Overall Satisfaction with Bento for Business
We use Bento for Business to manage expenses across our company. We have 6 locations across SC and GA so employees need to travel and make small purchases on a daily basis. These cards allow our employees to do that in a way that is easy to track and import into QuickBooks. Transactions are displayed by employee with details on the amount and place the transaction took place. I'm also able to restrict purchase categories and amounts.
- Track expenses by employee
- Restrict purchases based on amount and category
- Import transactions directly into QuickBooks
- All of the money on the cards is shared by everyone and can't be assigned to just one card
- They are improving classifying transactions, but sometimes they are misclassified and employees have transactions declined
- Limits are based on a day/month/week. It'd be nice if they were limited based on a single transaction too
- Less time spent on expense reports
- Employees don't have to spend their own money and then get reimbursed, which can cause friction with management
- We don't have to use petty cash, which is hard to track and promotes theft
- Saves a lot of time importing expenses directly into QuickBooks
- It does take time to get used to how long transfer take and when to initiate them. Setting up auto replenishments can get expensive if you don't pay attention
There are not a lot of other apps like this. Most of them just track expenses without giving employees the ability to use company funds. I understand that in larger companies this may not be an issue, but for our employees, it is nice to not have to use their own money. You can take pictures of receipts to prove what you bought, in-app, like a lot of other expense tracking apps.
If you have a remote workforce and want to save time and/ or inconvenience for employees by eliminating expense reports, this is a great product. You lose a little control over expenses but we just created a policy in our employee handbook to clarify the misuse of funds and set category restrictions on the card. If you have everyone relying on this, you can have one person make a large purchase that depletes all of the funds. A free transfer takes 2 days but an immediate transfer to correct no funds has a fee ($30 for my bank).