Effortlessly Handle Expenses with Microsoft Dynamics 365 Expense Management Capabilities
Managing expenses in organizations can be a time-intensive and error-prone process, especially if your expense management software is not embedded in your accounting system. Microsoft Dynamics 365 Finance and Operations Expense Management Module allows you to easily register expenses, receive approvals on your expenses, and accelerate payments to employees without the need to switch between applications.
In this blog, I am going to briefly address how Microsoft Dynamics 365 Finance and Operations facilitate your expense management procedures.
But first, what is the
Expense Management Module?
Expense Management is a Microsoft Dynamics 365 Finance and Operations module designed to automate the expense management processes, import credit card transactions, track expense types, define expense policies for your company, and automate reimbursements of expenses.
Let’s hop right in! Below
are just a few of the Expense Management capabilities that can help streamline
your day-to-day operations.
Expenses in Real-Time
The Expense Management
module, specifically the Expense Management Mobile Workspace, enables
employees to register expenses in real-time, quickly, and easily.
Just by taking a
picture with your cellphone through the Expense Management Mobile Workspace App
and uploading it, it will automatically get synchronized with the Expense
Management module allowing you to easily handle expense control while
reducing manual work and errors.
This app allows the
user to select the expense category; pictures of the receipts may also be used
as attachments for expense reports. You may create new expense lines, submit
them for approval and reimbursement, generate reports, attach credit card
transactions, state expense policies, and more.
The expense will appear under the Expense management
workspace, as well as the receipts attached to the expenses
expense report process and quickly submit them
Complete expense reports in even less
time with the major components of the new expense experience: Expense
Access your delegate’s expenses in a new
Improve header-level receipts and
simplify the process of attaching receipts to expense lines with a new receipt
View many more expense lines and
additional columns of data in a new read-only grid
Simplify reporting so nonfinancial
personas can better understand reports.
I invite you to watch this video to
understand the new features and how they can free-up time for you to focus on
more important tasks within your company.
Dynamics 365 Finance and Operations’ Expense Management Module not only helps your company by automating several tasks and running them quickly and efficiently but also releases time to focus on more important activities that bring value to your company, for example, data analysis of financial information, which can also be powered by Dynamics 365 overall visualizations, as we stated in our previous blog about the changing role of the CFO and how decisions must be based on data analytics.
Thank you for reading
this blog! I hope it sheds some light on the advantages Dynamics 365 can bring
to your company and your daily operations.
To learn more about the capabilities of Dynamics 365 Finance and Operations, click here, and to learn how its features apply to your company specifically, please don’t hesitate to request a personalized demo.
Microsoft Dynamics 365 Finance and Operations Junior Consultant at Pangea Group
Andrea is an industrial engineer. She has one year of experience working as Microsoft Dynamics 365 Finance and Operations Junior consultant, focused on the implementation of the ERP systems and processes consultancy.