New! Sync your expenses and receipts from Float to NetSuite

Did you know? Float has Canada’s most powerful accounting integrations! Along with Xero and QBO, our platform is now compatible with NetSuite and allows growing companies to close their books even faster with their accounting software of choice. 

Float users can create cards for all of their company spending and automatically code transactions with GL codes and vendors, as well as export them to NetSuite with embedded receipts. 

How it works 

✅ Import accounts, vendors and tax rates, classifications, departments, and locations into Float from NetSuite

✅ Code transactions with GL codes, vendors, classifications, departments, locations and tax rates 

✅ Export coded transactions into NetSuite as journal entries with the relevant accounting data

Our features 

Float allows you to close your books in NetSuite faster and automate tedious manual accounting tasks. We do this by enabling you to: 

👩🏽‍💻 Create Merchant Rules that automatically applies GL codes to certain vendor transactions 

💳 Use Submission Policies to assign GL codes to cards they are created 

💰Bulk update hundreds of transactions for purchases that have similar accounting settings 

🧾 Automatically remind employees to submit receipts and assign their own GL codes to transactions 

Watch our team export a transaction from Float to Netsuite in the video below to see our new integration in action.

Using the above features makes for easy month end reconciliations because you can simply have every transaction made on a Float card be automatically coded and matched with receipts for easy export to your NetSuite.

If you are not yet a Float customer, learn more by booking a demo with our friendly sales team.

Dynamic Duo: Submission and Approval Policies

Fact: Expense policies aren’t always the easiest for employees to understand or follow. From chasing people down for receipts to reconciling transactions for days on end, it’s no wonder the finance team limits corporate spending to a select few.

Plot twist. Float’s about to change the game.

Float allows you to set boundaries for corporate spending directly on Float Cards themselves, with automated rules for transactions that reflect your company’s expense guidelines.

Our new Submission Policies feature lets you create custom policies by expense type and select which transaction information employees are required to submit after a purchase is made, like receipts and accounting codes.

Paired with Float’s multi-level Approval Policies, that allow you to automatically route spend requests to dynamic manager roles and individuals, this unstoppable duo automates and digitizes your company’s expense policies.

Available to Professional users, Admins can create unlimited Submission and Approval Policies that reflect internal company guidelines around corporate spending – such as travel, work from home benefits and entertainment policies. Or, keep things simple with a single Default policy to apply company-wide.

How It Works

Employees request to make a purchase directly in Float, either as a Temporary limit increase for a purchase on an existing card or a new virtual card for a vendor or one-time purchase. Managers are then alerted via email or Slack to approve, edit, or deny the request. If approved, the Spender is notified immediately of their new card details.

When a cardholder makes a purchase on their Float Card, they will be instantly reminded via text, Slack, or email, to upload their receipt along with the information your company requires, like vendors, GL codes, or purchase descriptions. Event better? You can limit the information each cardholder sees when submitting their expense so it’s easy for them to code it themselves.

Float’s new Submission Policies paired with our Approval Policies’ multi-level approval flows make managing team spending a breeze by:

💳 Empowering employees to comply with spending policies

Float allows you to set boundaries for corporate spending with automated rules for transactions that reflect your company’s expense guidelines. You can also define what information is required under specific policies, including receipts and accounting codes. 

🙌🏻 Making month-end a breeze for your finance team 

Float lets you apply specific GL codes to transactions, while encouraging spenders to categorize their transactions so your finance team doesn’t have to. Finance teams no longer have to chase employees down or search for missing information for hundreds of expenses.

If you’re interested in learning more about Float’s complete business spend management solution, check out our Guide to Spend Management.

Excited to see how this new feature works? Login to create your Submission Policies or book a demo with us today! 

Float’s New Smart Corporate Cards Are Here!

With many teams back on the road and in action, our new smart physical corporate cards couldn’t have come at a better time. With enhanced tap functionality paired with speedy spend approvals — Float cards are making real-world business spending easy and better than ever before. 

These new cards empower on-the-go business spending for expenses like:

✈️  Travel (hotels, meals, car rentals and fuel)

💆🏼‍♀️  Monthly employee benefits

🍩  Snacks for the office 

☕️  Monday morning coffee runs 

🤩  And so much more!

Float also allows you to spend in style! 😎 Our new physical cards are made from premium materials in a matte and gloss black finish – a professional and sleek addition to your wallet that you’ll always want to use. 😉

Corporate credit cards on another level ⚡️

Corporate cards have played a crucial role in daily business spending for decades – and so we sought to give them an upgrade! We’re all familiar with traditional corporate cards such as your standard physical Visa or AMEX — the ones that get shared around the office, or even worse, over Slack or email. 🙄 These traditional cards typically come with high monthly fees and very rarely give finance teams any insight or control of company spending. 

At Float, we do things a lot differently. We give companies access to high-limit, hassle-free physical (and virtual) corporate cards integrated with smart spend management software — ultimately giving finance teams greater spend control. Float not only boosts your spend visibility, but it completely eliminates the need for card sharing across your organization. That’s right! You can issue an unlimited amount of cards to employees as needed! 🎉

Physical vs. virtual smart corporate cards 💳

Float’s physical and virtual cards are essentially the same but serve two different purposes:

  • Physical cards are great for real world, on-the-go expenses. You can issue these to anyone within your company with smart functionality like spend limits and automated approval flows.
  • Virtual cards are perfect for online purchases, whether they’re one-time or recurring transactions. Float even allows you to categorize your virtual cards by vendor — like your monthly software subscriptions! 💰 

Smart corporate cards are for everyone 🤝

Traditionally, corporate cards were limited to C-suite team members, executives and founders –  often leaving other employees to use their personal credit cards to make business purchases and be reimbursed at a later date. Red flag 🚩 This “traditional” way of doing things can be a major roadblock when you’re trying to grow and scale.

At Float, we don’t discriminate against corporate spenders. If you’re using Float’s professional plan, you’ll have access to free unlimited physical and virtual cards that can be distributed across your entire company – with no monthly fee. Our automated spend management software also gives managers and finance teams the ability to set spend limits, enforce greater receipt compliance and have full visibility and control over daily spending in real time.

Use your Float card anytime, anywhere 🌍 

Float’s smart corporate cards can be used anywhere that accepts a traditional credit card. We run on the VISA network which means merchants can treat your Float card just like any other card they’re used to. They’re easily accessible, offer high-limits and come with a hassle-free experience from start to finish. No credit checks or personal guarantees needed!

If you’re an existing Float customer, just log into your account and order your new Float cards today. If you’re not a Float customer, become one today 👊🏻 Book a demo or sign up for free!

Product News: Introducing Float’s Slack Integration Feature

Float launched an integration feature that enables users to connect their financial workflows right within Slack. Companies can easily manage their spend and approval processes directly in their internal chats, making it convenient for all departments within the organization. From approving a corporate card to requesting spend, all of it can be done in a matter of minutes. 🤩 We’ve also moved all our notifications into Slack so that you can ditch those lengthy email threads and have interactive engagements using our Slackbot.

Removing any friction from your financial workflows

We always knew that to create the ultimate spend management product of the future, we needed to build an integrated experience that removed as much friction from your financial workflows as possible. ✅ To be successful, we needed to meet our users where they were already spending a lot of their time – on Slack.

Our Slack integration feature allows us to better serve companies with distributed teams by giving them the power to embed their financial workflows within their existing communication channels. So, if you’re operating in a hybrid workplace where some employees are working from home, you can easily approve spend requests and ensure seamless financial communication across all departments. 💸

Users will also get reminders and notifications through Slack when they’re missing receipts and other important information.

Creating a simple onboarding process 👩🏽‍💻

We recognize that onboarding your employees and getting them acquainted with your financial tools and processes isn’t always a smooth transition. The main purpose of Float’s Slack integration feature is to make it easy for spenders in your company to understand, adopt and comply with your financial processes and tools. Given that most people know how to use Slack, getting started with Float is nothing less than seamless.

Spenders can easily submit their spend requests by typing ‘/spend’ directly in Slack. Managers then have the ability to approve or decline requests directly from the Float App within Slack. Managers can also create a shared channel for upcoming top ups and notify the team when they arrive.

Promoting a healthy spending culture 💸

Our Slack integration feature allows companies to manage corporate spending in a more efficient, transparent and quicker way. Since everything is done in one single tool, managers have greater visibility and control over spending, while employees are empowered to make business purchases easily and responsibly. With the ability to view spending frequency data and communicate directly through Slack, this integration enables employees and departments to improve the way they share financial information.

Our team at Float is always looking to make the way you and your teams spend as effortless as possible. The more we can integrate Float into your day-to-day workflows, the more we can make spending for businesses easier across North America.

Book a demo with us today and experience all of the features Float has to offer.

Upcoming Release: Team Management

Allow us to introduce to you Team Management! ⭐ An entirely new feature that allows organizations to create departments and assign specific managers within Float to empower smarter spending within teams. Team Management takes the load off your finance team by giving managers more responsibility to control budgets, while keeping financial data exclusive to administrators and finance controllers for review. 👀

When teams don’t have control over their spending, enforcing financial policies is difficult, tracking expenses is a total nightmare and overspending is much more likely. Our new Team Management feature is the solution to all of this. 👏🏼

A closer look at Team Management 🔎

Manager Permissions 🙋🏼‍♂️

Team management gives managers greater control and visibility over team spending with the authority to set predefined budgets, distribute corporate cards, approve spend requests in seconds and empower teams to make responsible spending decisions! 💸

Team Management 👫 👫

You can now assign multiple managers and spenders to various teams with added functionality like auto-tags to clearly define each employee’s role and spending authority. Easily distribute corporate cards to departments and/or team members with customized limits based on expense type or project budget.

Team Management Feature

Multi-Level Approvals ✅

Float gives you the means to decentralize spending with an easy and efficient approval process within our platform. You can create multi-level approvals for each team and define approval levels based on the spending amount for any request. Whether it’s a $200 or $20,000 request, the correct individual will be prompted (via Slack or email) to approve it, with an e-paper trail that you can always depend on. 🤝

What are the perks? 🤩

Greater accuracy and control 👍🏼

Managers now have a better view of where capital is going, how it’s being spent and who is spending it. Team management also enables a clearly defined structure for employees to make spending decisions aligned with the team’s budget and the company’s overall spending strategy.

Save time and increase operational efficiency ⏱

You can expect a simple spend approval process where expense management is a breeze, employees can make transactions quicker and finance teams are given more time to focus on important tasks.

Promote a decentralized structure 🙌🏾

Managers gain greater authority to track and manage team spending with team management, while employees have the flexibility to make business purchases on demand without a series of management approvals. 

At Float, we saw that fast-growing teams were looking for a more effective way to delegate and empower their employees.💪 So, we took matters into our own hands and created Team Management! Interested in learning more? Book a demo with Float today!

Announcing Float’s US$30M Series A Financing

Float closes US$30M Series A Financing

We’re excited to announce that Float has closed US$30M in Series A financing led by Tiger Global. This new round of capital will help us further invest in our goal of creating Canada’s best corporate card and all-in-one spend management software. 

Thanks to our loyal and supportive customers, Float is now one of the fastest-growing companies in Canada. Since our public launch earlier this year, we’ve seen hundreds of companies adopt Float for business spending. Moreover, we’ve seen engagement on the platform skyrocket. The total payment volume on Float has increased ~20x since our seed financing in June 2021, and our average monthly customer spend has increased more than 6x since our public launch in March 2021. None of this would be possible without our amazing customers, many of whom have played a major part in helping us develop new products and features. We look forward to delivering even better service to our customers over the coming months and years. 

Float’s Vision & Mission

Float’s vision is to deliver an end-to-end business spending platform for small and medium-sized businesses. We want this platform to enable businesses and teams to focus on investing in their growth and eliminate the need to use different banking and software tools to make day-to-day payments. One of our first customers said it best — “It’s hard enough to run a business, let alone figure out how to spend the money in our bank account.” We believe a lot of businesses share this sentiment, which is why Float’s mission is to simplify spending for companies and teams.

The Problem Float Solves

The pain point that Float is solving has been top of mind for Canadian businesses and their teams for years, and yet largely ignored by existing market players. There are over one million companies in Canada spending nearly $3T per year and the process of getting a corporate card continues to be incredibly difficult for small-to-medium sized businesses. Despite being the number one preferred method of payment for ~80% of Canadian businesses, it still takes 4+ weeks to get approved and an endless number of forms required. If you’re lucky enough to get approved, you’ll likely get a card with stifling limitations — low limits, high FX fees, personal guarantees and the inability to share these cards with your broader workforce. And that’s just to spend! After all of that, you’re still left to find a way to systematize expense reports, receipt collection, month-end accounting reconciliation and more. Yuck. 

Float Web App Interface

Enter Float

Float’s mission is to simplify spending for companies and teams. We offer Canada’s first high-limit, no personal guarantee corporate card and enable any business to start spending in 3 business days or less. Most importantly, our product is digital-first and empowers businesses and their teams to take control of how they spend. Administrators can create and cancel cards on the fly, set custom spending limits and assign cards to individuals on their team. Employees can request spend using Float directly from Slack, while managers can review and approve spend in real time. Float also speeds up the month-end closing process by natively integrating with popular accounting software such as QuickBooks and Xero. Lastly, Float offers 1% cashback on all transactions. That’s right – real cash in your account, no tricks or gimmicks. 

Excited About Our Mission?

Float is run by a passionate and mission-driven team that is focused on delivering world-class experiences to its customers. Our culture is dynamic, fast-paced and execution-oriented. We think we’re a great fit for talented people who want to operate with a high degree of ownership and accountability and always put customers first. We’re now hiring across major business functions! If our mission aligns with you, please get in touch or apply online.