Managing business expenses with fire.com
August 13, 2018
There is little doubt that the effective control and management of business expenses is a key objective for organisations of all sizes – from start-ups to large corporates. Keeping business expenses under control can help in identifying where money is being spent, reduce manual reconciliation and errors, and make it easier for everyone involved. One of the best ways to help better manage business expenses is to ensure that all transactions are correctly recorded and assigned to the right people, accounts and projects.
More and more of our business customers are now using fire.com to help better manage their business expenses.
With a fire.com business account, it is possible to create multiple users, accounts and debit cards, so a business can link staff to specific accounts and cards. For example, a business could order debit cards for all members of a team and have all their expenses come out of the same business account. A business might also opt to open an account and order a new debit card for each member of staff – each account with its own sort code & account number or IBAN. Either way, a business can set up a fire.com account in a way that best suits their structure.
Businesses can instantly transfer funds (sterling and euro) to staff expense accounts directly from their main fire.com business account. For added control and security, the firework mobile app enables users to receive a notification for each transaction made and to block and unblock lost debit cards.
If you are the CEO of a start-up or the Finance Manager of a large business, a fire.com business account will allow you better track and control staff and project expenses. You can manage how much is being spent, and what is being spent – where and by who, all in real time.
Thousands of businesses in the UK and Ireland are now using a fire.com digital account as an alternative to a traditional business current account. With fire.com there are also no setup or ongoing monthly fees.
Additionally, the flexibility and control offered by a fire.com business account make it an excellent choice for those seeking a bank account for the self-employed. This type of account is ideal for independent professionals and solo entrepreneurs who require efficient expense management and financial oversight, mirroring the needs of larger businesses but on a scale suited for individual operation.
Colm Lyon, CEO fire.com