Expense Management 365

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.

Expense Submission

Start a new expense submission by clicking ‘New’.  Select the person that you would like to submit this request to, choose the category of the expense and type in the title. A new request is created. Enter the description of the expense, the amount and attach evidence like a receipt. A request is ready to be submitted!

Expense Tracking

Employees can see all their expense submissions on the first page of the Use’s interface of this app. They can also filter them by the status of their submissions e.g. ‘Open’, ‘Pending’, ‘Approved’, ‘Declined’ and ‘Cancelled’. This interface enables them to track their submissions effortlessly!

Receipt Management

Employees can easily attach their receipts when creating a request. The file types supported include but are not limited to JPEG, PDF and Excel spreadsheets. As flexible as it gets!

Expense Approval Workflow

Managers can see all the expense requests on the first page of the Manager’s interface of this app. They can also filter them by the status of the requests e.g. ‘Pending’, ‘Approved’, ‘Declined’ and ‘Cancelled’. They can click on the pending ones to see the details of the requests including the receipts and decide to approve or decline them. In the Manager’s interface, you can also set designated employees to be the responsible persons of specific departments so that all the requests of a specific department go to that designated person and that person has the permission to approve or decline the requests.

  • By clicking ‘Set Available Status’ in the Manager’s interface, you can delegate the decision making to another person. For example, if the manager of a department is on leave, you can set the status of the manager to be ‘unavailable’ and delegate permission to the assistant manager for that period so that the requests can still go through.
  • Custom feature: if you want, you can have the request submitted shown as a task in Microsoft Planner so that the manager and HR can keep track of which requests have not been approved yet.

Reimbursement Processing

The calculation of the reimbursement is completely done by the system. Take travel expenses as an example, when an employee makes a mileage expense submission, the employee only needs to enter the mileage and parking fee hence the total amount of reimbursement will be calculated and shown. No manual calculation is required for the employee or the HR!

  • By clicking ‘Add Mileage Rate’ in the Manager’s interface, designated persons can set or update the mileage rate. You can update the mileage rate according to the market price of fuel conveniently.

What Expense Management 365 Solves

Streamlined Expense Tracking​ This expense management app automates and simplifies the process of tracking and managing expenses. It provides a centralized platform where employees can easily enter, categorize, and submit their expenses. This eliminates the need for manual paperwork, spreadsheets, or email-based expense tracking, saving time and reducing errors.​

Efficient Approval Workflow​ With this expense management app, the approval process becomes more efficient. Approvers can review expense submissions, verify supporting documents, and make timely decisions. This eliminates the need for manual routing of physical documents or back-and-forth emails, accelerating the approval cycle and reducing delays.​

Improved Compliance and Audit Readiness​ This expense management app keeps a digital record of expense transactions, supporting documentation, and approval history. This makes it easier to comply with internal and external audits, ensuring that all expenses are properly documented and traceable.

Enhanced Transparency and Accountability​ This expense management app promotes transparency and accountability in the expense management process. Employees can track the status of their expense submissions, view approved expenses, and monitor reimbursement progress. This fosters a culture of accountability and encourages responsible spending behavior.