Writingley
    Facebook Twitter Instagram
    Tuesday, March 21
    • Privacy Policy
    • Disclaimer
    • Contact Us
    • About Us
    Facebook Twitter Instagram LinkedIn VKontakte
    Writingley
    • Home
    • Business

      Get the Best Silver Coins Price in Canada

      March 21, 2023

      How to Turn on Airpods When Case is Dead

      March 13, 2023

      Advice on How to Choose The Ideal Plastic Bottle for Your Product

      March 2, 2023

      Love This Dakimakura Body Pillow From Vograce

      February 10, 2023

      Candy Crush Saga MOD APK: The Ultimate Guide

      February 9, 2023
    • Technology

      What Is Call Centre Monitoring and Why Is It Important?

      March 17, 2023

      Features of VoIP Phone System

      March 3, 2023

      Top 5 Photo Editing Apps to Enhance Your Smartphone Photography

      March 2, 2023

      Eco-Friendly Mobile Repairs: How Mobile Repair Shops are Going Green?

      February 24, 2023

      What is a Surge Protector? An Essential Overview Of What Does A Surge Protector Do?

      February 22, 2023
    • Home Improvement
    • Lifestyle
      • Fashion
      • Travel
      • Health
      • Art
      • Recipe
      • Pets
      • Fitness
    • Gaming
    • More
      • Digital Marketing
      • Automobile
      • Real Estate
      • Education
      • World
      • Law
      • Finance
      • Sports
      • Entertainment
    • Contact
    Writingley
    You are at:Home » Improve Expense Reporting with Online Expense Report Software
    Tech

    Improve Expense Reporting with Online Expense Report Software

    adminBy adminNovember 24, 2022Updated:February 20, 2023No Comments5 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Last Updated on February 20, 2023 by admin

    Expense reporting is an inevitable activity. Employees travel, and when they do so for business purposes, the organization must reimburse them. This process of reporting and reimbursement can be simple or a tedious task that is riddled with inefficiencies.

    Unfortunately, today, many organizations still manage their expenses using manual expense management practices. Manual expense reporting can be lengthy, expensive, and inefficient; just a mundane activity like the physical movement of paper requests and reports from one desk to another proves these points. There is a myriad of other activities that must be performed, and these can seriously magnify the inefficiencies.

    The solution to this inefficiency and the way to make the expense management process simple is to deploy online expense reporting software. As mentioned earlier there are several activities involved in expense management. The traveling employee prepares tentative pre-trip expense reports which must be approved by a supervisor. Once the employee finishes the trip, post-trip expense claim reports are to be prepared and submitted to the concerned department. These claims then must be verified and checked for adherence to company travel and expense policy. Once it passes through all these steps, the employee is then reimbursed.

    All these activities, when done manually, increase the time taken for processing whereas expense report software significantly decreases the processing time. There is no need for any paper pushing by any employee; the entire process can be carried out online. An online signature software solution can be integrated with the expense management solution to accelerate the process of adding signatures to documents. Users simply sign online on soft copies instead of making wet signatures on paper documents.

    Another reason expense management is tedious is that the number of stakeholders involved in the process uses their methods and systems. The supervisor might want the pre-trip request in a mail instead of on paper, the accounting team might like a paper report, or the employee might use a different format of reporting than what was initially agreed. In such a scenario, everyone suffers because they now must duplicate data. Visibility also suffers because of the sheer number of different systems the data must be collected from. There is no convenient way to create reports either.

    The current economic condition forces management and finance departments to ensure that employees are not being overly enthusiastic about spending company money. One way to restrict unnecessary expenditure is to ensure that accurate and detailed records are kept. These records will help in future audits and investigations.

    Expense Report Software has a few interesting facts and benefits for your organization. An interesting insight is that this software allows excluding spreadsheets and manages the expenditure made by employees on business trips in the most efficient way. These are the major benefits of using this application:

    Scan expense receipts online:

    The software makes expense receipt management easy as employees can upload expense receipts from a smartphone or any device from anywhere. They can also send it via email after capturing an image of the same using a webcam. It also allows employees to email receipts to a designated email Id. Comments can also be added to receipts and they can be attached to an expense report or an individual line item depending on how the solution has been configured for the organization.

    Auto receipts to expense:

    This solution uses data extraction technology which scans data and extracts it directly into expense reports.

    Currency conversion:

    This expense reporting software allows currency conversion automatically as it pulls exchange rates based on the date of expense and currency selection. The user can override the exchange rate if required.

    Corporate card integration:

    The software is integrated with major corporate card providers like Visa, Master Credit and Debit Card, and AMEX. Now users can check their credit card transactions. They must select the expense report and transactions they would like to add. The transactions and details will be added as line items to the expense report automatically removing the manual system.

    Mobile access:

    Users can now access their expense reports while traveling, by using a mobile app. They can create and submit reports through icon-driven menus and screens. This application allows attaching receipts, viewing company policies, and more.

    Email notification:

    This software has an in-built email notification system that notifies users of the submission of the report and approval of it. Email notifications can be enabled for other actions within the system.

    Expense reports can be submitted conveniently from travel itineraries. Corporate credit cards can be dragged and dropped into the online report system to create line items. Users can also use their smartphones to attach receipts and access their expense reports. With online expense report software, though, there is no scope for this. It is an end-to-end system that manages all aspects of expense reporting. From the employee to the accounting professional, everyone logs in with their credentials and uses the same system. Be it the routing of the workflow, the formats, the policies of reporting, or the procedures, everything is streamlined.

    As all the expense management-related activity is confined to one system, there is no issue of lack of visibility either. The software comes with a reporting feature that allows you to make sense of all the data. You can create different reports with a few simple clicks. So, what do you say? Are you ready to shift to expense report software?

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleTips for Decluttering Your Home and Living a More Minimalist Lifestyle
    Next Article How to Improve Your Personality and Be More Attractive?
    admin
    • Website

    Related Posts

    The Power of 777 Hz Frequency: Everything You Need To Know About 777 Hz Frequency Benefits

    March 14, 2023

    Unlock Your Android’s Full Potential with Deepsukebe APK Pro and Devil Ajit VIP Injector

    March 3, 2023

    Insta Pro APK (Latest Version) v9.70 Free Download

    February 17, 2023

    Comments are closed.

    Archives
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • September 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • September 2019
    • June 2019
    • May 2019
    • September 2017
    Categories
    • Art
    • Automobile
    • Business
    • Daily Bites
    • Digital Marketing
    • Education
    • Entertainment
    • Fashion
    • Finance
    • Fitness
    • Gaming
    • Health
    • Home Improvement
    • Law
    • Lifestyle
    • Pets
    • Real Estate
    • Recipe
    • Sports
    • Tech
    • Technology
    • Travel
    • Uncategorized
    • What's hot
    • World
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    • Facebook
    • Twitter
    • Instagram
    • Pinterest
    Don't Miss

    Auto Draft

    Get the Best Silver Coins Price in Canada

    How to Properly Prepare Your Home for Exterior Painting

    Tyceratops: A Fierce and Mysterious Dinosaur

    E-mail Newsletter
    • Facebook
    • GitHub
    • Instagram
    • Pinterest
    • Twitter
    • YouTube
    Footer menu
    • Privacy Policy
    • Disclaimer
    • Contact Us
    • About Us
    About

    Welcome to writingley.com, it is the right choice for interesting articles, updates, amazing facts on many topics including technology, food, health, recipes, and traveling. We are determined to provide you with the best of our work and we hope you enjoy our articles.

    Facebook Twitter Instagram LinkedIn VKontakte
    Popular Posts

    Auto Draft

    March 21, 2023

    Get the Best Silver Coins Price in Canada

    March 21, 2023

    How to Properly Prepare Your Home for Exterior Painting

    March 20, 2023
    Copyright © 2023. All rights reserved by Writingley.
    • Home
    • About Us
    • Contact Us
    • Disclaimer
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.