How a business keeps track of employee’s expenses, how it reports on these expenses, analyzes them, and approves and reimburses the employee can define a process that is easy and effective to use. However the opposite can be true. Many accounting systems are old fashioned, and employees often get stuck on doing things the slow and inefficient way due to their methodology and antiquated tools. A cliche image of a bookkeeper hunched over a stack of receipts and toiling over manually writing in a ledger comes to mind. Why use these old tools when easy to use modern, and efficient expense reports management software is available?
Companies must define an expense report workflow that makes sense from a technology point of view, but most importantly from a human point of view.
If the process is easy to understand, and is fast and powerful, then employees are more likely to keep better expense records, and feel good about submitting their expense reports in a timely and accurate manner.
Likewise if the accounting department has the tools to streamline and automate the expense workflow and to use as many modern mobile and desktop automated expense software tools then they too will find the expense report workflow easy to understand, and implement.
Expense Reports Automation
In a modern accounting office employees get bogged down in the mundane tasks of inputting data. A manager or employee goes to the bookkeeper, and drops off an envelope, or a box of receipts gathered on a business trip. The bookkeeper now gets to sit and type, and categorize all of these receipts, create reports and submit them for approval. That’s a silly waste of time when the tools are available to simply have that manager or employee take out their smart phone, snap a picture of their receipts as they dine, pay for books or other legitimate expenses, click the submit button and automatically categorize, add the total, and send the accounting department the receipts. The process can take a few seconds, and getting an expense can take but a few minutes. If the bookkeeper, or employee or manager needs to add a note, or change a total, or the category that takes but a second using a desktop version of the expense management software.
After an expense is approved it is a simple and fast task to reimburse the employee and deposit money directly into the employee’s bank account or credit their credit card.
In the old days, not so very long ago, accountants and business owners would have to keep impossible to keep up to date ledgers of their everyday business expenses. Corporations needed large accounting departments full of people manually inputing expenses from stacks of cash register receipts, bills and invoices. Data entry is the bane of every accounting office employee. Writing in these expenses or typing over and over again is time consuming and prone to errors. Modern software promises to make the chore of Expense Reporting easy and less of a manual labor chore. But, almost all software solutions tend to require more or less manual data entry.
The holy grail of expense reports automation is a system or a software suite that truly automates the process of gathering, inputting, categorizing, submitting, approving and finally getting reimbursed for your business expenses.
The new expense report app promises to be the holy grail of expense reports automation. Starting with their Mobile Expense App for the iPhone and Android smart phones, you can photograph a receipt as you get it, automatically have it scanned, and using sophisticated optical character recognition software, automatically categorize it, and send it to your accounting department for adding to your expense reports, and then automatically sending it for authorization or approval and then get reimbursed quickly and automatically have funds sent to your account.
Expense Reports Management is easy with the right tools. Tallie by Springahead is an integrated software suite that includes mobile expense reports management tools for the iPhone and Android, as well as a sophisticated desktop expense software solution.
Some of the better Expense Reports Management software tools are actually a suite of apps that include a Mobile Solution that lets you snap a photo of your receipts while you are at a store or a restaurant, then seamlessly let you click on a single button to automatically categorize, and submit the receipt for approval so you can get paid faster. Then when you get to the office your book keeper has the Desktop Solution that keeps track of you and other’s business expenses and lets them make any corrections or add any additional notes or combine other receipts, save them and give powerful reports and analytics. You know where money has been spent, on what and when, and at glance understand the big picture of your expenses.
Managing business and travel expenses can be a pain in the neck for administrators and staff, but with the right tools, you’ll improve the work flow for your employee expense reporting process. An improved Workflow begins with an Expense Approval Chain that is specifically designed to reduce data entry for admins, and thus speed up the process. You can approve expenses in a matter of minutes, by clicking on a button, and avoiding typing out details. Approve, and export to files your accounting system requires, or print to PDF or a hard copy. An Expense Approval Chain Configuration or setup allows admins to determine their path for employee filed expenses and reports. Speed up your time, your employee’s time, and greatly speed up employee reimbursement. Everyone is happier, and more productive.