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What is Expense Report Software?

Although the term "Expense Report" sounds like a report of expenses, the term actually refers to a request for reimbursement. Expense reports are often needed for reimbursements of travel-related expenses but they are also used for other kinds of reimbursements.

Expense Report Software

Generally speaking, Expense Report Software manages the processes surrounding the requests for reimbursement, its verification via receipts, approval, and the disbursement of funds.

When travel is associated with an Expense Report, the request for reimbursement is often preceded by a request for travel -- to get approval on the estimated expenses prior to the anticipated travel. These requests are known as Travel Requests, and can be paired with the Expense reports that follow the conclusion of Travel.

Types of Expense Report Software Systems

Expense Report Software has varying levels of complexity. Basic systems provide a request form the user fills out, a place to photo-attach receipts, and automated approval flow to have the request approved sent to accounting for payment, and closed after payment.

More advanced systems add one or more of the following features:

• Integration with Accounting
• Automated GL Coding (based on self-learning)
• OCR scanning of receipts.
• Pre-travel Requests with Approval and Flip to Expense Reports
• Automated Per-diem Calculations
• Configurable Security Warnings and Blocks
• Cash-Advance Support
• Credit Card Reconcilliation

Cost Trends With Expense Report Software

Today's most popular Expense Report systems have experienced major cost increases. At the same time, Aestiva in the opposite direction -- offering lower-end power-packed QuickCloud solutions. If you have an existing system from a major provider you may want to look at changing to Aestiva. You may save tens of thousands of dollars annual and get a system tailored to your needs. Call for details.

See Also

Travel Request Software, Reimbursement Software