Bequent has developed a range of expense management solutions to streamline purchasing and simplify reporting and reconciliation processes for work related expenses. This helps an HR to reduce loads of paper work and saves time by keeping track of every bit of their expense through the database from this software.
Any kind of expense of an organization can be added by this module very easily. You can enter expense items and an estimated monetary amount for each one. For example, if you are taking a business trip, you might select an “airfare” expense item, which can be added from expense category and enter the estimated cost of the tickets, and note the destination in the “Description” field.
You can see all upcoming expenses of your employees as well, thus you can approve or reject expenses, and you can also create expenses and add a receipt with it.
An expense report is commonly used for recording business expenses such as transportation, food, lodging, and conference fees and so on. But an expense report can also be used to document any business expense for which an employee needs to be reimbursed. You can see expense reports of every month in this section.
An expense report provides an accurate record of a business’s spending, which is important for budget planning and tax reporting. Providing receipts for all expenses listed on a report helps prevent mistakes and prepares businesses for filing taxes and completing audits. For this reason yearly expense report is also available in expense module too.