is accessible as part of the Advanced subscription plan and available in the Pleo web app. See where you can adjust your plan here.
How to create a virtual vendor card
To create your virtual vendor card follow the below instructions:
On the left hand menu, click Vendor cards.
In the top right hand side of the page click the create vendor card button.
Enter a card name. Eg, Marketing subscriptions.
Select the card owner.
Select the card limit (No limit, weekly or monthly) and the limit amount.
Optional: Add a vendor lock - meaning only transactions from vendors within the vendor lock are allowed
Click create vendor card.
Good to know
Only Admins can create and edit virtual vendor cards.
The card details are only visible to the card owner of the card.
Virtual vendor cards always need an owner assigned to the card.
How to edit a virtual vendor card
To edit your virtual vendor card follow the below instructions:
On the left hand menu, click Vendor cards.
Locate and click on the relevant card from the list of available vendor cards.
In the card management pop up you can edit the card name, owner and limits. This is also where you can freeze the card and check card activity.
Good to know
On the activity feed you can see a full audit trail of the cards history including transactions, who/when it was last edited and was the owner of the card.
Default tagging
To make recurring expenses even easier you can set a default category, tag, and team, for each virtual vendor card which then is set for every expense made.
Card owners can see the rules that are set on the My Cards page.
Deleting a virtual vendor card owner
One of the perks of virtual vendor cards is being able to clearly separate business spend from employee spend. When an employee leaves you can adjust spending limits or change cardholders all without cancelling subscriptions or campaigns.
The deletion process is almost exactly the same as within this article: How to invite and delete users in Pleo. The main difference is before deleting a user who is an owner of virtual vendor card you will be asked to reassign the ownership of the card (as the card always needs an owner) or if you would like the card to be deleted.
Foreign currency limits
If you're planning to manage your expenses in a currency that's different from your wallet's currency, you have the option to set a specific card limit in that currency.
For example, let's say you have a vendor card named "Marketing subscriptions" for a monthly subscription costing 250 USD, by setting a card limit of 300 USD, instead of the EUR equivalent, your monthly expense of 250 USD will show up as a ratio of 250/300 USD. This makes it easier to quickly identify any variations in spending.
Good to know
It's important to note that even though the card limit is in a different currency, the currency of your wallet (where the money comes from) remains unchanged. Eg, If you make a 100 USD purchase using a EUR wallet, the amount will be converted to EUR before being deducted.
To ensure accuracy, we update the equivalent of the foreign currency limit into your wallet's currency on a weekly basis. For instance, if you set a 100 USD limit, it might be worth 92 EUR one week and then updated to 93 EUR the following week. This system maintains an accurate record of the remaining funds available for spending on that card, even when dealing with different currencies between the limit and your wallet.
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