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EXPENSE REPORTING POLICY

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Expense Reporting Requires Compliance

With ExpenseVisor, each business expense report can incorporate it's own set of expense reporting policy compliance statements. You can also incorporate company guidelines and your complete travel and entertainment expense reporting handbook online and have it available online for each employee.

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The Sarbanes-Oxley Act

Sarbanes-Oxley (SOX) is part of current business for U.S. public corporations. Compliance is essential to maintaining shareholder confidence and avoiding penalties. In the U.S. SOX is the most important corporate governance and disclosure legislation in over 70 years.

Section 404 of the Sarbanes-Oxley Act mandates company management must demonstrate that adequate internal controls exist to ensure compliance in the accuracy of all financial reporting.

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How Does ExpenseVisor Help With Expense Policy Compliance?

ExpenseVisor helps regulatory expense reporting policy requirements and reduces your risk of fraud by detecting many erroneous expense entries.

ExpenseVisor does not allow exact duplicate expense reports and exact duplicate expense items are rejected even if entered on different reports.

When ExpenseVisor 'sniffs out' similar expense items, users are alerted. If they believe the item is legitimate and submit it for payment, the system will alert your accounting department of the duplication for their review.

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Optimized Expense Reporting

The ExpenseVisor experience provides the following as well as options and customizations:

WORKFLOW FEATURES
  • Mobile and Desktop
  • Simplified and intuitive user interface
  • Unlimited accounts, projects, vendors, etc
  • Receipt imaging via mobile app
  • Credit card pre-population
  • Currency conversion
  • Automated approval paths
  • Management reports and graphs
  • Business rules for policy enforcement
  • Automatic notifications via external emails
  • Built-in audit trails
  • Seamless integration

How Does ExpenseVisor Limit Risk, Improve Accountability?

ExpenseVisor provides you with the following expense reporting policy benefits and controls:

ExpenseVisor Function

  • Expense allocations based on defaults or option.
  • Expense types selected from pre-defined list.
  • Automated audit trail of every expense report.
  • Expense controlled by spending limits and rules.
  • Automatically prompts and requires expense detail.
  • Pre-allocation of corporate credit card expenses.
  • Requires/allows comments for each expense item.
  • Automatically checks for duplicated expenses.
  • Receipt rules can be set per expense type.
  • Allows for authorized proxy submitters and approvers.
  • All corporate policies are highlighted at entry.
  • Automated email to approvers and originators.
  • Aging parameters alert approvers to timely approvals.
  • Optional pre-authorized trip or expense approval.
  • Expense reports flagged if rules violated.
  • Flexible approval path allows for correct approval routing.
  • Expense policies are configurable and easily customized.
  • Seamless integration into 3rd party software.

Your Benefit

  • Expense charged correctly to G/L and business unit.
  • Restricts users from selecting incorrect expense types.
  • Provides complete history of every expense.
  • Flags spending violations.
  • Reduces duplicated or mis-allocated expense.
  • Capture expense simply and correctly.
  • Documents any exceptions to travel policy.
  • Prevents reimbursements for duplicated expenses.
  • Requires users to certify and include receipts.
  • Audit trail records all proxy transactions.
  • Ensures users are aware of potential policy violations.
  • Reduces processing time and workflow.
  • Eliminates slow approval and processing.
  • Assures expenses are pre-approved before they occur.
  • Approvers act on rules violations.
  • Approval paths meet your corporate criteria.
  • System customizes to your spending policies.
  • Eliminates duplicated work and reduces error.

Let the experts at ExpenseVisor assist you with automated expense report management and rest assured you have the best in regulatory compliance software.

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EXPENSEVISOR SIMPLIFIES YOUR EXPENSE REPORT