Overview

The Expense Management module provides a platform for expense claims reimbursement and loans. Through this platform, employees can apply for expense claims and loans, managers can approve claims and loans and Finance department staff can approve claim and loan disbursements. It has several analysis reports such as Loan Tracking Analysis, Expense Reimbursement Tracking Analysis, and Expense Budget Execution Analysis reports that  help managers decide on claim and loan approvals.  It is well-integrated with the Expense Budget , Capital Budget, Accounts Payable, Cash Management and General Ledger Modules and allows direct voucher generation to the General Ledger. 

The Expense Management module helps enterprises plan and control employee expenses, and saves time in comparison to time time-consuming manual process of handling claims and loans.

 Business Workflow

Functions

 Budget Control

Through this function expense budgets can be controlled for expenses in the Expense Management module. Loan documents can be generated from the Capital Budget and expense claim reimbursements can be generated from the Expense Budget, and approval of expense documents is controlled from Expense Budgets. Capital Budgets help the enterprise control loans and Expense Budgets help manage expenses, and improve capital flow.

 Loan Management

This function enables users to process Expense (Loan) Requisitions and Travel (Loan) Requisitions, and has multi-level approval features. The loan approval flow can be designed based on the existing approval workflow. By having a well-defined approval workflow, it is easy for applicants, approvers and financial personnel to have a clear view of loan status, bringing more transparency to the loan process.

Reimbursement Management

This function enables users to process daily expense and travel expense reimbursements. Reimbursement documents can be generated from expense budgets, activities/business opportunities/service requests in the CRM module, or from the Expense or Travel Loan Requisition. Expense reimbursements supports multi-level approvals and the approval process can be designed based on the existing approval system of the enterprise. By having a well-defined approval workflow, it is easy for applicants, approvers and financial personnel to have a clear view of expense reimbursement status, bringing more transparency to the reimbursement process.

Expense Transfer

This function enables users to transfer and allocate expenses from one department to another.  This provides a centralized method to transfer and allocate expenses to different departments. There is also an approval workflow for expense transfers ensuring that there is a clear record of who transferred and allocated expenses.

 Voucher Management

Through the Voucher Management system, users can maintain voucher templates in which debit and credit entries with the appropriate accounts can be pre-defined for a specific type of voucher. Vouchers can then be generated for loan documents, reimbursement documents and expense transfer documents based on the voucher template. These vouchers are then visible in the General Ledger module. This reduces the time and effort required in manually creating entries for each document and reduces possibilities for errors.

 Write-off Management

The write-off function enables users to write-off loans, reimbursements and payments. By writing-off these documents, it is easier for finance department staff to know which loans and reimbursements have been cleared and which have not, ensuring that there is better control and less chance of errors in over payments or missing out on payments. Users can either manually write-off documents or setup the system to automatically write-off based on the associated documents. With a detailed write-off log, it is easy for users to track back and check which documents were written-off against which documents, ensuring that in case any error occurs, it is easy to trace and rectify it.

 Diversified Report Data

There are several analysis reports that are available, such as the Loan Aging Analysis, Loan Expiring Alarm Analysis, and Loan Tracking Analysis reports. These reports help finance department staff track in which department and to whom loans have been provided and claims paid to. The Expense Structure Analysis and Expense Reimbursement Tracking Analysis reports, which reflect the expenses of each department, allowing managers to have a comprehensive view of the expense structure making it easier for them to decide if the expenses are reasonable or not. There is also the Expense Budget Implementation Analysis report that assists managers in monitoring budget implementation.