Expenses and Treasury both deal with company money, but they do different jobs. Expenses is where every expense is recorded, checked, approved and paid back. Treasury is where you manage the money itself: your bank accounts, your Factorial cards and your payments. Knowing which one to open saves you hunting in the wrong place.

Expenses: every expense, from receipt to reimbursement

Overview

Use Expenses to record and control what employees spend for work, however they paid:

• Out of their own pocket: they create the expense with the receipt and get paid back.
• With a Factorial card: the expense is created automatically after each payment. The employee adds the receipt, and it's approved like any other expense. Nobody is paid back, because the company already paid.
• With another company card: they create the expense with the receipt, so it's recorded and approved. They choose a company payment method such as Corporate debit card, so nobody is paid back for it.
• Mileage and per diems: calculated from your company's rates.

Employees find their expenses in My spending > My expenses. Finance teams and admins review, approve, reimburse and export them in Spending > Employee expenses.

Treasury: bank accounts, cards and payments

Overview

Use Treasury to manage the company's money and the tools to move it. In the sidebar, go to Treasury. Depending on your permissions, you'll see these tabs:

• Overview: your company's balances at a glance.
• Accounts: the bank accounts you've connected or opened with Factorial.
• Cards: every Factorial card: issue, deactivate or cancel cards and set their limits.
• Payments: payments you send from Factorial, for example SEPA payments.

How they work together

• A Factorial card payment appears in Treasury as a card transaction, and in Expenses as a card expense to justify and approve.
• When you reimburse expenses by SEPA from Expenses (Reimbursement via SEPA), the expenses move to Sent to pay and a payment request for each one appears in Treasury > Payments > Payment requests. This depends on your plan and permissions.

Tips and Best Practices

• Ask employees to add the receipt to card expenses right after paying: they get a push notification asking for it.
• Give Treasury access only to the people who manage the company's money; most approvers only need Expenses.
• Related: Expenses overview: what it does for your company · What are Factorial cards, and why use them for company spending? · How do I open a Factorial cards account, add funds and check the balance?

Troubleshooting and FAQ

Troubleshooting

I don't see Treasury in the sidebar.
You need permissions to see bank accounts, cards or payments. Ask your admin.

A card payment doesn't appear as an expense.
Check that the cardholder is an Expenses user. To add them, see How do I add people to Expenses?. If they already are, see A card payment is missing in Factorial. Where is it?.

FAQ

1. Do I have to create an expense for each Factorial card payment?

No. Factorial creates the card expense for you; the employee only adds the receipt and sends it for approval.

2. Is an employee paid back for card expenses?

No. An employee isn't paid back for a Factorial card expense, because the company already paid with the card.

3. Where do I manage my Factorial cards?

In Treasury > Cards. Employees see their own cards in My spending > My cards.

4. Where are SEPA reimbursements paid from?

You start them from Expenses; the payment requests appear in Treasury > Payments > Payment requests.