Business Expenses Trip

Monzo Chat
21

I’m in Italy this week. I landed in Nice airport and hired a car. Good news is Monzo card works great on the Autoroute :+1::blue_car: Bad news is the different trips created for each country.
I really think a trip start/stop button is the way to go (it was discussed above)
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22

i was unfortunate enough to be in Heathrow for a few hours yesterday, I noticed plenty of people using their mobile to scan their receipts.
I love the way you can attach a receipt to a payment in Monzo, it’s genius. I assume most people have to upload their receipts to something at some point. I also assume most people can’t choose their expenses software as it’s dictated by their company. What could Monzo do to make it easy? They are in a position to match the receipt to the payment, other scanning software can’t do that without manual entry. If the search could be filtered and exported i.e ‘date start/stop’ ‘expenses’ we would have a business trip expenses report with receipts…we can only dream :pray:

23

I’ve just noticed x2 payments I made on the Italian side of the toll road have not appeared as charges. I’ve got the receipts. I’m not sure why these should be any different to any other payment

24

NIGHTMARE
Monzo bank statements do not show local currency charge or for-ex rate. Total useless as a business expenses card.
Back to Barclaycard

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25

Hey you might want to help Monzo on this check the thread below;

26

I’m none of those. Fully employed. Trying to recoup overseas travel expenses. At this moment in time, Monzo bank statements are the worst.

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27

Monzo never said that their account is intended for Business Expenses trip by the way.

You could share why you think statements are not good for you here;

28

I think he did…

When filling out expenses you normally need to know the exchange rate used.

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29

Won’t it be on every transaction in the feed?

30

It shows in the app and exports real nice as a CSV file but neither of these can be used as evidence

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31

I never said they did.
I tried to do a blog to see if Monzo could be used as a business expenses card.
In my opinion, it’s not quite ready

32

I should say:
The customer service at Monzo is out of this World. I told them my issue and they’re drafting me a letter to detail my expenditure.

Which is really nice of them

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33

Did they say they were going to use the stamp on it? :eyes:

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35

This expectation proved to be a bad decision

36

It’s been a real set-back this week.

I assumed the bank statements would show the euro rate or for-ex rate. I didn’t even look at the bank statement, I just exported it as a pdf and attached it to my claim. I couldn’t understand why our finance administrator was going bananas at me. Monzo asked me to detail which payments I needed to give further details on, I simply sent the the CSV file. They got back to me the same day, amazing customer service but I’m hoping it’s a temp work-round.

Ideally i’d like to export my spending as a pdf. It seems so odd that I can export all the data as a CSV file but not a pdf however I know nothing about software programming.
Plan B is to export the bank statement but that doesn’t show enough info.
Plan Z is to contact customer services everytime and ask for a letter.

It took me ages to change over my expenses account to Monzo so I’m sticking with it come Hell or High-water.

37

I’m still not au-fait with the Monzo community. This was supposed to be a blog but I seem to be just chatting to myself :man_facepalming:

Anyway, I’m in a bit of limbo with my expenses. There is the Monzo issue with statements, as discussed above. I’d like to see it on the roadmap.

There is also my employer issue with regards to evidence. They insist on receipts, which is fine. This is a requirement for HMRC.
The problem is when I purchase something that I can’t claim for (e.g. alcohol with dinner), I need to apply a correction. This can become complicated on an overseas transaction. The correction needs to be applied at the for-ex rate at the time of purchase. The CSV export option in Monzo is great for this. All the info is there, couple of quick sums in the cell and it’s done. I can even write a description “€6 alcohol removed”. Unfortunately my employer won’t accept it, they insist I write on the receipt. I called HMRC and this is not a requirement. I’m currenty arguing this out with my employer, I’m confident I’ll win the debate.
This is of no relevance to anyone…unless other people have this issue and Monzo have a nifty idea how to make it easier?
Idea: export spending category as CSV and PDF
Idea: option to apply deduction from amount(Manual entry), in the app where we add Receipts etc. Final export would need to show amount charged, manual deduction and amount to claim.
Idea: export to show photos of receipts attached.

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38

I resolved this. I’m allowed to submit a spreadsheet with the details on :ok_hand:

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39

I think I’ve decided on my proposed ‘Monzo business expenses features’

  1. Toggle on/off button. The automatic spending report doesn’t work. Especially as you cross countries or work in the UK. When ‘on’ all spending is categoried as ‘expenses’
  2. Option to switch between ‘pots’. I want to pay for my breakfast :banana:, taxi :oncoming_taxi:, dinner :taco: with work allocated funds but pay for my drinks :beers:, presents :gift:, other :dancer:t3: with my personal funds. I think the switch between pots will work the same as the toggle on/off.
  3. The report is key. :chart_with_upwards_trend:
    3.1 add Receipts. The option is there to add the receipt to the purchase but it doesn’t export in the report. This would be great.
    3.2 read Receipts. (We’re allowed to dream). We’d then have the option in the app to select which items we had. :pray:
    3.3 export report. This must include actual spend in local currency and GBP (or include exchange rate) :dollar::euro::pound:
    3.4 The report could also include ‘amount claimed’. This could come from the ‘read receipts’ info or manual entry. I’m not allowed to claim alcohol so I must remove it from my receipts. The amount claimed in local currency would be automatically converted at the purchase exchange rate.
    3.5 The report would need a non-editable option (pdf) :closed_lock_with_key:
  4. Update the Monzo app as you’re on the move. (An offline version would be useful for those in-flight hours) :airplane:️
    Export the report.
    Job done.
    Get a round of drinks in with your expenses and tell your friends to sign up to Monzo. :rocket:
    (That’s my annul emoji quota used up)
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40

Monzo- could do a great job here for those that don’t want to have separate cards for business expenses.

Export those transactions marked as expenses.
Generate a report with photos of receipts attached.

This could be a huge incentive for businesses (easy administration and better exchange rates) and for account holders.

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41

Hey,

Just been messing with IFTTT integration, and if you create an applet that links monzo to Google sheets, you are able to add a row to a sheet for every transaction. The fields that are available include account currency and local currency, along with pretty much everything else you see in your feed.

It wouldn’t be too much of an issue to enable the IFTTT applet when you are on a business trip, and use this spreadsheet to log all of your expenses in the local currency.

The only issue I see is that the amount could fluctuate between it being logged (since it runs at time of purchase), and it completing. As a reference, it may be of use.

Hope that helps slightly.

Jon.

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