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Streamline the Process
Does your Expense reporting system consist of Excel Spreadsheets and manual approvals? Is there a risk of miss-keying data into your AP system? Is there a risk that postings are incorrect?
We too faced some of those same problems here at Glovia with a team of Professional Services consultants and sales people on the road all the time. Data was entered into spreadsheets and emailed to managers for approvals. Once approvals were obtained the spreadsheets were forwarded to AP for payment processing, but there was a significant amount of work in re-entering the data, plus the additional risk of human error creating incorrect amounts or incorrect postings.
Glovia Expense Management
To satisfy our own internal expense reporting problems, we developed a module that is now available commercially, integrating Expense Handling to glovia G2 Accounts Payable.
This new module streamlines the whole process of:
- Expense entry
- Approval and payments
- Reducing time and errors
- Making faster more accurate reimbursements.
With Glovia's Expense Reporting & Processing, expense codes are created that include the description of the expense, the account and posting information and an expected value threshold for each expense. When a user claims an amount that exceeds the threshold, they are forced to enter notes and that amount is shown in red for easy identification in the approval process.
Expense users are easily identified with their cost center and it is the combination of user cost center, for example, "Sales West", and the Expense Code, for example, "Car Rental", that determines the posting account. Expense users also have their normal approver defined and can opt-in or opt-out of email notifications. In addition, each user can see the exact status of all their expense reports in a workbench. With our solution, users are provided with views of new, pending, approved, accepted and paid reports, with filters available to quickly narrow down results from a search. From here users can archive fully paid reports, submit completed reports for approval and create new reports. During report creation users can add supporting documents that have been scanned or create a "paper" expense report if needed. Additional features of the Expense Reporting & Processing application include detailed and summary views of the expense report and the ability to add notes to expenses or to the entire report.
Acting as an approver, in this same workbench, a user sees all the reports that are waiting for approval and can view the details and approval history. With this tool, users have access to supporting documentation, can view any amounts over pre-set thresholds and can look at the supporting notes for those amounts. Users can either approve or reject the expense report, with reasons. Once the expense report is approved by the user it is ready for processing by Accounts Payable and all approved reports flow to a new workbench where they can be processed.
In this workbench, the AP user has very similar functionalities:
- Ability to view the report overview,
- Review expense details,
- Access documents and approval history and,
- Review any notes and comments.
In addition, the AP user can see the proposed posting for each report element and, if necessary, make adjustments for any exceptions. Once satisfied with the report and posting, the AP user simply clicks a button to create an invoice for the report, effectively vouchering the invoice and processing the invoice with the correct postings. The invoice number generated during the process is returned to the AP user on screen and stored on the expense report where it becomes visible to the user.
The invoice can now be paid either by check or as part of an electronic payments file.
Take advantage of this important functionality to streamline the whole expense reporting process in your business, as well as save time and increases expense reporting accuracy.