Don't worry! Our FAQs Section will Help you Learn about DIY Card Module in detail.
Q. How to Qualify for DIY Card Solution?
Visit our sign-up page and create an account with us. Submit your card application along with the relevant documentation.
Q. What Documentation Do I Need to Submit for This Solution?
Create an account with EnKash in a few simple steps and verify your account with KYC details.
- Select the type of business you are - Sole Proprietorship/Partnership/Private Limited Company/Public Limited Company/Others
- Submit GSTN certificate
- PAN details of the business
- Submit Owner/Partner/Director details
- Submit financials:
- For Sole Proprietorship - the business financial statements for the past two years along with the owner’s credentials
- For Partnership - the business financial statements for the past two years along with the personal financial statements of the partners
- For Private Limited Company - the business financial statements for the past two years along with finances of the directors
- For Public Limited Company - the audited financial statements for the past two years along with details of the company structure and board of directors
- Credit scores if any of the company or proprietor/partner/directors
- Provide a copy of the partnership deed in case of partnership firm, company, and shareholding structure for a private limited company, and shareholding pattern for a public limited company
- Submit any other relevant documents that are requested at the time of the final credit assessment to get the best possible credit limit for your business
Q. How Does DIY Card Solution Help with Audits?
We provide a free smart dashboard along with your card that enables you to track and manage expenses in real-time. You can also update entries in real-time and keep track of approval status. All these factors will help you with audits.
Q. Can I Use the DIY Card Solution to Meet Statutory Requirements?
For regular payments like GST, you can register the payment portal on the EnKash platform. This enables reminders and auto-fetch options that help you make payments on time and thereby meet statutory requirements.
Q. How to Prevent Fraud with the DIY Card Solution?
You can protect card usage with OTP authorization to ensure that there is no misuse. In case the card is misplaced or lost, you can also block the card from the DIY dashboard.
Q. How to Control Expenses with the DIY Card Solution?
You can set the DIY dashboard to provide you with an overview of expenses and get regular analytics to improve the way your business spends. By optimizing overall spend in your business you can control expenses.
Q. What Other Products Will Enhance the Efficiency of This Solution?
Our other products include expenses and payable management, collections, and CardX. Each of these products will help you grow your business with optimum finance management.
Q. What Does DIY Credit Card Mean?
As a norm, credit cards are in physical form and they have a name, expiry date, CVV code, and the means to scan for contactless payments. However with business credit cards, there is a chance that you may want to further allocate the funds available on the business credit card further to your team. Having a credit limit that they can use for specific purposes can help the business run smoother.
Q. Why Do You Need a Card Module?
You need a card module to manage your business credit card and further allocate funds to your team. The module will help you track and manage the purpose-made cards that you create and allocate to your team members. If one of your employees quit or lose a card, then it is a matter of few clicks to block the card or put it on hold. You can also specify the usage of the card and the limit that you can spend on the card using the card module along with other functionalities.
Q. How Does Credit Card DIY Work?
Credit card DIY helps you manage all activities related to your corporate credit card and ensures that you have the right checks and approvals in place to ensure that the usage of the cards is as per your corporate spend policy.