Expense is a document type that allows you to create expense reimbursement requests.
The Expenses module allows you to cover requests for reimbursement of spent money and corporate expenses.
Usually the Expense document contains the following information:
- Expense Initiator;
- Goods and services, their price and quantity;
- The currencies of each individual expense item;
- Date of expense;
- Date when the expense is to be reimbursed/paid;
How do our clients use Expenses?
Expenses occur when employees:
- spend their own money on behalf of the company and request reimbursement within their salary or separately;
- have a corporate card and should report payments made with it.
Each company has individual processes. We'll look at the most common cases.
Expense is created by an employee of the company. For example, it can be expenses for work trips and travel, events, reimbursements for buying food or other things for the office.
If necessary, the employee attaches receipts or other documents to prove the expense.
This request then goes to the manager of the employee or department for approval. The manager verifies all information and approves the request.
Once approved by the manager, the Expense goes to the accounting department. The accountant reimburses the amount of the Expense and adds the payment to Precoro.