FREQUENTLY ASKED QUESTIONS
Kodo card is issued in the name of your company. The repayment are made directly from your company’s account. You don’t need to stress about getting re-imbursements every month or before the end of the accounting year. On Kodo, as soon as you do a transaction, you can take a photo of your receipts from within the app for expense filing. At the end of the month, expense reports are generated automatically and sent to you. You don’t need to store paper receipts, that can fade with time, and then spend hours reconciling and making excel spreadsheets for expense reports.
From an accounting and tax perspective, it’s prudent to keep your personal and business expenses separate. You don’t want to worry about proving later that the re-imbursement amount you received in your personal account is not taxable salary.
Also, using the Kodo card and making repayments on time will also help you build a good credit score for your business.
A debit card gives anyone carrying it, access to the entire cash balance in your company’s bank account. That’s why you typically have to make a special request to get a debit card at the time of opening your company’s bank account. Kodo cards provide additional security and fraud protection.
Also, debit cards cannot be issued to multiple team members. Kodo allows you to easily issue multiple cards with set spend limits and monitor them in real time using it’s integrated expense management tool.
Kodo is an offering of Eight Finance, a NBFC registered with RBI. We have partnered with Federal Bank and they provide the card issuance infrastructure.
We have partnered with RBL Bank for their banking APIs to provide you a seamless & instant financial services experience.