Negative Expense

Negative Expense Negative expenses are transactions that reduce total expense amounts, such as refunds, overpayment corrections, or reversals, ensuring accurate reimbursement calculations. These can be manually entered by employees or auto-detected from integrated corporate cards. The system links negative entries to original claims, updating totals in real time for transparency. This reduces payout errors and […]

Non-Reimbursable Expense

Non-Reimbursable Expense Non-reimbursable expenses are costs incurred by employees that fall outside a company’s reimbursement policy, such as personal entertainment or unapproved expenses, and are not repaid. These expenses are flagged automatically through configurable policy rules, ensuring transparency without impacting reimbursement totals. Employees can log them for personal tracking, but the system marks them clearly as […]

Managed Travel

Managed Travel Managed travel is a corporate program that centralizes employee travel bookings through approved tools and vendors, ensuring cost control and policy compliance. It streamlines processes by integrating with booking platforms, automating pre-trip approvals, and matching expenses with travel data. This approach minimizes expense leakage by restricting off-platform purchases and enhancing traveler safety through centralized tracking. […]

Mobile Expense Reporting

Mobile Expense Reporting Mobile expense reporting enables employees to manage business expenses directly from smartphones or tablets, streamlining submissions with real-time accuracy. Using dedicated apps, users can scan receipts, log mileage, and categorize expenses on the go, reducing lost receipts and manual errors. Features like OCR, multi-currency support, and offline entry enhance efficiency for field […]

Mileage Reimbursement

Mileage Reimbursement Mileage reimbursement compensates employees for using personal vehicles for business travel, calculated at a fixed rate per mile or kilometer, ensuring fair repayment for work-related trips. This system supports field employees by covering costs like fuel and vehicle wear for client visits or off-site meetings. Automated tools streamline tracking with GPS or map-based […]

Lodge Card

Lodge Card A lodge card is a centralized corporate credit card used for travel expenses like flights and hotels, managed by travel departments to consolidate spending. Unlike individual corporate cards, it covers multiple employees or guests, leveraging negotiated vendor rates. Systems auto-import and match lodge card transactions with bookings, flagging non-compliant charges. Allocation to departments […]

Liability

Liability In expense management, liabilities represent amounts owed, such as pending employee reimbursements or vendor invoices, tracked as financial obligations. Systems record approved expenses as liabilities until paid, with real-time tracking of unpaid reimbursements or advances. Automated GL coding and policy checks minimize errors, while integration with accounting systems ensures accurate syncing. Reports detail outstanding […]

Lease Accounting

Lease Accounting Lease accounting tracks and reports leased assets like offices or vehicles, ensuring compliance with standards like IFRS 16 and ASC 842. In expense systems, lease payments are categorized, allocated across departments, and linked to contracts for accurate financial reporting. Recurring entries and documentation uploads support audit trails, while integration with accounting systems ensures […]

Leakage

Leakage Leakage in expense management refers to spending outside approved systems or vendor agreements, complicating cost tracking and control. Caused by direct bookings or personal card use, it increases non-compliance and weakens vendor negotiations. Systems detect leakage through policy flags and unapproved expense alerts, enforcing centralized booking and pre-approvals to reduce it. Analytics highlight off-platform […]

Journal Entry

Journal Entry A journal entry records financial transactions in the General Ledger, detailing debits and credits for accurate accounting. In expense management, approved expenses are converted into journal entries, automatically mapped to GL accounts, including taxes and currency conversions. Customizable formats ensure compatibility with accounting systems like NetSuite, with manual review options for accuracy. Linked […]