Expense

Expense codes specify the types of costs that can be incurred for business activities and purchases in your organization. Meals, Parking, and Airfare are examples of expense codes.

You may be allowed to reopen an expense sheet before it is approved, or may be allowed to reopen an expense sheet regardless of its status (approved or waiting for approval), depending on the access enabled.

Time and expense entries are sent to each employee’s assigned approvers – supervisor, project manager, or a client representative. They can view the approval status of expense sheets, in the application or in reports, to confirm whether all expenses needed for downstream calculations have been approved. If items they want included aren’t approved, they can override the regular approval process to make them available.

No, you don’t typically need to manually enter taxes while entering expenses. Based on the administrator settings, the system automatically applies tax on the net amount (pre-tax amount) that you enter for an expense type for which taxes are applicable. You may also be allowed to override the predefined tax rates for an expense type.

Yes, users can easily upload digital receipts when they enter their business expenses. This allows you to easily maintain the documentation needed if your client ever wants to see the receipts while speeding up your expense processing. Users can easily upload receipts from their mobile app or through the computer as is convenient for them. Managers also have the option of approving those expenses through their mobile app.

When entering any business expense, users can have the option of specifying if those expenses are reimbursable. You can check the reimbursement amounts and status in the expense sheet for the user. Managers with the appropriate permissions can also modify and update the status as needed.

The billable status for business expenses will be defined under the Time & Expense Entry field for expense sheets and projects. Therefore, there is no need to set up any billable status separately for a project if you are only tracking business expenses for that specific project.

You can use the data you get through business expense tracking in several ways such as client billing, profitability calculations, payroll processing, etc. Deltek | Replicon provides reports and features to help with these tasks. Additionally, you have the ability to transfer the data to a wide range of third party software such as accounting tools and ERP through Deltek | Replicon’s robust integration capabilities.

To prevent business expense tracking for a specific project, ensure that no expense codes are assigned to that project. If you still need to track recurring expenses that are non-billable, include the relevant codes. However, instruct employees to deselect the checkbox for ‘Bill Client’ when entering expenses for that particular project.

With a business expense tracker app, you can easily capture and manage all expenses associated with a particular project. This allows you to easily monitor the expenses incurred while working on the project from one single location and make the right decisions around the project’s finances. Additionally, our business expense software allows the data to be quickly leveraged for more accurate client billing and payroll.