Float's Reimbursements feature streamlines expense report management, providing an easy way to handle out-of-pocket expenses and mileage reports. Users can submit requests with our easy-to-use platform and can be paid out directly through your Float cash balance.
Spenders can submit multiple expenses within one report, attach receipts, and submit them for approval. Administrators can easily approve reports, schedule direct payouts, and export reports directly into your accounting software.
This article will provide you with a high-level overview of Reimbursements. For a detailed set-up guide, please review our Help Centre article below:
How do Reimbursements work?
- Create a Report, Add Expenses, Submit for Approval: Create reports and add expenses directly in the Float mobile app or the web app (app.floatfinancial.com). Float uses advanced AI and OCR capabilities to scan receipts and automatically enter data (i.e., amount, tax amount, vendor) into your report
- Approve Requests: Set custom approval workflows so reimbursement reports are approved by the right people in your organization. You can use multi-level dynamic approvals and set up multiple types of approval policies for different teams
- Payout Users Directly: Easily schedule direct payouts in CAD and USD to users with connected personal bank accounts in Float
- Accounting Software Integration for Exporting: Automatically sync reimbursement reports directly to QBO, Xero, and NetSuite, or export a CSV to import directly into your accounting software. GL codes, Tax codes, and more are mapped to your Chart of Accounts in Float to be easily applied and synced