Can the New Ink App Help You Manage Business Finances?

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Can the New Ink App Help You Manage Business Finances?

Million Mile SecretsCan the New Ink App Help You Manage Business Finances?Million Mile Secrets Team

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Did you know the Chase Ink cards have their own app?

With the new Ink app for iPhone and Android you can organize receipts and track employee purchases right from your cell phone.  And it’s free!

Can The New Ink App Help You Manage Business Finances
The New Chase Ink App Wants to Help You Organize Your Business

Let’s take a look at how it might help you keep your business finances in check!

What’s the Ink App?

Link:   Chase Ink App for iPhone

Link:   Chase Ink App for Android

You can use the new Ink app with the Chase Ink Bold (no longer available), Ink Business Cash Credit Card, and Ink Plus cards.

With the app you can:

1.   Save Receipts

After you make a purchase, you can take a photo of the receipt with your smartphone and add it to the transaction listed on the app.

Can The New Ink App Help You Manage Business Finances
You Can Save Records of Your Transactions by Clicking “Add receipt”

Select an image of your receipt saved to your phone or take a photo.

Can The New Ink App Help You Manage Business Finances
Then Select the Transaction That Matches Your Receipt

This will help you track receipts for employee reimbursement, taxes, and more.

2.   Tag Purchases

You can also organize expenses by categories you choose, so you can quickly find them later.

Can The New Ink App Help You Manage Business Finances
By Adding Tags You Can Track and Group Your Purchases

You can set a single tag for each transaction or divide it with several tags.

3.   Limit Employee Spending

Worried about your employees getting carried away with the company card?  You can adjust their spending limit right from your mobile device.

Can The New Ink App Help You Manage Business Finances
Change Employee Sending Limits in the Ink App

Click “Employee spending limits.”  Then select the pencil and enter the new limit.

Can The New Ink App Help You Manage Business Finances
This Can Give You Extra Insurance That Your Employees Won’t Overspend on Their Cards

4.   Receive Purchase Alerts

You can also set the Ink app to send you alerts when there’s a new purchase on the cards in your account.  To activate the alerts, click the menu at the top of the main page.

Can The New Ink App Help You Manage Business Finances
Make Sure Your Phone Is Also Set to Allow Notifications From the Ink App

Move the sliders to the right to turn on purchase alerts.

Can The New Ink App Help You Manage Business Finances
Purchase Notifications Can Help You Keep a Close Eye on Employee Purchases and Watch Out for Fraudulent Charges

Sounds Great, Right!?  But…

While the Ink app has some great features, there are still glitches and functions I think it’s missing.

When I was testing it I received messages saying the app couldn’t connect to Chase.  And it crashed several times.  Also, I was looking forward to trying the purchase alerts, but I was never able to get it to work.

Can The New Ink App Help You Manage Business Finances
I Often Saw This Error Message While Trying to Use the Ink App

Also, the Ink app only holds transactions for the last 60 days.  So this app won’t work for folks looking to organize their yearly or even quarterly expenses at once.

And it would be nice if the app automatically synced to my online account.

Can The New Ink App Help You Manage Business Finances
For Now You’ll Need to Manually Click “Download Receipts & Tags” to Pull Information From the App Into Your Online Account

More importantly, I’m still hoping Chase gives us the ability to easily track bonus category purchases with the Ink Cards the way we can with the Chase Sapphire Preferred.

The 5X Chase Ultimate Rewards points you earn in certain categories with the Chase Ink cards have a spending limit ($25,000 per card year for the Chase Ink Cash and $50,000 per card year for the Chase Ink Bold and Chase Ink Plus).

So it would be great to quickly check which purchases earned 5X points and how close you are to the spending limit.

Can The New Ink App Help You Manage Business Finances
With the Chase Ink Bold, Ink Cash, and Ink Plus, You Can Earn 5X Chase Ultimate Rewards Points (or 5% Cash Back) on a Limited Amount of Spending. But You Still Can’t Easily Track This With the Ink App.

As it stands, you’ll have to assign tags and do the math!

Should You Use the Ink App?

The Ink app is free for iPhone and Android, so it doesn’t hurt to upload it to your smartphone and check it out for yourself.

This app may work for folks who want to quickly save receipts and set spending limits on employee cards from their phone.

But otherwise, you may want to wait to see if Chase can remove the glitches and add other important features.

Bottom Line

The Ink app for the Chase Ink Bold (no longer available), Chase Ink Cash, and Chase Ink Plus is available for free on iPhone and Android.

The app tracks your business expenses by helping you save your receipts, set tags to organize transactions, limit employee spending, and send alerts when purchases are made using a card on your account.

But the app still has glitches.  Some features, like the purchase alerts, didn’t work at all for me.  And there are functions I think it’s missing, such as the ability to easily track your 5X Chase Ultimate Rewards points bonus category spending.

That said, the app is free, so it might be worth seeing if it’s useful for your business.

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Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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