Blog

5 New features for smarter spend management

May 29, 2024 8:00 PM

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Curious about what’s new in Extend

We’ve been hard at work the last few months and released new features and enhancements to continue to give you more control over company spend.

Let’s dive into the latest updates.

Automate reconciliation with the QuickBooks Online integration 

Closing the books just got easier with Extend's recently enhanced integration with QuickBooks Online. 

With this integration, you can forget about manually matching transactions, as you’ll automatically sync your chart of accounts between platforms. When you integrate with QuickBooks Online, your team can tag virtual cards and transactions with pre-populated expense codes in Extend to ensure consistent and accurate bookkeeping. Once transactions clear, you can push transaction data and receipt attachments to Quickbooks with a single click.

Business impact

Streamline month-end close for your finance team and get a comprehensive view of all company card spending. Harness more control and make data-driven decisions through Extend’s richer transaction data, including valuable virtual card metadata missing from traditional credit card statements. 

Free your team from tedious reconciliation with the Netsuite integration

If Netsuite is your accounting platform of choice, you can integrate it with Extend to streamline reconciliation and free up valuable time for your team. 

When you integrate with Netsuite, your chart of accounts will automatically sync, ensuring your Extend expense codes match your Netsuite general ledger.

Accurate bookkeeping becomes a breeze, and you gain a complete view of spending. You and your team can tag virtual card transactions with pre-populated expense codes in Extend and easily sync transaction and virtual card data, and receipt attachments to Netsuite in seconds. 

Business impact

Close the books faster. Not only will you eliminate manual data entry, but you’ll have more control over spend and richer data with which to make informed decisions.

Empower your team to request a budget and manage virtual cards 

Leverage team budgets in Extend for greater control and flexibility, and empower your employees to request a budget when they need funds for a specific team, project, location, client, or other business expense. 

Once you approve, they'll be able to create and manage their own virtual cards within the designated spending limit.

But don't worry about losing oversight! As a cardholder, you have complete visibility into how budget funds are spent. Plus, you can adjust spending limits and controls - anywhere, anytime. 

Business impact

Manage spending efficiently and securely, and ditch the high-risk practice of sharing plastic credit cards across the business. Cut down on approval time and empower your team with spending authority without sacrificing oversight and control. 

View real-time spend analytics on the home page

Extend's home page now features a powerful spend analytics dashboard, putting key spend insights front and center.

As an owner, admin, or bookkeeper, you'll see a six-month spend chart with breakdowns of total monthly virtual card spend, the current month's spending progress, and other key organization metrics, including: 

  • Total available credit across virtual cards
  • Active registered card accounts
  • Active virtual cards 
  • Active budgets

These home page enhancements go beyond equipping you with richer data. They also empower you and your team to streamline workflows and take quicker action by accessing alerts, requests, and approvals directly on the home page.

Business impact

Manage company spend more effectively. With access to richer data, you can make informed decisions, streamline approval workflows, and achieve greater control over your organization's finances. 

Strengthen security with card approval thresholds 

Add an extra layer of security and control to your virtual card program by setting up card approval thresholds.

Once the owner or an admin designates a card approver for a specific dollar amount, any virtual card created or updated that exceeds that threshold will automatically require additional approval from the card approver before it can be used.

For example, let's say you assign a card approver and determine that every virtual card over $25 requires additional approval. Here's how the approval process plays out:

  1. An employee requests a virtual card for $100 to cover a client's lunch.
  2. The request is sent directly to whoever it was requested from, such as a manager, for initial review.
  3. The "pre-approved" request then goes to the card approver, who can approve or reject it. If approved, the employee who requested the card can instantly access the funds.  
Business impact

Get deeper security, control, and visibility into virtual card spending. Ensure all spend aligns with company policies, prevent unauthorized purchases, and safeguard company funds.

Unlock the power of these features in Extend 

Ready to put these powerful features to use and fuel better spend management in your company? 

Existing Extend users: Log in to your account and explore the latest features and enhancements!

New to Extend? Get started here. 

Presented by

Dawn Lewis
Controller at Couranto

Bridget Cobb
Staff Accountant at Healthstream

Brittany Nolan
Sr. Product Marketing Manager at Extend (moderator)

Lisa Maris Richner

Vice President of Product
Blog

5 New features for smarter spend management

Virtual Card Spend
No items found.
Share post

Curious about what’s new in Extend

We’ve been hard at work the last few months and released new features and enhancements to continue to give you more control over company spend.

Let’s dive into the latest updates.

Automate reconciliation with the QuickBooks Online integration 

Closing the books just got easier with Extend's recently enhanced integration with QuickBooks Online. 

With this integration, you can forget about manually matching transactions, as you’ll automatically sync your chart of accounts between platforms. When you integrate with QuickBooks Online, your team can tag virtual cards and transactions with pre-populated expense codes in Extend to ensure consistent and accurate bookkeeping. Once transactions clear, you can push transaction data and receipt attachments to Quickbooks with a single click.

Business impact

Streamline month-end close for your finance team and get a comprehensive view of all company card spending. Harness more control and make data-driven decisions through Extend’s richer transaction data, including valuable virtual card metadata missing from traditional credit card statements. 

Free your team from tedious reconciliation with the Netsuite integration

If Netsuite is your accounting platform of choice, you can integrate it with Extend to streamline reconciliation and free up valuable time for your team. 

When you integrate with Netsuite, your chart of accounts will automatically sync, ensuring your Extend expense codes match your Netsuite general ledger.

Accurate bookkeeping becomes a breeze, and you gain a complete view of spending. You and your team can tag virtual card transactions with pre-populated expense codes in Extend and easily sync transaction and virtual card data, and receipt attachments to Netsuite in seconds. 

Business impact

Close the books faster. Not only will you eliminate manual data entry, but you’ll have more control over spend and richer data with which to make informed decisions.

Empower your team to request a budget and manage virtual cards 

Leverage team budgets in Extend for greater control and flexibility, and empower your employees to request a budget when they need funds for a specific team, project, location, client, or other business expense. 

Once you approve, they'll be able to create and manage their own virtual cards within the designated spending limit.

But don't worry about losing oversight! As a cardholder, you have complete visibility into how budget funds are spent. Plus, you can adjust spending limits and controls - anywhere, anytime. 

Business impact

Manage spending efficiently and securely, and ditch the high-risk practice of sharing plastic credit cards across the business. Cut down on approval time and empower your team with spending authority without sacrificing oversight and control. 

View real-time spend analytics on the home page

Extend's home page now features a powerful spend analytics dashboard, putting key spend insights front and center.

As an owner, admin, or bookkeeper, you'll see a six-month spend chart with breakdowns of total monthly virtual card spend, the current month's spending progress, and other key organization metrics, including: 

  • Total available credit across virtual cards
  • Active registered card accounts
  • Active virtual cards 
  • Active budgets

These home page enhancements go beyond equipping you with richer data. They also empower you and your team to streamline workflows and take quicker action by accessing alerts, requests, and approvals directly on the home page.

Business impact

Manage company spend more effectively. With access to richer data, you can make informed decisions, streamline approval workflows, and achieve greater control over your organization's finances. 

Strengthen security with card approval thresholds 

Add an extra layer of security and control to your virtual card program by setting up card approval thresholds.

Once the owner or an admin designates a card approver for a specific dollar amount, any virtual card created or updated that exceeds that threshold will automatically require additional approval from the card approver before it can be used.

For example, let's say you assign a card approver and determine that every virtual card over $25 requires additional approval. Here's how the approval process plays out:

  1. An employee requests a virtual card for $100 to cover a client's lunch.
  2. The request is sent directly to whoever it was requested from, such as a manager, for initial review.
  3. The "pre-approved" request then goes to the card approver, who can approve or reject it. If approved, the employee who requested the card can instantly access the funds.  
Business impact

Get deeper security, control, and visibility into virtual card spending. Ensure all spend aligns with company policies, prevent unauthorized purchases, and safeguard company funds.

Unlock the power of these features in Extend 

Ready to put these powerful features to use and fuel better spend management in your company? 

Existing Extend users: Log in to your account and explore the latest features and enhancements!

New to Extend? Get started here. 

Blog

5 New features for smarter spend management

Author
Lisa Maris Richner
Vice President of Product
Virtual Card Spend
No items found.
Share post

Curious about what’s new in Extend

We’ve been hard at work the last few months and released new features and enhancements to continue to give you more control over company spend.

Let’s dive into the latest updates.

Automate reconciliation with the QuickBooks Online integration 

Closing the books just got easier with Extend's recently enhanced integration with QuickBooks Online. 

With this integration, you can forget about manually matching transactions, as you’ll automatically sync your chart of accounts between platforms. When you integrate with QuickBooks Online, your team can tag virtual cards and transactions with pre-populated expense codes in Extend to ensure consistent and accurate bookkeeping. Once transactions clear, you can push transaction data and receipt attachments to Quickbooks with a single click.

Business impact

Streamline month-end close for your finance team and get a comprehensive view of all company card spending. Harness more control and make data-driven decisions through Extend’s richer transaction data, including valuable virtual card metadata missing from traditional credit card statements. 

Free your team from tedious reconciliation with the Netsuite integration

If Netsuite is your accounting platform of choice, you can integrate it with Extend to streamline reconciliation and free up valuable time for your team. 

When you integrate with Netsuite, your chart of accounts will automatically sync, ensuring your Extend expense codes match your Netsuite general ledger.

Accurate bookkeeping becomes a breeze, and you gain a complete view of spending. You and your team can tag virtual card transactions with pre-populated expense codes in Extend and easily sync transaction and virtual card data, and receipt attachments to Netsuite in seconds. 

Business impact

Close the books faster. Not only will you eliminate manual data entry, but you’ll have more control over spend and richer data with which to make informed decisions.

Empower your team to request a budget and manage virtual cards 

Leverage team budgets in Extend for greater control and flexibility, and empower your employees to request a budget when they need funds for a specific team, project, location, client, or other business expense. 

Once you approve, they'll be able to create and manage their own virtual cards within the designated spending limit.

But don't worry about losing oversight! As a cardholder, you have complete visibility into how budget funds are spent. Plus, you can adjust spending limits and controls - anywhere, anytime. 

Business impact

Manage spending efficiently and securely, and ditch the high-risk practice of sharing plastic credit cards across the business. Cut down on approval time and empower your team with spending authority without sacrificing oversight and control. 

View real-time spend analytics on the home page

Extend's home page now features a powerful spend analytics dashboard, putting key spend insights front and center.

As an owner, admin, or bookkeeper, you'll see a six-month spend chart with breakdowns of total monthly virtual card spend, the current month's spending progress, and other key organization metrics, including: 

  • Total available credit across virtual cards
  • Active registered card accounts
  • Active virtual cards 
  • Active budgets

These home page enhancements go beyond equipping you with richer data. They also empower you and your team to streamline workflows and take quicker action by accessing alerts, requests, and approvals directly on the home page.

Business impact

Manage company spend more effectively. With access to richer data, you can make informed decisions, streamline approval workflows, and achieve greater control over your organization's finances. 

Strengthen security with card approval thresholds 

Add an extra layer of security and control to your virtual card program by setting up card approval thresholds.

Once the owner or an admin designates a card approver for a specific dollar amount, any virtual card created or updated that exceeds that threshold will automatically require additional approval from the card approver before it can be used.

For example, let's say you assign a card approver and determine that every virtual card over $25 requires additional approval. Here's how the approval process plays out:

  1. An employee requests a virtual card for $100 to cover a client's lunch.
  2. The request is sent directly to whoever it was requested from, such as a manager, for initial review.
  3. The "pre-approved" request then goes to the card approver, who can approve or reject it. If approved, the employee who requested the card can instantly access the funds.  
Business impact

Get deeper security, control, and visibility into virtual card spending. Ensure all spend aligns with company policies, prevent unauthorized purchases, and safeguard company funds.

Unlock the power of these features in Extend 

Ready to put these powerful features to use and fuel better spend management in your company? 

Existing Extend users: Log in to your account and explore the latest features and enhancements!

New to Extend? Get started here. 

Blog

5 New features for smarter spend management

Presented by

Lisa Maris Richner

Vice President of Product

Curious about what’s new in Extend

We’ve been hard at work the last few months and released new features and enhancements to continue to give you more control over company spend.

Let’s dive into the latest updates.

Automate reconciliation with the QuickBooks Online integration 

Closing the books just got easier with Extend's recently enhanced integration with QuickBooks Online. 

With this integration, you can forget about manually matching transactions, as you’ll automatically sync your chart of accounts between platforms. When you integrate with QuickBooks Online, your team can tag virtual cards and transactions with pre-populated expense codes in Extend to ensure consistent and accurate bookkeeping. Once transactions clear, you can push transaction data and receipt attachments to Quickbooks with a single click.

Business impact

Streamline month-end close for your finance team and get a comprehensive view of all company card spending. Harness more control and make data-driven decisions through Extend’s richer transaction data, including valuable virtual card metadata missing from traditional credit card statements. 

Free your team from tedious reconciliation with the Netsuite integration

If Netsuite is your accounting platform of choice, you can integrate it with Extend to streamline reconciliation and free up valuable time for your team. 

When you integrate with Netsuite, your chart of accounts will automatically sync, ensuring your Extend expense codes match your Netsuite general ledger.

Accurate bookkeeping becomes a breeze, and you gain a complete view of spending. You and your team can tag virtual card transactions with pre-populated expense codes in Extend and easily sync transaction and virtual card data, and receipt attachments to Netsuite in seconds. 

Business impact

Close the books faster. Not only will you eliminate manual data entry, but you’ll have more control over spend and richer data with which to make informed decisions.

Empower your team to request a budget and manage virtual cards 

Leverage team budgets in Extend for greater control and flexibility, and empower your employees to request a budget when they need funds for a specific team, project, location, client, or other business expense. 

Once you approve, they'll be able to create and manage their own virtual cards within the designated spending limit.

But don't worry about losing oversight! As a cardholder, you have complete visibility into how budget funds are spent. Plus, you can adjust spending limits and controls - anywhere, anytime. 

Business impact

Manage spending efficiently and securely, and ditch the high-risk practice of sharing plastic credit cards across the business. Cut down on approval time and empower your team with spending authority without sacrificing oversight and control. 

View real-time spend analytics on the home page

Extend's home page now features a powerful spend analytics dashboard, putting key spend insights front and center.

As an owner, admin, or bookkeeper, you'll see a six-month spend chart with breakdowns of total monthly virtual card spend, the current month's spending progress, and other key organization metrics, including: 

  • Total available credit across virtual cards
  • Active registered card accounts
  • Active virtual cards 
  • Active budgets

These home page enhancements go beyond equipping you with richer data. They also empower you and your team to streamline workflows and take quicker action by accessing alerts, requests, and approvals directly on the home page.

Business impact

Manage company spend more effectively. With access to richer data, you can make informed decisions, streamline approval workflows, and achieve greater control over your organization's finances. 

Strengthen security with card approval thresholds 

Add an extra layer of security and control to your virtual card program by setting up card approval thresholds.

Once the owner or an admin designates a card approver for a specific dollar amount, any virtual card created or updated that exceeds that threshold will automatically require additional approval from the card approver before it can be used.

For example, let's say you assign a card approver and determine that every virtual card over $25 requires additional approval. Here's how the approval process plays out:

  1. An employee requests a virtual card for $100 to cover a client's lunch.
  2. The request is sent directly to whoever it was requested from, such as a manager, for initial review.
  3. The "pre-approved" request then goes to the card approver, who can approve or reject it. If approved, the employee who requested the card can instantly access the funds.  
Business impact

Get deeper security, control, and visibility into virtual card spending. Ensure all spend aligns with company policies, prevent unauthorized purchases, and safeguard company funds.

Unlock the power of these features in Extend 

Ready to put these powerful features to use and fuel better spend management in your company? 

Existing Extend users: Log in to your account and explore the latest features and enhancements!

New to Extend? Get started here. 

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