It’s normal for a small business owner to travel for business purposes. While on the move keeping track of the expenses can be a hassle. Thanks to the advancement in mobile technology, you can do business on the go and also keep track of all the expenses including the travel expense. Mobile expense report software is one such application that allows the user to keep track of the expenses while on the move. This app come with handy features such as receipt scanners, synchronize financial data with credit card or business bank accounts, so the user can stay on top of his finances while traveling.
What is mobile expense report application?
This is an offshoot of an existing expense report software on the cloud. Mobile expense report application is installed on mobile device such as smartphones, android as well as iOS, and tablets. The users can upload claim forms, images of their receipt, get reimbursement alerts and more while on the move.
Expense report mobile software is designed keeping in mind the unique requirements of those employees who travel on business purposes and also those who are on the field most of the time. Here are a few features that you need to see if it is available in the mobile expense report application before purchasing.
Top 7 Features Of Mobile Expense Report App
Receipt imaging- The user can get rid of the hassle of keeping the paper receipts. Instead he can photograph the receipt and upload it directly into the app. Mobile expense report app also reduces errors and there is significant reduction in frauds. This is the first feature a small business owner has to check for in a mobile app.
Business credit card and bank account Integration- This is a feature that is commonly overlooked. A good expense report system should enable linking of business credit card. This is to ensure that all transactions are reported and are accurate. The user should be able to export/import credit card as well as bank transactions at real time onto the system to create reports and generate customized views.
Currency Conversion- This is an important feature that a user must check before purchasing the software. If the business has global presence, then the choose an expense report app that supports not only the currency of the each and every country it has presence in, but also have incorporated the tax laws of those countries.
Setting privileges for security purposes- Choose an app that can be customized to suit the business needs. The top management and decision makers should be able to set privileges depending on the ranks of the employees. The user should be able to restrict export and deletion and also control access to view expense.
Reimbursement tracking- The user should be able to view all the communication that takes place between the finance team and the other teams. The software should be able to capture the reimbursable as well as the unreimbursable expenses. The user should be able to keep track of the reimbursement status.
Approval and work flow tracking-The user should be able to manage approval of multiple workflows, route approvals based on job titles and on the amount spend. The software should automate different actions such as approval or rejection upon submission of the receipts and invoices.
Report creation- Create custom views of the financial data using the mobile expense app. You can also search for previous reports using a criteria and keep track as well as create reports by project, customer and financial activities.
Listed above are the top seven features that make a mobile expense report software stand out in terms of time as well as money among other similar app by different entities. Check out whether the mobile expense app has all the required features that are essential for your business.