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Payhawk's expense categories is a very powerful tool. They can support the pre-accounting process automatization. Also, they enable faster and easier financial controlling.
What are expense categories?
Categories are user-friendly names assigned to expenses from the mobile app or the web portal. Each category is tied to an optional account code from your chart of accounts or other systems of record. The account codes will be visible only in your monthly report.
Employees can set categories to expenses both in the mobile app and in the web portal. In both cases, employees can see the nested categories and choose the appropriate category with a few simple taps
Why should you use expense categories?
As you know, Payhawk cardholders have to enter an expense category for each expense they upload on the mobile app. If you link each expense category to your own bookkeeping account number, then, pre-accounting is automated! Your controlling team will view this data in the exported excel file. They can start right away analyzing and slicing the numbers.
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