There might be times when a particular business expense is associated with one or more client or project. So, how do you report such expenses in real-time? That’s why we have come up with the concept of splitting expenses by cost centers.
Whether you have to split expenses by project, client, product or division, our expense report software application allows you to do so with the cost center splitting feature. You can divide expenses by individual project, client, and product line code. The software allows you to split expenses by different projects so that you can get the accurate number based on various projects associated with business travel. A client code is used when a business travel involves more than one client, so that you can divide the cost associated between the clients. And, a division code is associated with multiple branches of the same company. Likewise, you can configure any of these cost center codes which is suitable to your business expense.
In addition to cost center codes, our expense software allows you to enforce limits by expense categories. You can restrict the amount an employee submits for reimbursement by expense category. Otherwise, you can just show a warning message whenever an employee expense goes beyond the limit set. Either way, you can control company expenses and stay within the budget.
Both the cost centers and enforcing limits by expense category helps businesses track where exactly more spending is happening within the company. You can know the spending by project, category, client, product, and division. You will have extensive analytics to determine which areas are costing you more, so that you can make data-driven decisions.