Think Credit Cards for Tracking Business Expenses
Struggling to keep an eye on business transactions? Are you losing control over employee expenses? Not anymore. SutiExpense makes transaction management easier with credit card integration that pulls your employee transactions altogether.
Managing employee transactions can be a hassle as it is difficult to check all transactions yourself. But, this will result in huge costs, if not verified and validated. With other methods of reimbursements such as cash advances and personal cards, employees will most likely indulge in expense fraud.
However, this issue can be resolved through credit card integration.
Credit card integration helps businesses manage:
- Out-of-pocket expenses
- Expense splitting for multiple cost centers
- Operational expenses
- Miscellaneous expenses
- Various taxes
By integrating credit cards with your business expense management software, you can track every transaction and categorize quickly, resulting in increased visibility. As every transaction gets automatically populated into the expense report, it becomes easy for you to track transactions by cost centers, clients, and projects. Also, the data can be seamlessly exported into a finance system without manually keying and reports can be generated in a fraction of seconds to see how and where employees are spending.
By automatically capturing pertinent information, you can benefit from organizational taxes. Also, it tells you how to maximize GST recovery – leaving you room to get your real work done.
Compliance
One of the most striking aspects of expense management is T & E compliance. Importing credit card transactions will ensure data accuracy and so you will not report out-of-policy expense claims; therefore, compliance can be achieved. Credit card integration gives you a better control over spend and can speed up the expense approval process. Additionally, you get the complete visibility into transactions made and can easily identify employees reporting out-of-policy claims. Ultimately, this gives you a clear insight into how your company and employees spend to travel and expense budget.
With credit card integration, you will not need to manually enter expense claims into reports. This integration will not only streamline the expense reporting process, but also ensure compliance, increase visibility into spending, manage cash flow effectively, and track GST information for future recovery.
