Business Money Tools
Take control of your business finances with money management tools designed to help streamline operations and drive business growth — all in the Westpac App.
Help strengthen and steady your cash flow
Manage
Stay on top of your business finances and budget better by tracking cash flow, income and expenses.
Categorise
Tag spending with specific categories for advanced filtering and a more organised overview.
Grow
Save time by simplifying financial tasks so you can focus on growing and running your business.
Optimise
Gain valuable insights to help make smart financial decisions, optimising your business operations.
Why a healthy cash flow impacts business well-being
Cash flow, the movement of money into and out of business accounts, is the lifeblood that keeps operations running smoothly. A healthy cash flow ensures that a business can:
- Meet financial obligations and maintain trust with stakeholders
- Invest in growth opportunities and innovation
- Seize opportunities and navigate unexpected financial challenges
- Make strategic decisions to create efficient operations.
Maximise our Business Money Tools
Track monthly cash flow trends
Monitor income and expenses to plan for months with higher costs, or make the most of extra cash to save or reinvest:
- Know at a glance if you’re within budget or if you need to curb spending
- View upcoming payments to ensure your business has the necessary funds
- Check which categories and subcategories have the highest percentage spend
- Review a 12-month interactive summary highlights trends by month
Compare costs across categories
Gain deeper insights into your business expenditures to identify areas for cost reduction or reinvestment:
- Use over 30 categories to compare and analyse spending habits
- Re-categorise transactions or create subcategories to suit your business
- Tag transactions with specific labels for advanced filtering and reporting
- Access monthly and yearly spending overview to guide business planning
Keep tabs on your subscriptions
Get a clear view of your subscriptions, including auto-renewals, fee changes, and upcoming charges to avoid surprises:
- Tag to the Subscriptions category to better understand your recurring expenses
- Avoid unwanted subscription charges and keep your budget on track
- Get alerted about similar unwanted subscriptions and free trial expiration
- Plan for upcoming charges by knowing when payments are deducted
What you need to get started
Sign into the latest version of the Westpac app. Access Insights from below your account list or at the bottom of the home screen.
Automatic access for all business network users
All users or administrators linked to your business transaction account(s) will be eligible to view and use the Business Money Tools. Cash flow insights are generated from the activity within your business transaction accounts.
Transaction tags
Transaction tags can be created by and will be visible to anyone who can view the transaction on the account. All users will see the same tags on a transaction as they won't be able to create unique tags for their sole use.
Transaction subcategories
All users can create subcategories, as well as view and use subcategories created by other users with access to the account.
If a user creates a subcategorisation rule, all users who have access will see the rule. When a rule is created, it will be applied across all accounts held by the business networks, even accounts the creator of the rule doesn't have access to.
Frequently asked questions
Westpac’s business money tools are progressively being rolled out to customers. If you can’t see the insights and tools yet, they’re coming. In the meantime, ensure you have the latest version of the Westpac App so you can access the tools when they become available.
Insights have gone missing?
Insights are triggered based on transaction behaviour and will only appear for a certain amount of time. If there are no relevant insights available for you, or previous insights have expired, your insights section will be blank, until more are triggered.
If there are no insights on your dashboard, they may still be available in your Insights inbox.
Transactions are automatically assigned to categories based on the description that appears on each transaction. The better the transaction description, the better the categorisation. If you feel the category isn’t quite right, you can always edit it within the Westpac App.
To add a tag to a transaction:
- Select an account from the Home page. On either the Recent transactions or More transactions page, you’ll see a list of transactions with the current subcategory displayed.
- Select the transaction.
- Select Edit next to the Tags field.
- You can either select an existing tag or create a new tag to add.
Multi-payments and transfers between accounts are not included in the insights generation.
Generated insights will be available in your inbox for a period of 35 days. Once an insight expires and disappears, it will no longer be accessible.
There are two ways to provide Business Money Tools feedback on the Westpac App:
- Within Insights, you can give a thumbs up or thumbs down along with a written comment
- Using the smart search bar, type feedback then select Quick feedback or General feedback to provide a comment
If you don’t recognise a transaction or feel you’ve been incorrectly charged, you can use the Look Who’s Charging feature to review helpful details like:
- The trading name and logo
- A map of the transaction location
- An address, phone number and website, if available
Things you should know
Online Banking Terms and Conditions (PDF 1MB)
This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the terms and conditions at westpac.com.au before making a decision and consider whether the product is appropriate for you. Transaction fees may apply. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
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