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Overview of Expense reports

Streamline expense management by grouping expenses, reducing manual work, speeding up approvals, and improving financial accuracy.

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Written by Payhawk
Updated over a month ago

Expense management is a crucial part of any business, requiring streamlined processes and enhanced financial accuracy.

Common challenges in expense management

  • Approvers receive too many notifications.

  • Accountants handle excessive manual work.

  • Employees must categorise expenses themselves, increasing errors.

Key functionalities by role

Expense reports capabilities can benefit approvers, accountants, employees, and Finance teams.

Role

Capability

Approvers

  • View and approve multiple expenses within a grouped report, making faster and more informed decisions.

  • Receive notifications only when the full report is ready, rather than for each individual expense.

Accountants

  • Choose to book expenses separately or as a group for accurate tracking.

  • Hold back incomplete expenses from being exported to the ERP

  • Approve or reject specific expenses without rejecting the entire report.

Employees

  • Automatically group expenses related to a trip or project.

  • Can avoid delays with auto-reminders and auto-submission.

  • Resubmit only returned expenses, instead of redoing the whole report.

  • Correct and resubmit only returned expenses, instead of redoing the whole report.

Finance teams

  • Monitor the submission, approval, and review status of expenses for better financial tracking.

  • Push finalized reports to the ERP as a single entity for structured reporting.

How Expense reports work

  • All expenses matching the specified report conditions are automatically included in the expense report. Expenses marked as subscriptions in Payhawk will not be included in the expense report.

  • Approvers only receive a notification when the full report is submitted.

  • Expense report approval is separate from expense approval - expense approvers can also approve the expense report.

  • Approvers can return a specific expense without returning the entire report.

Next steps

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