3 min
Traditionally, expense report processing forms a challenging section of accounting, especially for businesses with a large number of staff, high personnel mobility, as well as long and frequent business trips. It can take weeks to deliver paper copies from remote areas or other countries to the company’s office, while the monthly human processing of numerous expense reports creates excessive load for accountants. As a result, long approval processes result in delayed payments, increased accounts receivable and higher logistics costs, while valuable specialists leave the company due to regular concerted effort.
To address these issues, the company needs tools that promote timely and correct documentation processing, including those that make it possible to remotely approve employees’ expenses and negotiate documents. We will share the solutions that will allow you to automate data processing and reduce your accountants’ human labor.
Uploading large volume of Data
Among the key problems faced by accountants face in their work is the processing of original documents. If data is transferred manually, this process takes a long time and does not fit companies with a large-volume document flow. Therefore, in order to simplify the input, the BDO Unicon Outsourcing team sets up extra programs for its clients designed in the 1C language and extending the standard functional range of the accounting system. They make it possible to upload data in the desired format from documents to the database, fill in additional payment details and automatically generate directory entries and transactions.
Specifically, it is possible to configure processing and automate data uploading from axpense reporting service. As a result, an employee is able to fill in a report anywhere in the world, while the only this an accountant will have to do is to check data entered. The confirmed file is automatically uploaded to the 1C database.
Analysing Expenses and Calculating Taxes
To improve timely document processing, it is worth setting up extra features to analyse and track the company’s expenses, including personal income tax and profit tax. These solutions can also be integrated with other corporate systems, for example, in order to track the cash movement on corporate bank cards in real time.
Building the Approval Chain
A service introduced within the company to process expense reports will make it possible to configure remote access to employees, increase the speed of inter-department communication and ensure the operational continuity.
For example, you can provide for different user rights, as well as configure tasks delegation to colleagues according to the company’s internal regulations. This function will be useful in cases when an employee and a manager have no enough time to timely prepare and approve the report on their own, respectively. They are able to delegate the task to their colleagues, deputies or superiors to avoid serious delays in the document movement.
We can help you optimize advance reports processing, reduce the number of errors due to human processing and cut the volume of resources spent on this process. For more information, contact us at: outsourcing@bdobpo.
