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Corporate Debit Card vs Petty Cash: Which Is Better for Your Restaurant?
Many operators use petty cash to pay for small expenses during a shift. But petty cash is hard to track and control. Here's why a corporate debit card might be better.
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“Managers can approve invoices from their phones, wherever they are, and have vendors send bills directly to the platform. It's been a lot more efficient. I spend much less time on AP processing because of the transition to Plate IQ.”
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Plate IQ digitizes every invoice and keeps an image of the original at hand.
Upload paper and electronic invoices in bulk, no manual input required. Or use Vendor Connections, a Plate IQ feature that obtains digital invoices directly from your vendors.
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What if your managers received invoices already coded down to the line item?
Plate IQ tags each invoice with its department codes upon upload, and even maps each line item to your GL, so that your managers don’t have to.
Plate IQ enables property-wide invoice approvals in an efficient, centralized AP workflow.
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Get on the same page — and get rid of paper.
Plate IQ stores a digital copy of each invoice alongside a full audit trail of approvals, exports, and payments in one centralized
and searchable system.
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Schedule and approve payments right in your AP platform with Plate IQ Bill Pay.
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Plate IQ’s automation and reporting tools keep your executive team in the loop on everything from payment approvals to in-depth financial reporting.
We’re not in the same space as the other managers, so I used to have to cater to different schedules to get invoice approvals. Now it's the same process for everyone: they have to go onto Plate IQ and approve it in order for it to be paid. It's streamlined how everyone looks at invoices.
Bill payment was very manual before. Now we send everything through Plate IQ. I just set up payments every week and it's seamless. For our CFO, who isn't in the office every day, it’s great that she’s able to approve those payments from anywhere. I just feel like it's more efficient for everyone.
Accounting Manager
The Plate IQ Card lets you issue virtual and physical debit cards to employees, departments, and properties in a single click. No credit approval or underwriting necessary.
Replace reimbursements and corporate cards with pre-approved expense cards you can use for:
• Speed up your invoice & bill pay workflow by 80%
• Schedule bill payments right from your invoice platform
• Keep tabs on all your records with a secure digital filing cabinet
• Code fewer invoice line items with automated GL coding
• Review and approve invoices on mobile anywhere
• Only review invoices tagged to your department
• Sign off on payments securely online
• View the full approval trail, notation, and documentation for payments
• Tag other people within the approval flow with any questions
• Centralize AP documents, processes and approvals in one workflow
• Help accounting staff process invoices efficiently
• Report spending to stakeholders on a granular level
• Split invoices between departments with a click
• Manage invoices, payments, and approvals virtually and securely
• Route every invoice to the right sequence of approvers
• View granular reporting that pinpoints sources of changing spend
• Implement an invoice processing flow that automates real-time cost control
• Organize all your P&Ls while maintaining a centralized, holistic view of AP
Seamlessly connect your AP data with the technology you’re already using.
