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“ Dynamics 365 Business Central and Expense Management ”

As companies are now working in a hybrid working environment, they need to review and post business expenses claims in a more efficient way. Employees will have one less thing to worry about with a system that tracks spending and allows them to make copies of receipts and invoices for subsequent submission. This is why Microsoft offers Business Central

Today, we will see what is expense management in BC and how its features can benefit your workflow management. But let’s start with an example of a third-party software, a software company that has been delivering Expense Management to Dynamics NAV and Microsoft dynamics 365 business central for more than 25 years.

business central

How does a third-party software help in controlling expense management?

Your finances can be in control of all the electronic expenditure reporting and approvals using the third-party Expense Management 365 App. To get a complete picture of all charges, you stay in Microsoft Dynamics 365 Business Central.

Employees can submit expenses immediately from their mobile phones, which can then be processed and approved or rejected.

Everything is in one system because the procedure is directly integrated with Business Central’s approval and processing workflows.

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What is the expense management process in d365?

Businesses may use Dynamics 365 Expense Management to create integrated processes that can track payment information, import credit card transactions, and control employee expenses. Cost Management also allows you to define expense policies and automate the reimbursement of travel expenses.

How you can use expense management in Business Central ?

It enables the process of automating approval processes and keeping track of employee spending both in and out of the office in real-time. Using Business Central, a unique Expense app, and a Web Portal, this solution makes registering and approving business-related spending and travel activities easier than ever before.

expense management in business central

Features of Expense management in Business Central

Features of Expense management in Business central

When you incur an expense, input it on your phone and take a photo of the receipt. Or forward any emailed receipts for online bookings. So nothing gets missed when you file your expense report later.

Transactions using credit cards are loaded into Dynamics Business Central.

Mileage is a feature that allows passengers to manage mileage charges while on the road.

A per diem is a daily amount paid to a traveling employee to cover meal and accommodation expenditures.

For speed and accuracy, foreign travel expenses can be entered in any currency, with automatic currency translation into your home currency.

Automatic reminder emails assist expedite the cost management process and saving time for your finance staff by chasing down late approvals.

Takeaway

Businesses working with different approaches need to see the full picture of their expenditures. And the expense management process through the ERP system can make it fast and reliable. As a business manager, expense management software makes you worry about one less thing if you have Business Central integration. If you don’t know how to benefit from the features of the expense management system, let the DHRP help you with it.

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