With the Smart Spend Card from WAY2VAT, your business can control spending while eliminating bureaucracy from the process while easily recovering local and foreign VAT.
The Spend Card is a debit card issued by Mastercard and can be used to make purchases anywhere Mastercard is accepted. The accompanying app notifies employees to scan receipts, so documentation is never lost.
Administers can control budgets, place spending caps, and limit payments to approved vendors through a powerful, customizable rules engine.
The card is designed to help you manage subscriptions, streamline accounts payable, and improve travel expense processes with full control, compliance, and visibility.
How it Works
1) Set spending controls per employee based on company policy
2) Employees make purchases, and receive notification to scan receipt
3) System automatically reconciles the invoice to the expense
4) System automatically analyzes and sorts expenses into categories
5) System automatically generates local VAT report and submits documentation to foreign tax authorities
6) VAT is refunded directly to your account
What the Spend Card includes:
- Physical and digital versions of the Spend Card
- Full access to all management tools
- Full dashboard access
- Automated local and foreign VAT reclaim
- Receipt and invoice management tools
- Reporting
- Expense and reimbursement tracking
- Automatic reconciliation between invoices and expenses