Nitin Mittal Senior Manager, Assurance and Risk Advisory at Perfect Accounting .and shared services Pvt. Ltd. Read more…
Any company or organization has costs related to procurement costs, project costs, travel and leisure costs, apart from cost to run the organization including marketing, salaries, buy and sell and so on. Expense reports are the common way to keep records of spending only related to employees that forms one of the components of project management costs and forms the crux of project planning.
Employee expenses are mostly related to travel including domestic and international, entertainment, fuel and buying of small and emergency stuff. Traditionally, companies have been tracking expenses through excel sheets, forms or some form of paperwork which is the case for small teams. But, even small and medium-sized companies require robust expense management systems to provide easy integration with project management systems, store historical expense report data, cater to ease of use for employees and pull out different kinds of expense reports.
Cloud-based expense reports may provide detailed excel like grid interface or present easy interface to upload files and receipts related to expenses. They may also have different sections like food, travel, fuel, entertainment for easy classification. The expenses are then submitted for approval by the manager(s) to be further processed through by the finance and finally emails to be sent to the employees for reimbursements along with the salary. These expense reports can be created at any time and as many as one wants per month.
Officetimer provides a simple yet powerful standalone cloud-based expense management software, as competitive as any other software vendor, that can be accessed with just a browser, from anywhere anytime. The expense management software produces reports along with the provision to be billable by the client, or non-billable to the client, and reimbursements for the employees. We also have expense management integration with Quickbooks software in our roadmap, to be introduced very shortly in due course of time. Do check out Officetimer expense management software at your discretion.