Reduce Job Costing Problems
The Akimbo Talk Mastercard ® Commercial Prepaid Card
At last, Job costing problems can become a thing of the past. Right from your phone, in just seconds.
Enroll Today
The TALK Mastercard has three objectives designed to make your business more profitable.
A To give you transparency on job costing and employee expenses, all in real-time.
B To capture the ‘purpose’ of money-out events and post to QuickBooks or Excel automatically when the TALK phone app is used in conjunction with the TALK Mastercard
C You’ll have more accurate cost per project or marketing effort, posted to accounting in real-time.
How we use TALK in our own business
(this is a real-life story of how we use TALK)
First we enrolled for a Talk Mastercard.* My wife, Lin (who is my bookkeeper) estimated that our weekly expenses and inventory purchases (job costing) were around $5,000 a week on average – so that was her opening balance. She checks the total balance and card usage every Monday morning and replenishes the account as needed by doing a bank transfer from our operating account to our payable account via our Commercial Prepaid Mastercard.
Second we then offered our five employees, including me as the owner, a Talk Mastercard to draw on the aggregated available funds. She set limits (right on the admin panel) for the amount each employee could spend. If we have a unique situation where one employee might need to spend an inordinate amount, (like buying a truckload of lumber) it only takes her a few minutes to adjust the limits from the admin panel.** Lin also issued herself a card so that she could order and pay for items for the office. That reduced her bookkeeping work as the money-out event would automatically post to our accounting software. She even went so far as to set up all her reoccurring invoices like the utilities, because they are now coded as to the purpose, automatically.
Third our employees use the Talk Mastercard account during the day. In real-time their phone receives a text notification of that charge, that includes the vendor and amount in the data fields. The employee is prompted to take a picture of the receipt, so the camera turns on automatically. With the click for the photo, a voice prompt asks our employee to TALK about the business purpose of the transaction. The recorder is turned on, and the employee will say something like “I just bought three cases of screws for the Smith Road Project.” The voice recording converts to text, it's analyzed and coded by the Artificial Intelligence and uploaded to our accounting software with the picture. The entire process takes 10 to 14 seconds. Since the phone is ‘nagging’ our employees in real-time while they are standing at the cash register – we have increased our chances that they will complete the ‘purpose’ coding immediately.
Fourth back at the office, Lin will review those transactions in Excel or QuickBooks to make sure the job costing is correct and make any changes in a matter of seconds. Using TALK services is far faster and easier than calling the employee for expense details or looking for receipts. She can now produce real-time reports on how our marketing efforts or projects are paying out. Lin can review employee card use at any time in the admin panel on her back end webpage. That instant review has reduced cash leakage on company cards. She has control of who spends money and can easily control the prepaid card account balances. If we terminate an employee, she can stop the card right away. All these controls and real-time updates save her hours of low-level work and pretty much eliminates the frustration of chasing employees for transaction details. I like TALK because Lin never calls me and asks what a transaction, I can’t remember from last month, was all about.
Let's chat. If job costing and expense tracking is a problem, give me a call right now and I’ll go over how the Talk Mastercard works for you to smash the eight cash flow killers in a construction business.
Linking to QuickBooks, Excel or other accounting software. Since the linking process is a one time task it makes the most sense to utilize a local accounting, bookkeeping or tax firm to manage the tech. Please feel free to call and find out more details. There is no charge for setting up the online linking.
Lin square
Linnea Truby
Job Costing in seconds: finally you can get a handle on cost controls, expensive bookkeeping and upset clients.
See for yourself. Call me today, or simply fill in this form and I’ll email you complete details on the Talk Mastercard Commercial Prepaid Card for contractors.
Ready to Enroll?  Enroll Today
The TALK Mastercard is issued by SUNRISE BANKS N.A., Member FDIC, pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trade mark of Mastercard International Incorporated. Use of this card constitutes acceptance of the terms and conditions stated in the Cardholder Agreement.
Important information for opening a card account: To help the federal government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires all financial institutions and their third parties to obtain, verify and record information that identifies each person who opens a card account. What this means for you: When you open a card account, we will ask for your name, address, date of birth, and other information that will allow s to identify you. We may also askto see a copy of your driver’s license or other identifying documents.
All trademarks and service marks are the properties of their respective owners. TALK Accounting is a trademark of AutoKept Inc. 2017. All Rights Reserved.
* Some fees apply.
** Pre-set limits not to exceed $50,000.