Credit score Card Expense Management In Microsoft Dynamics Gp

8 Jun

Expense handle is a essential function in the procedure of controlling corporate fees. Expense Management Options are software program applications that can method, pay out, and audit worker initiated expenses. These charges generally incorporate travel and entertainment costs, but sometimes may contain procurement activities as effectively. Escalating numbers of purchases are corporate credit score card expenses which additionally need to be categorized for GL distribution and reconciled with the staff making use of the credit score cards. Similarly, the expense of the card expense assessment process itself needs to be contained. This report discusses how you can import and categorize credit card expenses with in Microsoft Dynamics GP (formerly Fantastic Plains Dynamics) a mid-size to enterprise degree ERP Answer from Microsoft.

Cost management consists of two processes:
– submission of expense claims by the employee (for illustration logging a hotel receipt or submitting cell telephone records)
– processing of expense claims inside of the accounting or ERP technique.

Expense claims submission usually includes an employee completing a paper or spreadsheet-primarily based cost claim, which they then forward along with the related tax invoices (receipts) to their manager for approval. Once the manager has approved the declare, it is forwarded to the Accounting Division for processing. The accounting workers keys every expense item into the Fiscal Program, assigns the respective price group (GL Account) and files the declare.

Microsoft Dynamics GP has an Expense Management include-on, eExpense, that provides online expense reporting and submission abilities. It is a feature-wealthy merchandise which assists businesses automate their Expense Reporting and submission, but however Dynamics GP eExpense does not supply a good interface for managing the categorization of corporate credit card expenses.

Many companies provide corporate credit cards. Managing the categorizing and reconciling of credit card statements at month-finish can be cumbersome and time consuming and may possibly have a tendency to extend the closing method.

For this explanation Alba Spectrum has made a new module for Dynamics GP that streamlines the credit card expense workflow. It enables the accounting department to immediately import the credit card transactions from the economic institution. It then can help the accounting staff to directly allocate purchases to cost categories. Most importantly, it includes an intranet portal which permits the Employee to critique their credit cards statements and assign/confirm proper expense categories. This dramatically decreases the administrative overhead essential to acquire consumer input to finalize price categories and distributions. A lately extra function makes it possible for customers to split each and every card transaction into many price classes.

Alba Spectrum”s Credit Card Cost Manager (CCEM) allows limitless price classes. Every expense category is assigned to a GL Account. Immediately after the card transactions are categorized CCEM permits the accounting employees to post them to Basic Ledger, generating both Financial institution Transaction or Voucher Entries for association with existing vouchers.

CCEM handles integration with the issuing economic institution by way of versatile file import mapping device that permits the configuration of file formats and import principles. This permits credit score card statement information files to be imported from any institution format.

Credit score Card Cost Manager takes the pain away from importing and processing corporate credit score card transactions. It is a “daily life saver” for accounting workers and tremendously cuts-down the processing time and work concerned.

If you have inquiries about Alba”s Credit Card Cost Manager, or want support in implementing or customizing Cost Management in Dynamics GP feel no cost to make contact with us at Alba Spectrum Corporation ( – 1-866-528-0577 – ).

About Alba Spectrum: Alba Spectrum Corporation ( – 1-866-528-0577 – ) is a Chicago, Illinois primarily based Gold-Licensed Microsoft Dynamics Companion. We specialize in producing answers and extensions for Microsoft Dynamics GP (Excellent Plains Dynamics) in the regions of Method Integration, Monetary applications, E-Commerce and Warehouse Management (WMS). We also give strategic consulting on the use and adaptation of Dynamics GP inside of range of industries. We serve Microsoft Dynamics Consumers and Partners worldwide which includes United States, Canada, Latin America, Europe, Middle East, Asia & Australia. Neighborhood solutions are obtainable in Chicago, Naperville, Los Angeles, Irvine, San Diego and Houston.

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