WSW - Podcast More Than One Basket: Secure Money Movement with Relay
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[00:00:00]
Welcome and Introductions
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Dan DeLong: Oh, welcome everybody to another workshop. Wednesday, casual conversations for serious workflows brought to you by a school of bookkeeping where it's keeping you learning QuickBooks your way. And as you may notice, Rachel's not here, but we do have filling in. Oh, you're over here filling in [00:01:00] for Rachel again.
Is Chloe from Relay? Hi Chloe, how are you?
Chloe Deree: Hello, Dan. Thank you so much for having me again today. I'm so happy to be here. Big shoes to fill with Rachel being absent, but I'm so excited to chat. Ra
Rachel at ShopTalk
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Dan DeLong: Rachel is in Las Vegas. It seems to be the place to have conferences these days. Yeah. But she's at a Shopify conference, so Shop Talk is is where she's at, and since she's focused.
Primarily for e-commerce inventory that just makes sense for, her to go. So obviously we're not gonna be doing a workshop from Las Vegas. We tried that once and actually didn't turn out too bad. She found a a. Starbucks to try to be quiet. But it's, hard. Going to conferences you could probably speak to all the conferences you've been to.
It's go all the time, right? It's, trying [00:02:00] to find and carve out time for something is pretty impossible,
Chloe Deree: yeah, it's go, And it's also so lovely seeing faces that you usually only see on screen. So sometimes you'll stop at a Starbucks to answer some emails, hop into a webinar, and then you see somebody that you know, you wanna go say hi, you wanna chat with them.
So I find myself in my hotel room, like answering emails really quickly at the end of the night. But that's as far as, you can go. So hopefully she's having a great time though.
Dan DeLong: Yeah. And you, think by going to Las Vegas there's all those things that you can do there, but it's trying to work as you're going to attend a conference is quite challenging.
Yeah.
Power Ups Program
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Dan DeLong: Speaking of challenging, so we've been talking we, we've talked with Chloe before about the foundational, aspect of, relay. And now we want to take it a little bit deeper [00:03:00] into the different different tiers of relay. And before we get into that, I wanted to talk about a new announcement here.
So let me share my screen and we'll talk about this here. So we have something that we're trying to do here at school. Bookkeeping is, adding on. Power ups, right? There are things that you can add on to, QuickBooks online or desktop, and it gets more out of your experience, right?
Because especially with QuickBooks Online some of those things those deep workflows is really in, in the shallow end of the pool and. Sometimes you need more than that. We've been working with folks like Relay and other power up as we're calling them, where as you add on power [00:04:00] ups onto your QuickBooks, through our unique referral and partnership with these apps and add-ons, then you unlock essentially you unlock benefits.
At School of Bookkeeping. For example, if you add one power up you get a 30 day trial of quick answers, which is allowing you to bypass Intuit and talk to somebody who's been with Intuit for nearly 18 years. Like me, right? So who wouldn't want that for, 30 days?
Chloe Deree: Sounds pretty good to me.
Dan DeLong: Yeah. And then you can stack these things. So if you add two power ups, you get more. Abil in, QuickBook, or I'm sorry, in school bookkeeping. So you would get a 90 day trial of quick answers for two power ups and a 30 or 60 day trial of our course library. If you add three, then you get one hour of what we call private tutoring.
So anything that you want to talk about for an hour, you can book time on my [00:05:00] calendar and we will we'll, work through it together. If you add four plus you get three hours. So it's really a way that you can. Enhance your QuickBooks online experience, but also get more support for it as well.
So you don't necessarily have to bundle your QuickBooks subscription with School of Bookkeeping, although you can. So if you already have a a QuickBooks Online subscription, you can just add these things through through our links here. So I am. I'm trying to talk and click at the same time.
And there it is. Okay.
QR Codes and Voting
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Dan DeLong: I wanted to share the power UPS QR code. So if you're watching online, you can just, move out your phone and get to this this website. The other thing that we wanted to mention is that voting for the top 100 advisor is open. I [00:06:00] believe Rachel is on this list.
I know I am. So if you haven't voted there's two people to vote for Rachel and myself.
Chloe Deree: There we go.
Dan DeLong: Who else would it be? But there is a QR code for that. I did already put it in the comments. So the link is there on where wherever we are happen to be located or wherever you're watching in the comment section, that link should be there.
Voting is only open or closes. The last day to vote is 4 28. So it's open now. So it's about a month that you have to vote for that.
Why Add Relay
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Dan DeLong: So that is just our announcements that we were wanted to talk about before we dive into today's topic, which is taking your money movement to the next level, or in, this case it's, more than just having all of your eggs in one [00:07:00] basket because Chloe, when we.
Kind of ended our last workshop, the, positioning of Relay. You talked a little bit about how it's not just like you're, switching banks, right? When you're adding relay into, the mix, it's more of adding to, right? So talk a little bit about how, where Relay falls In In terms of just business banking in general, when when a business is considering adding relay.
Chloe Deree: Yeah, so that's such a great question. When we talk about Relay and introduce the idea of relay to different kinds of business owners a lot of the times whether you are a brand new business owner, whether you've been in business for five years, whether you've been in business for 25 years, you already have operations in place and sometimes things are going wonderfully, sometimes things [00:08:00] aren't.
Sometimes 80% of your tech stack is. Is great and smooth and efficient, and then the 20% is, could be a little bit better. So the reason why we don't really like to say switch banks and more so implementing Relay as a solution is because there's so many different features of Relay that can really help streamline your tech stack can help save you time.
Save you tons of fees, whether it's for bill pay, whether it's for accounts receivable, whether it's for expense management tools, or using a debit card or whatever the feature may be. Relay is a really great tool to implement and use it for a specific case. A lot of the times, not to be biased, but people will use Relay, realize that it's so lovely, and then start to implement other features on the platform as well.
The starter plan of Relay is completely free. So there's no consequence, there's no minimum account balance requirements, there's no [00:09:00] monthly fees, nothing like that. So a lot of the times when you find a feature that really works with what your operations existing already that's when Relay comes into the picture.
Dan DeLong: Yeah, because it's and I think we had talked about, changing banks or that triggering event that that a lot of people would, potentially have to look for an alternative banking solution. Is. Something that happens at the bank to, to annoy you.
Chloe Deree: Yes.
And don't get me wrong, we've worked with tons of business owners that have unfortunately said, I am so tired of my existing brick and mortar a bank. I'm, ready to come to relay. Everything is aligning. This looks. Amazing for me and my business, and we're ready to welcome you with open arms.
But it's not just for those people, it's also for somebody who, everything's working great. 80%, [00:10:00] 80% of everything is perfect, but how can we tweak that 20% to give you time back to better your work life balance, give you more time with your family, maybe save you a few hundred bucks every month. And that's where we can also really come in strong for you guys.
Dan DeLong: Yeah. So the I. So it's something that, offers very little friction to, get started with because your starter plan is completely free. So it, it is a great way for a business to evaluate if, if Relay is would, be a workable solution for whatever it is that they're doing.
And to your point, as you talked about last time, the starter version has. Has everything in it. There's not anything that you can't do. It's you, can just do things a little bit faster or better in those different tiers and we'll talk [00:11:00] about those different tiers a little bit later.
Avoiding One Basket Risk
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Dan DeLong: But, so, it's a it offers a great way to get started with adding a complimentary solution to something that you already have because, and we just wanna talk about QuickBooks in a, little bit, and Intuit where they, their strength, right? Is you get more out of your QuickBooks when you add on these money movement types of, solutions, right?
They could be payroll, they could be, bill payment. There could be, bill QuickBooks Payments where your money coming in, right? The integration piece that they have, that's their advantage, right? So adding on those ser those, those services inside of QuickBooks, you're going to get a lot more, [00:12:00] options than you can with an outside service.
The flip side of that. Is you have all of your eggs in one basket, right? Everything that's mo moving money, whether that's money to your, to your, employees or money to your suppliers, or money from your customers. That's a lot of, pressure, I guess is probably the easiest way to, to put it when when you're dealing with, when you're dealing with, the, these business services and you're dealing with potentially other people's money, whether it be your employees or your vendors. You wanna make sure that those that money happens when that money movement happens, when you want it to. And if that doesn't happen for one of the money movement [00:13:00] services that could potentially soil.
The experience for all of the money movements services, right? And that could even cause people to go away from QuickBooks, right? If, there is a a hold for example, on your account for payments, and that also affects your payroll and your bill pay, that could potentially could cause people to leave the whole ecosystem of, QuickBooks.
Bottom line or the point I'm trying to get here is that having an alternative money movement solution, like relay in your arsenal or in your toolbox, allows people to pivot pretty quickly so that they don't have, so then they're not dead in the water. How, is that, how does that go with, with, where relay's philosophy is with, [00:14:00] with, regards to money movement?
Chloe Deree: Yeah. So primarily Relay has essentially built their own API directly into integrations like QuickBooks Online and Zero. And the reason why we've done that is most. Banking platforms will use a third party to connect to a payroll software or an accounting software.
And a lot of the times that's gonna cause broken bank fees. It's gonna cause disconnects and it's gonna cause you ultimately as a business owner or as the advisor to come in and reconnect it and just waste. Not waste, but use up a little bit of your time that could be used elsewhere.
With Relay, we offer a ton of incredible, amazing features that you can do all within the platform. But like we've talked about at the beginning of the call, a lot of the times you have systems set up in QuickBooks. You have your gusto set up, your [00:15:00] deck set up. All the wonderful, amazing features.
So Relay has made it really easy to integrate with these features with our API, so that you can do what you're used to doing. That is what is already working well for you through QuickBooks Online and your other softwares. But then on the relay front it's integrating through your checking and savings accounts, but then we also have those other features available for you as well, so that.
If the time comes, if you're ready to try out a new feature, the cost efficiency is there because like we said, the core banking is completely free at Relay. So we just make it really easy for you to try out new things as a business owner when you don't already have too much time. We're just giving you that time back and potentially even giving you some savings back too.
Dan DeLong: Yeah.
Relay Tiers Overview
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Dan DeLong: Now the, one of the, one of the coolest features of Relay is the no fee structure, right? Where you have you start out and starter [00:16:00] there's no cost, there's no minimum balance, there's no, fee to just have the for the luxury of having an account, which is
Yeah,
which is what I get from Chase, or what I had from Chase, I should say, because.
They're, beyond. They're in another, category right now. They're former bank. But but your relays model is that, you have that starter with no, fees, no minimum balance, but then you have when you, need more, and we'll talk about what that more needs are.
When you need more there's a tiered service offering that you can upgrade to that allows you to get more. So let's talk about the, two tiers. We mentioned them a [00:17:00] little bit in the last time. So what are the different tiers of where there is a, platform fee, I guess is the best way to describe it,
Chloe Deree: yeah. Relay is designed to grow with you as a business. You start for free and then you're able to unlock more advanced workflows as you grow your business as your clientele gets more complex. And there's three main tiers, like Dan mentioned. We have the starter tier completely free, and then we have the grow.
And then the scale tier, and it just comes down to what level of automation or control that you need. It's not about the, prices of what you're unlocking, it's more about the automations and time savings.
Dan DeLong: Got it.
Savings Calculator Demo
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Dan DeLong: So you have a really neat utility that that, relay offers, which is a, essentially a savings calculator which I'm gonna share here [00:18:00] shortly here if I can.
There we go. Yes. And we'll, have this, available. It's in the, it's in the, comments there's links in the comments. And did I make a QR code for I did. I did, but I
Chloe Deree: ah, the best.
Dan DeLong: No but, calculate to with an R on
Chloe Deree: calculate to there.
Dan DeLong: But there's the, relay savings calculator there.
So talk us through what this what this is and how people can use it.
Chloe Deree: Yes. Okay. So this used to be something that existed internally and we decided, this is amazing. We need to make this public for our users. This focuses a lot more on the cost side of things. It's still phenomenal. But I do wanna preface by saying on the backend that grow and scale come with a lot more AI insights and forecasting and automations, whereas a subscription calculator.
[00:19:00] Calculator, sorry. No, I'm pulling a Dan and forgetting the O. Yeah. But the subscription calculator that we've built for you here is focusing on the cost savings. So what, you're essentially doing, which is
Dan DeLong: really what accountants and bookkeepers are looking for.
Chloe Deree: And a lot of the times that's the primary focus, of course.
So what this looks like is. You are basically able to adjust this calculator based on your fir your, book. So as Dan is doing, let's say you have. 300,000, 366,000 in assets under management. It's fun to play around with that. You're doing a certain amount of domestic wires per month.
A certain amount of international, you're doing a certain amount of same day, a CH transfers. I wanna also mention. Next day a CH is completely free. So this, one is, just depends. I know that there's some people out there that you might be in a pickle, it needs to settle on the [00:20:00] same day three is a really great number, and then you have a relay credit card and you're spending, we, I see here, $2,000 a month and you're getting 1.5% cash back on that.
So relay calculator will essentially spit out the best quote, unquote bang for your buck. And just tell you from a pricing perspective and an interest perspective, what you're going to essentially net monthly per month. So with our scale tier, it is $90 a month, but after paying the $90, you're still going to net $650 a month after all your costs.
So I know a lot of the times business banks aren't really offering, a whereas Relay is offering that 2.68 plus the cash back on your credit. So you're gonna actually make money by, by using your Relay account. In some cases, if you are in a different situation [00:21:00] and your assets under management might be a little bit smaller.
Maybe you're sending less wires. Maybe you're doing less on your credit spend. It's also gonna show you okay for your business because we're still growing the best, bang for your buck for this would be starter. So it's always just gonna tell you what makes the most sense.
It also did a blend of Chase, bank of America Wells Fargo. And here to tell you how much you'd be spending based on minimum account balance requirements based on wires, based on fees, all that fun stuff. And it still give you a little bit of a difference there based off our pricing.
Dan DeLong: Yeah that, that is. Pretty ballsy right? To, actually put yourself up against the big banks. And in comparison to that. And I can, that's the one thing that when I was talking with small [00:22:00] business owners and accountants working at Intuit and, people.
Especially hob people who are on the side hustle type of thing. Growing into a business fees were a, significant concern because they, maybe they were working in Venmo or PayPal as far as getting money to and from their customers. And they would skirt the terms of service by calling it friends and family to avoid the fees.
So they tend to. Look at these fees as, oh, that's now eating into my profit margin by having to pay all these fees. And they look for ways to get around that, right? So this offers a and then them they are, whoa, you need a business bank account to do X or that, or this, that, or the other thing.
And so they go and look at a traditional bank [00:23:00] and, oh, just to have an account, it's. There's a, base fee, and then if you fall below a certain dollar amount, there's a low balance fee and then there's a balance transfer fee and all the, all of those other fees that any opportunity for a bank to, to charge a fee.
It just seemed like the business people got the short straw on those things because. Okay. A personal checking that didn't have those fees. And now just because they're a business now, they have to pay more fees to do these things. But to, compare yourself with those big banks and put yourself right up against them is I applaud relay for putting themselves out there to, do this.
And it reminded me of, prior to working at Intuit, I sold water treatment systems door to door [00:24:00] in the desert of Arizona, and they had this, at the end of, at the end of the presentation they wrap things up and calling it a road of life where you have a plan A and you have a plan B and plan A is what you're doing today.
And Plan B is of course buying this $4,000 water treatment system. And so we talked about on plan a. Here's what you're doing to treat your water chemically, right? You're treating your water with all these harsh chemicals, fabric softeners and all that stuff. You're buying bottled water to drink here.
you so there's a, monthly expense for doing that. And then the other option is you can purchase the system and now you don't have to buy those things. So you're basically taking the. What you already are spending and put it into something else, investing it into your home, right? So we call that the road of life.
[00:25:00] And so you have a plan A, which was you pay for it and you don't have it. Or a plan B is you pay for it and you have it, right? So this is very similar to that, where if you go with the big bank. You're paying for relay, but you don't have it. Whereas if you go with Relay, you pay for it and you have it, and you have all these things, and even better is your saving money in the long run because you're not having to pay all those nickels and dimes that the big banks are and will charge you.
Chloe Deree: Yep. I love that analogy. Dan, I think that's awesome and I would love to see you in that water treatment days. But yeah as a business owner, there's a lot of things that you can't really get around when you are paying your vendors or specific ways that they want to be paid when you're receiving funds from customers or specific ways that you're receiving those as well when it comes to [00:26:00] expenses that you're putting on your credit card.
A lot of things that you can't really control, but what you can control are systems like this that you can implement and you can really just make the most out of. And like we talked about, the subscription calculator is a really great way to just make sure that you are. Within your own operations, choosing a system that makes the most sense for you?
Just a small tip. We did small math and usually if your assets center management are above 60,000, that's when the 90 gets offset, the $90 for the scale. And that's when you start generating interest on top of that. So just a small little golden nugget that we like to tell our clients. But it's really nice to, see that monthly, that net, net monthly benefit come in month over month, especially when you've been keeping those assets in an alternative account and not generating any interest and paying for a minimum account balance requirement and paying for a monthly fee [00:27:00] and paying double the price on wires.
And I can keep going, but I'll give the
Dan DeLong: right, we'll stop. I'll stop
Chloe Deree: there.
Dan DeLong: We, we wanna end the workshop this today.
Chloe Deree: Yeah. We'll
Dan DeLong: have a
Chloe Deree: slumber party until tomorrow. Yeah.
Partner Perks and Fast ACH
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Dan DeLong: And then also another benefit is going through a partner like School of Bookkeeping. The referral link through, us. There is actually a discount on these, fees,
Chloe Deree: yes. If you are coming on a relay, so not sorry. If you are joining Relay through one of our partners, you do get a discount to the Grow and a scale tier. Not only are you getting the discount, but there's tons of other amazing features. Pricing that unlocks, that's not available to you if you signed up through the website.
One of those things is a $50 welcome [00:28:00] bonus that kind of comes in right away. You also get matched with a VIP onboarding sus support specialist to help you in setting up your account and just give you that VIP support, that human centric kind of support as well. You're automatically matched with higher transaction limits, faster settlement times.
So it's a really great way to make sure that you're given a warm welcome into relay.
Dan DeLong: Yeah, I'm just looking at these this fee comparison on your savings calculator. And you can see, the, advantage of going with with the scale overgrow or starter, if you do these things right, if the juice, if the squeeze is worth the juice or the juice worth the squeeze, you can determine which is best.
But I know Fast money movement is now the thing, right? It's I, especially if [00:29:00] you know the this worst case scenario of something happens with your payroll, for example. And you need to pay your employees right away, right? If this allows you to do. To do that very quickly, do a same day a CH for your your 10 employees.
There's no cost to do that. If if you do that if if, there's 20 employees then it's a dollar per, but I know same day money movement with anything else is way more than a dollar, per transaction. And that's every. Everything that moves money offers you a fast money movement, but it's typically what 1%.
And then maybe it's capped, but maybe it's not right. So if you're, same day $10,000, that's now a hundred [00:30:00] dollars fee as opposed to something that might just cost you a buck here.
Chloe Deree: Exactly. Like I mentioned earlier, it really comes down to also where you are in your business.
We cater relay to so many different kinds of businesses and so many different kinds of paces within that business. So like we mentioned, we do wanna grow with you and as you start growing your. Business, you have more employees, you might need more approval rules, you might need more automations.
That's where kind of grow and scale also come in to help with those. And then in turn, it's also gonna help with the pricing as well.
New Features AR and Expenses
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Dan DeLong: And then when I first heard of relay the first thing that you know, of more services that was available was the whole payables bill pay. And I use it myself and the synchronization and the between QuickBooks Online [00:31:00] and Relay, it's instantaneous.
Or there's a button that just says refresh and then your bills show up, and then you can go move to pay them. But now you guys are getting into expense management and, invoicing. So talk a little bit about those new-ish features, and I don't wanna say they're new, features, but they've been around for, a while, but talk about that in the future of where relay's going.
Chloe Deree: Yes. I have to give a major shout out to our product team at Relay. I've never seen harder workers really working towards listening to your feedback and implementing different kind of features to support your workflows. So on top of that, Dan our bill pay feature used to be part of our grow scale.
Grow tier used to be $30 a month, but we've actually put that on starter now. So now you can. Integrate your bill, pay with QuickBooks Pay bills [00:32:00] directly on the platform and sync them right into QuickBooks Online. It's an accountant and bookkeeper's dream as also the business owner, but had to mention that too in terms of some, newer features that we've implemented.
Ar accounts receivable has been a huge focus on us for the end of 2025. We're so proud to have released the. Invoicing feature on relay, so you can actually generate invoices, create them completely for free. You can include your. Your, brand. You can include specific line I line items. You can include discounts, include tax, all the things.
You can even attach payment request with that invoice. And choose different kinds of ways of how you'd be paid. There's credit and debit cards. There is a pay by bank, which is just a direct a aach, H through plaid. You can pay by wire and you can also just. Send information to pay via a [00:33:00] CH as well.
So all different kind of things that you can send with along the invoice. You can track the invoices once the invoice is paid. It's gonna also integrate directly into QuickBooks Online. So really, great way to streamline your invoicing, keep track of your invoicing, and also very cost friendly as well.
On the flip side, we've introduced expense management. Two. This is more of a goodie for the advisors that might be listening into this. So it's actually gonna use AI to auto categorize the QuickBooks category and the QuickBooks vendor for you. And it's essentially a way to clean the books before they even hit the books.
You can set up specific categorization rules too. So it's gonna be like a command control center for all transactions within relay. And then once you can take a look and make sure that they look good, you can sync them into QuickBooks Online and they'll be ready to be reconciled for you there in QuickBooks.
Dan DeLong: Yeah.
Virtual Cards Controls
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Dan DeLong: One of the really cool things that I experienced with Relay [00:34:00] was the ability to just whip out a virtual card at is there a limit to the number of virtual cards that you can create or is it Depends on the plan.
Chloe Deree: No, no. You can basically generate as many cards as you please.
Just try not to break the system. But here's,
Dan DeLong: here's the advantage, right? So I I think it was last, scaling new heights. I participated in a breakout session that was talking about advising for spend management, like you mentioned for the expend the spend management. Now, they were using another platform, but I can see this, I can see relay being.
This, potential solution as well. Yeah. What they were doing is they were using this other platform to create virtual cards and putting a spending limit on the [00:35:00] virtual card per expense transaction. So they would essentially whip out a virtual card for their phone bill, for example, and they would put a spending limit of.
The typical a little bit buffer, right? So if it was $500 a month, they would put a spending limit of five 50, right? So phone companies are pretty, famous for just jacking up their fees or changing changing their fee structure without, expressed written consent of the NFL or, the, business owner.
They may have notified them, but maybe they didn't realize, right? Yeah. So what it allows people to do is to create specific cards for specific purchases, which all feed into the main. Account that you've, tied them to, so there's no extra challenge of [00:36:00] reconciling all of these things.
But the, what they did is, because of that spending limit, if that expense that would be auto charged on that one virtual card exceeded the spending limit, it would get declined. So there would be a notification of, hey. This didn't go, this didn't go through, which would then allow them to look into why did it go through?
Why didn't it go through? It it exceeded the spending limit. It, went up a hundred dollars. Now there's a conversation that, that, that needs to happen with the phone company. Why did our bill go up so much? Then they can easily go in, adjust the spending limit, let it go through, and then now they're in control of their spending as opposed to.
That charge automatically goes through on a credit card and then doesn't get noticed that it's higher until they're looking at some kind of report, which that could be a long [00:37:00] time down the road before that actually happens. Yeah. So do you have other advisors or clientele that, that do that sort of thing with with Relay?
Chloe Deree: Yeah. We can have an entire another webinar talking about our cards feature because it's. So amazing. We hear stories like that Dan, all the time where generate cards for d different purposes for subscriptions, for office bills and all the things. And not only does it help you catch real time, increases in real time, off transactions that you would never catch if you didn't have the system.
But it also allows you to keep track of these transactions a lot easier. And maybe if you're spending a lot in subscriptions, maybe take a second look and say. I don't need Disney plus this, month. I'm, I already have all the other ones. So it just like really forces that eye.
Even beyond that, we've heard so many stories about how these cards really help business owners. Another example is one [00:38:00] business owner that was working he, owned a construction firm. He decided to delegate different cards for gas for his different contractors, his different employees. So each of his 15 employees had their own gas card.
But he set vendor and category restrictions so that the only time this debit card would be approved was at the gas station was getting gas. And so you might not as a business owner, you're not really realizing somebody's gonna get gas. They're going into the gas station, then they're getting a Red Bull.
They're getting themselves a chocolate bar and something that seems so minuscule at the end of the year, look back, you look back and this construction this construction firm owner, the year before his accountant let him know that all these miscellaneous charges from from these types of transactions led up to around $2,500.
Wow. So by doing this and putting these vendor restrictions on, having them only be able to use the card. [00:39:00] Civically to fill up the tank of gas. Really saved him money at the end of the year. And just really helped, him have eyes on that as well. And then the, one other one that I wanna mention is from a fraud perspective.
A lot of the times when you are generating cards for different purposes, you're able to again, set specific category restrictions, vendor restrictions, spending restrictions, and really take control into that card. Whereas if you're. Running a business and you have one card for everything, there's probably hundreds of transactions going through every single month.
And do you really wanna sit down and go through every single one to think, Hey, is this a real transaction? This $3 here and this $3 there? And it's, always the little transactions that add up because they know that they're not gonna get caught. Whereas with these there's, it really minimizes that risk with fraud.
Another great feature, [00:40:00] better cards is that you can also log into the platform and you can freeze and terminate cards in real time. So if you notice that you lost your card, if there's an employee with your card that maybe shouldn't have it, you could just go into the app, freeze the card, terminate it, instead of having to be on hold with somebody for two hours trying to, get that card stopped.
Meanwhile, they're tapping the card everywhere. They right, they can get it. Yeah,
Dan DeLong: Exactly, So you got some guardrails or, boundaries built, in to, to safeguard safeguard your your clients using, these services.
Wrap Up and Next Events
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Dan DeLong: Chloe, thank you for for joining us again on, on another workshop.
If you haven't gotten enough of Chloe she will be joining us next month on the QB Power Hour. We'll be talking, encapsulating the things that we talked about here on the workshops but in a [00:41:00] little bit more presentational format. We'll actually have slides and all that stuff.
It's not as casual as the workshops are here. Look forward to to having you, on the QuickBooks Power Hour. And the next month and next week we are gonna have a method, one of the other power up, folks that we, were just talking about they're gonna be coming on.
'cause we had talked about the Intuit Accountant Suite and you know how it's. Expanding into practice management. We'll, talk about, how, what you can do or how you can utilize method as an accounting practice management tool as well. So they'll be joining us for another casual conversation about that.
So look forward to seeing you then. Chloe, any any closing thoughts?
Chloe Deree: No, that was such a great conversation. I am so [00:42:00] excited to be back next month and kind of talk a little bit more and dive a little bit deeper. But thank you so much for having me.
Dan DeLong: All right, we will see you all on on the workshop Wednesday, and hopefully everybody has a great day.
Chloe Deree: Thank you. [00:43:00]
