Invoice Management

The devil is in the detail.

For those companies who would like to track everything in detail, web2expense TE (w2e TE) provides an Invoice Management module. Using this module an employee can enter a vendor Invoice with invoice line items and use that invoice in an expense report.

In the expense report, w2e TE tracks the invoice as a report line item. However, the invoice and its line items are kept in separate data tables for auditing and analysis purposes.

Depending on your company’s business requirements you can manage invoices using any expense type.

If you have any questions regarding the Invoice Management module of w2e TE feel free to contact us at 1-866-WEB2EXPENSE.

Currency Management

In its core the web2expense TE (w2e TE) currency conversion engine uses daily currency rates uploaded from European Central Bank. When a user spends money in a foreign currency and enters the transaction amount in that currency, w2e TE converts the amount into the expense report currency automatically.

Users also have the ability to override the default currency rate and enter their own. When a user enters a new currency rate the system keeps track of that currency rate for auditing purposes.

Companies can adjust their user’s currency dropdowns by adjusting the geographies that they do business in.

If you have any questions regarding Currency Management module of w2e TE feel free to contact us at 1-866-WEB2EXPENSE.

Customer Management

In web2expense TE (w2e TE) companies can track expenses for each one of their customers and projects.  A built-in customer organization hierarchy module can help organize customers and allow companies to manage customer accounts easily. A customer hierarchy is composed of three levels:

1. Customer Category
2. Customer Sub Category
3. Customer Group

When organizing customer accounts a company should plan how they would like to manage their expenses. A customer account can be assigned to multiple projects; in addition, companies can assign employee groups to these projects.

An employee can only see a customer account / customer project if they are explicitly assigned to that project. When creating an expense report employees can assign expenses to projects at line item level.

This feature can save time and effort if your company employees work on different customers/projects on the same business trip.

If you have any questions regarding Customer Management module of w2e TE feel free to contact us at 1-866-WEB2EXPENSE.

 

The Importance of Travel Authorization Requests in Per Diem Expense Reporting

When creating an expense report using per diems there are three possible scenarios.  These scenarios reflect the correct way to create an expense report compliant with current rules and regulations:

1. The lodging facility matches per diem rates. In this case the lodging facility, such as the hotel you stay in, can match the rate (Federal – GSA Rate).
2. The lodging facility rate is lower than the government issued rate. For example, the hotel or facility gave you a quotation which is lower than the government issued rate because of a special promotion or some other incentive.
3. The lodging facility rate is higher than the government issued rate. This is generally the case when there is a special event going on in the city.

A travel expense management program should be able to handle all three of these scenarios flawlessly. In scenarios two and three, travelling employee should let the management know about rates before the travel. Travel Authorization Requests (TARs) with proper approval workflows can provide that document and audit trail.

In web2expense TE users who are assigned to FEDERAL expense policy can use actual lodging expenses when a TAR document is created and approved before the trip. The travel authorization audit trail provides an easy mechanism to comply with IRS rules and regulations and handle complex business scenarios which may occur during your travel.

Contact web2expense sales to schedule a webinar and learn more.

Credit Card Transactions and Expense Reports

Like many expense reporting solutions on the market, web2expense TE (w2e TE) is equipped with tools to integrate your company credit card transactions into your employees’ expense reports. In addition, Accounts Payable Manager Role users can integrate your credit card transactions into w2e TE.

It is imperative to note that w2e TE is impartial in terms of credit card data.

When it comes to expense reporting, an enterprise-grade expense reporting solution like w2e TE has numerous advantages over expense reporting systems that rely solely on credit card integration:

1. Cash transactions with receipts – in w2e TE cash transactions with receipts can be recorded into the same expense report where users enter their credit card-based transactions.
2. Adding receipts at the line item level – when an employee spends money using his/her company credit card and moves that transaction into an expense report, w2eTE can enforce your company’s expense policy for receipts at the line item level.
3. Users don’t have wait for their credit card transactions to show up in their account.  They can file an expense report immediately.
4. Employees can have up to five company credit card accounts; in addition, all of those accounts can be linked into an employee account for reporting purposes.
5. Per Diem expenses and personal car mileage expenses are other types of expenses which cannot be entered using credit cards.

When it comes to choosing an expense reporting solution, choose a solution that fits your needs for the long term. At web2expense you can track more, and spend less.

Approval Management

In web2expense TE (w2e TE) there are two basic types of documents, namely Travel Authorization Request (TAR) and Expense Report (ER). Both documents can be managed using built-in approval management functionality.

Following steps are required when configuring approval management functionality:

1. Setting up users with proper roles. There are three approver roles built into the system.
1. Manager Role – Manager Approvers can approve or reject TAR and ER document if these documents are within their approval limits.
2. Executive Role – Executives are manager approvers with very high approval limits. If a document’s total amount exceeds all the approvers’ approving limits before them the system directs the document to executives for approval.
3. Accounts Payable Manager Role – AP Managers are the final approvers both for TAR and ER documents. When TAR document approved by an AP Manager the employee gets their final approval for travel. Final approval for an ER document triggers a payment event.
2. Identifying users as approvers. In w2e TE a manager, executive and AP Manager Role assignments require an explicit approver assignment.
3. Designing and configuring workflows with approval limits.
4. Designing and configuring an organizational hierarchy.
5. Assigning employees and projects to organization groups.
6. Designing and configuring a customer hierarchy.
7. Creating projects for customers and assigning organization groups who can create expense reports for that project.

Approval management is one of the most powerful aspects of w2e TE, and it is available in at no additional cost. Your employees, managers, accounting department and executives can benefit from our paperless expense reporting process by saving time and money for your company.

For more information or to schedule an online demonstration you can contact us at 1-866-WEB2EXPENSE or visit our website.

Itinerary Management | web2expense

Travel itineraries play a vital role in web2expense TE (w2e TE).

When a user creates and uses an itinerary our application automatically applies suitable Per Diem expense rate(s) for the city, county, state or country with applicable travel date restrictions.

Additionally, users and management can track the amount of days spent in any one state. This calculation is imperative for accurately determining the employee’s income tax obligations.

w2e TE comes with built in expense policies; in addition, one can assign policies at the organization or individual level:

Actual Expense Policy – To track actual expenses

Federal Expense Policy – To track employees who are working on federal contracts and using GSA rates

High Low Expense Policy – To track employees who are using IRS high low per Diem rates

There are two additional expense policy types for the US Department of State and the US Department of Defense. Both of these options are configurable options for custom implementations on a per-project basis.

Using w2e TE organizations can also define their own per Diem rates to control the travel expense costs for their fixed price contracts.

For more information visit www.web2expense.com