We can talk about how great and smart expense reporting software is for you as the employee or you as the employer but the real people expense reporting causes problems for is your accounting department. We can go through the list of how inconvenient it is to keep your receipts or keep asking what you can and cannot expense for business purposes but the only reason we have to do that is because that’s the information the accounting department needs to make it possible for us to spend the company’s money. So be nice to them. Expense reporting software is helpful for us but crucial for them to function at the top of their game. Accounting departments everyone are in love with the software and they have good reasons.
1. Data Entry
They didn’t get into accounting to mindlessly enter your expenses into the computer, they got into it to mathematically help you spend efficiently and out of necessity. Expense report software automatically puts in the merchant, date and amount of each expense into the program and saves time and boredom for your accountants. No more creating new columns! This also means there is less chance for human error because the program is uploading the information and not someone typing it, allowing the opportunity to make a mistake.
All accountants harbor frustrations about getting expense information later down the line that is not approvable or is not all the information needed. With the expense report software the accounting department can look directly at expenses as they are entered and approve them or deny them. There is also options to make edits to line items that have been reported and give reason for declines. All the while saving your accountants stress of confrontation and insuring accuracy.
3. Integrations With Accounting Systems
This part is the icing on the top. Instead of having to use two programs separately, your accounting team will be able to take the information from the expense reporting software and use it directly with most popular accounting programs. The expenses fit perfectly into the system making all of the big accounting settlements, reports and tax information easy and compact.
Creating efficiency and ease in your accounting department will free them up to help you focus on other financial areas of your company. Helping them make expense reporting a quick and easy part of their job relieves some of their stress and allows them to give more to other projects.