This is a guest post provided by Fei Fan-Dollinger, Senior Marketing Manager at PEX.
Managing expenses can be challenging for nonprofits. You got into the nonprofit world because you have a cause you care deeply about, not because you wanted to spend time on your accounting and expense management. But when you use PEX prepaid cards through Aplos, you can streamline how your nonprofit manages expenses so you will be able to spend more time focusing on your cause. Here are some tips for how your nonprofit can use technology to simplify your finances.
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Nonprofit Challenges And Solutions
Challenge 1: Staying Within Budget
It’s important to stay on top of expense reports and budgets—even when you are busy and short-staffed. Solutions that offer real-time transaction reporting can help you be aware of spending trends. Being able to add accounting codes and notes at the point of purchase will also help you save reconciliation time later.
Challenge 2: Financial Reporting
Financial record-keeping is a crucial part of keeping your nonprofit running smoothly. Easily track your organization’s financial health and prepare for your next board meeting with a solution that offers simple dashboards that minimize inconsistencies and save you time.
Challenge 3: Chasing Paper
Take advantage of technology that lets you digitize staff expenses, replace cash, and integrate financials with your Aplos account. You will be better organized, and you’ll save hours of time and effort.
Challenge 4: Keeping Track Of Grants And Donations
It’s important for nonprofits to track how grant and donation funds are being. Utilizing separate spend cards to manage grant funding expenditures vs. your everyday expenses can be a big help.
Simplify Expense Management For Your Nonprofit
PEX prepaid cards can help streamline expense management for your staff and volunteers, and Aplos accounts come with five VISA prepaid cards through PEX. You can also purchase additional cards if needed. Share them with your team to make expense management easier for your organization.
Save administrative time by simplifying your expense management process and save money for your organization when you utilize the prepaid cards that are provided through Aplos.
Why should your nonprofit use PEX prepaid cards?
- Replace checks, petty cash, and reimbursement forms with PEX prepaid cards
- Add or remove funds from cards at your discretion
- Set spending limits and specific locations where cards can be used
- View transactions in real time
- Capture receipts digitally using the PEX mobile app
- Transactions automatically sync with your accounting in Aplos
- Credit checks are not needed because the prepaid cards aren’t credit cards
Get Started With PEX Prepaid Cards
Aplos customers can start using PEX prepaid cards by enabling prepaid cards in Aplos.
If your organization already uses PEX prepaid cards, we can help you migrate to the discounted Aplos plan. Contact our Support team at firstname.lastname@example.org.
If your organization is currently in an Aplos contract, submit the prepaid card interest form to get started.
The PEX Visa® Prepaid Card is issued by Fifth Third Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa Business Prepaid cards are accepted.