Great Features and Benefits of Zoho Expense

Zoho Expense is an online expense reporting software that automates recording of expenses from receipts, simplifies expense reporting, streamlines the approval process, and provides control over business expenditures. By this blog you will get the deep understanding about the Zoho Expense.

Introduction

Zoho Expense is an online solution that enables organizations to effectively?manage business travel and spend. Zoho Expense automates expense reporting - from receipt to the balance sheet,?and helps organizations save a significant amount of time and effort. Zoho Expense also streamlines business travel and booking, enforces multi-level?approvals, and tracks advance payments.?

Business Introduction

There are certain needs that your company’s teams have that help them achieve?their goals for growth, success, and impact. Each team is different, as they’ll?have different requirements in order to do this. Your financial teams might need?advanced software or tools to help them arrive at exact conclusions so that profit?and loss, revenue, payroll, and so much more are accurate to the penny. Your marketing team might need to get creative with their campaigns?and provide options or activations that are not within their normal window of?capabilities. Your sales team likely has the greatest area of wiggle room, as they?need to travel much more frequently, and they’re entertaining clients to ensure a?positive relationship and display gratitude for their business. Their budget and?expenses are likely a bit more expensive to fit those needs, which?means that there’s a? great deal of requirement to monitor this spending to?ensure that it fits in with your company’s? regulations.

Technical Function

Contents:

1. What is Zoho Expense?
2. Features of Zoho Expense

?1. What is Zoho Expense ?

Zoho Expense is an online expense reporting software. It automates recording of?expenses from receipts to avoid manual data entry. You can also connect your?credit cards to import credit card statements to click and convert statements. You?can group together a bunch of expenses and create an expense report. With?instant notifications and reminders, approvals will be much faster. Zoho Expense?is integrated with Zoho Books, an online accounting software. Once an?expense report is approved in Zoho Expense, they are automatically imported?into Zoho Books. Zoho Expense is also available on all 3 major mobile platforms?- iOS, Android and Windows.

2. Features of Zoho Expense:

• Automated Expense Recording

Upload a receipt and a corresponding expense is automatically created. This way, you can completely avoid manual data entry of expenses.

• Import Card Transactions?

Connect? your credit cards in Zoho Expense and import all your?transactions. By importing credit card transactions, you can instantly?convert them into expenses and avoid double entry.

• Faster Approvals, Faster Reimbursement

Once an expense report is submitted, managers are automatically notified. You can define expense policies like travel spend limits, thus making it?easier to identify reports which have violated policies.

• Pre integrated with Zoho CRM??

Zoho Expense comes integrated with Zoho CRM. With this integration, you?can import users from CRM to Expense. Very soon, you will be able to?directly record and report expenses from within CRM

• Expense Management on - the - Go!

Zoho Expense is available on all major mobile platforms like iOS, Android?and Windows. With built in GPS, users can track mileage when on the?move. You can also submit expense reports to managers while working?remotely.

• ?Expense Control

1. Create multiple policy for various departments

Zoho Expense allows you to add multiple policies for different?departments, cost centers, and branches. You can also assign?policies to your expenses, trips, and advance payments.

2. Add general rules

Create general rules to set maximum expense amount limits, define?when receipts or expense descriptions are necessary, manage?uncategorized expenses, and more. These rules will apply to all?expense categories.

3. Apply category level limits

Select the expense categories that you want to associate with a?policy, and ensure that employees that fall under that policy can only?create expenses under those selected categories. Cap the maximum?amount employees can spend for each expense category as well.

4. Configure mileage rates

Define and enforce different mileage rates for each of your business?departments. Add your organization’s vehicles used and specify?mileage rates for them. Monitor and change these rates according to?your needs

5. Define per diem rates

?Create per diem rates based on location and split them based on?expense types as well. Zoho Expense also lets you configure per?diem rates based on travel hours. Set a per diem rate percentage?and apply it to an employee’s travel hours.??????

6. Detect Duplicates Automatically???

Zoho Expense’s policy engine detects duplicate expense entries?right after they are created. The system then gives you the option to?delete the duplicate entry or keep both. Duplicates are detected?based on date, amount, and currency.

Budgets

1. Allocate Budgets

Set up budgets to control your expenditure. Create budgets for?expense categories or expense types and allocate them for specific?periods, be it monthly, quarterly, half-yearly, or yearly.?

2. Assign Budgets to users??????

You can also create budgets for specific users in order to keep their?spending in check. Once done, you can view their individual?spending and compare it to the set budget to understand whether?they are under budget.

3. Compare Budgets with actuals????????

Just setting up budgets isn't enough. You should also be able to see where you stand with respect to actual spending. With the budgets vs actuals analytic report, get to know if you're on track with your?spending, right from your dashboard view.

Recommendations

Click here to know more about Zoho expense features. https://www.zoho.com/in/expense/spend-control/

Conclusions

In order to make your expense reporting experience more efficient, Zoho?Expense comes with the ability to customize these fields based on your?organizational needs. Though If you want more advanced customizations, A for?Analytics will help you to get the work done.

A for Analytics provides a comprehensive solution to business needs using open source, modern business intelligence tools in the market with the? combination of?revolutionary business model to give low risk to customers.