Welcome to Float!
If you're here, you've already signed your business up for Float and completed the business and user verification process. If you haven't, head to welcome.floatfinancial.com to sign-up, and learn more about the Registration & Verification process here.
As a Float Administrator, you have full access to configure your Float account and ensure your team is ready to hit the ground running. This guide will walk you through the essential steps to get started, from setting up your bank connections to creating approval policies and setting up teams.
Let's dive into the tools and features that will help you get your Float account up and running efficiently. This article will go over the following processes:
Connect A Bank Account / Adding Funds
Create Users
Create Teams (Professional Plan)
Assigning and Editing Managers
Approval Policies
Submission Policies
How to Create Cards and Limits
Reimbursements
Bill Pay
Here's a quick demo of Float to get you oriented:
Getting Started
1. Connect A Bank Account / Add Funds
Float’s pre-funded program requires you to connect a bank account to load your account with funds in order to spend them across all cards on your account.
The funds in your account collectively form your business spending power. This is visible to all administrators on the funding and overview pages of your Float account. You must have sufficient business funds to process transactions.
How does Funding Work?
Connecting CAD Bank Accounts to Float
Connecting USD Bank Accounts to Float
2. Add Accounting Integration
Float provides built-in integrations for QuickBooks Online, Xero, and NetSuite (for Professional Plan users), enabling seamless syncing of Vendors, GL Codes, Tax Codes, Tags/Classes, and more.
For those who do not use QuickBooks Online, Xero, or NetSuite, these elements can also be added manually within Float.
3. Create Users
Float provides five predefined roles: Administrator, AP Clerk, Bookkeeper, Manager (professional plan only) and Spender. Assign the most suitable role to each User to give them the most appropriate level of control, custom to your organization.
Adding Users and Assigning Roles
User Roles in Float
4. Create Teams (Professional Plan)
Teams are a great way to manage different approval, submission and review policies for different teams! It allows admins to have the flexibility to manage spending workflows within Float while providing team managers with control over their team's budget.
Create Teams & Track Spending
5. Assigning and Editing Managers (Professional Plan)
Float now allows administrators to add direct managers when creating users. This allows finance teams to create dynamic approval policies that route to a user's direct manager as their approver, allowing for more flexibility within one policy!
Assigning and Editing Managers
6. Approval Policies
Approval Policies and Smart Approval workflows allow you to define and enforce your spending for users right within the Float platform! With policies in place, Spenders can submit their spend requests and reimbursements, triggering a custom approval workflow with one or more approvers. These policies can be customized based on a Team (professional plan), the amount requested, and whether it's a temporary or recurring expense.
Approval Policies Overview
7. Submission Policies
Submission policies allow you to create and enforce guidelines around what information is required for your Teams' expenses within Float. These policies can be customized based on specific teams and expenses such as travel, onboarding, benefits, etc. Submission Policies are part of Float's Expense Policy feature which allows you to implement your company's expense guidelines within Float.
Submission Policies Overview
Auto-Pausing Cards with Submission Policy Violations
Submission Policy Field Restrictions
8. How to Create Cards and Limits
These articles will go over how to create physical and virtual cards for your users to start spending on Float, as well as how to create or edit limits for each card.
Ordering Physical Float Cards (Admin Overview)
Creating Virtual Float Cards
Setting/Editing Limits on Float Cards
9. Reimbursements
Float's Reimbursements feature streamlines expense report management, providing an easy way to handle out-of-pocket expenses and mileage reports. This section will help you quickly get set up for reimbursements.
Getting Started with Reimbursements
Reimbursements Submission Policies
Adding Bank Details for Spenders (Admin Overview)
10. Bill Pay
Float’s Bill Pay is the simplest way to pay company invoices, allowing finance teams to eliminate tedious AP processes and save time by processing payments faster. You can manage all your spending in one easy-to-use platform from Float Card transactions to processing those larger invoices.
What is Float Bill Pay?
Setting Up Bill Pay
The Journey of a Bill, from Draft to Paid
What's Next?
Now that you’ve mastered the basics of Float, you're ready to introduce the platform to your team, begin spending, and streamline your month-end process with our Accounting Workflow!
Rolling Out Float to Users
Getting Started Guide for Spenders
Getting Started Guide for Managers
Getting Started Guide for Bookkeepers
Getting Started Guide for AP Clerks - coming soon!
Transaction Exports
Once users begin to spend on Float, Administrators and Bookkeepers will be able to begin reviewing and exporting transactions, reimbursements and bill payments.
Transaction Export Overview
Ongoing Account Maintenance
For guidance on ongoing maintenance tasks as an Admin, please be sure to explore the Administration of Your Business' Float Account section of our help centre.