Why is an expense management app important?
An expense management application is essential for centralized expense tracking, efficient approval workflow, and accurate expense reporting across your organization.
What features should an expense management app include?
- Expense Submission: The app should allow employees to easily submit their expenses by capturing receipts, entering expense details, and categorizing expenses based on predefined expense categories (e.g., mileage, ordinary expense).
- Expense Tracking: The app should provide a centralized interface where employees can track the status of their submitted expenses, view expense history, and check for updates on reimbursements.
- Receipt Management: The app should allow users to upload images of their receipts.
- Expense Approval Workflow: The app should support a configurable approval workflow that allows managers or designated approvers to review and approve/reject submitted expenses.
- Reimbursement Processing: The app should facilitate the reimbursement process by automating the calculation of reimbursements based on approved expenses.