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Greater visibility of your Company Limit
We’ve made a small but useful update to the way your “Company Limit” displays in Domains > Company Cards. This will now update dynamically after every transaction and settlement made, so instead of simply showing the amount you’re approved for each day, this will show the actual amount remaining based on what you’re approved for that day.
As a brief reminder, your limit usually recalculates each day based on a variety of risk factors including, but not limited to your tenure as a customer, the business-related information you provided during your initial sign up, and the available cash on hand in your business bank account That limit is also affected by the number of settlements from the previous working days which still need to settle with Expensify, and the sum of pending transactions across your cardholders accounts.
This change should remove any confusion around why you might have seen a transaction be declined, but saw that the Company Limit remained well above that transaction amount. Now, it should show accurately the amount remaining and provide a real-time view of your finances for that day. Whilst most customers haven’t really needed to worry about hitting this limit, this change, hand-in-hand with our Reconciliation Dashboard should really help those spend-conscious bootstrapped companies keep a better eye on their daily spend.
Let us know what you think about this, and what we should do next for the Expensify Card below!