It's Wednesday at lunchtime, you ask for the bill from your menu, and you get the receipt. Don't wait to give it to your manager, share it in your Factorial account! It will be as simple as taking a photo of the receipt and uploading it to your Expenses folder in your documents directory.
From now on, as an administrator, you will be able to monitor your employees' expenses through Factorial. By installing the Expenses feature, you will be able to organize, view, reject, approve, and track your employees' expenses in a quick and easy way.
You will save time approving or rejecting pending expenses and avoid having to enter amounts and concepts in a messy excel. Just keep it simple!
Below, we show you everything you need to know to be able to know the flows and processes of this functionality.
How do I install and set the feature?
To install the Expenses feature, go to the side menu on your left, under Apps > Expenses.
Once we have accessed the Expenses app, it will take us to the General view of the feature, where we can access the general information about it and install it in our company account.
Once the administrator clicks on the "install the app" button, the modal will appear to choose the responsible who will decide to approve the expenses in your Factorial account.
Note ✍ : The configuration of Expenses will not be completed until the administrator decides who will be in charge of approving/rejecting the corresponding expenses.
If you cancel this action or close the modal, you will be redirected to Apps > Expenses again.
Once installed, you will be taken directly to the Settings view. The settings view will show you the folders available in both directories (employee and company) and also allow you to choose the person responsible for approving/rejecting the staff expenses, in case you want to change it.
How do I approve/reject an employee's receipt?
To do this you must be the person responsible for approving/rejecting expenses in your company account.
In case you are the chosen one, we show you the flow to do this from your user account. You will see that when an employee shares a bill/receipt in his "Expenses" document folder, you as the person responsible for approving/rejecting expenses will see a notification in Pending Tasks on your Dashboard section.
Clicking on the task it will take you directly to the view of the expense to be approved.
You can access the invoice as well, by going to Employees > selecting the employee, and going to their document directory > Expenses Folder. You will have a view of the document and its status.
When you access the document in order to approve/reject the expense made by the employee, you will have a view of the receipt, and a pop-up allowing you to approve or reject the invoice.
You will also see, that you will have the data about the receipt/invoice to your right. These fields will be previously filled in by the person who has shared the expense file previously.
Note ✍🏽 : These fillable fields will be automatically created when you install the Expense Management application. There will be 4 fields by default, offered by Factorial.
You can check these custom fields in Company > Files > Expenses and you will see the available fields. In case you want to add some more fields, you will have to upgrade to the Enterprise plan. Also, you can delete some of the 4 fields in case you don't want to show them to your employees.
Once you have approved the document, its status will change from pending to approved in the document view in the employees' Expenses folder. So if there are a lot of receipts or invoices in the employee's Expenses folder, you can quickly see which ones are approved, pending, or rejected.
How can I track reports from Expenses?
Extracting expense reports from your company account will be a breeze!
You can take advantage of the Expenses feature to analyze what kind of expenses your staff are consuming, the average expense per employee each month, the approved and rejected invoices per month, the transportation cost of each employee per month, or the meal cost for your company each month.
To make this type of reports, simply go to Reports > Create a custom report, and you will be able to get reports related to your staff's expenses.
In case you have never used the Reports functionality, you can check this article where we explain how to create a custom report in Factorial.