What is Zoho Expense?
Zoho expense is the expense reporting module of the Zoho cloud-based software suite. It offers a seamless expense management experience by automating expense recording from receipts, simplifying reporting, and streamlining approvals, ensuring smooth expenditure tracking and control.
What is the Difference Between Zoho Books & Zoho Expense?
While Zoho Books offers a basic expense module, Zoho Expense takes it further by providing a comprehensive expense management experience.
Zoho Expense boasts features like:
- Automated expense report generation
- Streamlined report approvals
Integrate Zoho Books with Zoho Expense to manage your accounting and expenses seamlessly in one place. This integration ensures your expense data flows smoothly between the two applications, saving you time and effort.
Does Zoho Expense have an app?
Zoho Expense offers extensive coverage across mobile devices, supporting iOS, Android, and Windows platforms. It offers unmatched flexibility and features!
Zoho Expense Features
Receipt Management, Expense Management and Mileage Tracking
With features like advanced auto scan, Zoho Expense assists you by tracking expenses efficiently. Time-consuming tasks such as manual sorting and record-keeping of paper receipts are no longer required. Storing receipts on the cloud storage is safe and secure. You can transfer them to Zoho Expense and turn them into bills. Zoho Docs, Evernote, Google Drive, OneDrive, and Dropbox, can all be imported into Zoho Expense. If you have a pile of receipts from your client visit, upload them in bulk and Zoho Expense will turn them into individual expenses.
Zoho Expense has powerful features for uploading every business expense you encounter, saving time, money, and stress – never letting an expense go unaccounted for. Employees can add any expenses made in local currency, and Zoho Expense will instantly convert them to your organisation’s base currency. Zoho Expense lets you itemise your expenses to apply any applicable tax appropriately. With advanced form customisation—custom fields and page layouts, you can decide how the expense creation should appear and expedite the process for staff members by removing fields that aren’t necessary.
Eliminate the hassle of recalling how far you went on a business trip to track mileage. Mileage tracking is automated using Zoho Expense without sacrificing data security or accuracy. Employees can use GPS to track mileage using Zoho Expense. With the aid of an analytical report, Zoho Expense not only assists in precisely tracking your mileage expenditures but also keeps you informed about them. To maximise the budget, run the report for each user to discover how much mileage they have accrued. Then, modify organisational policies or travel routes.
Corporate Card Reconciliation:
Zoho Expense is an excellent tool for managing corporate card expenses. Get an overview of employee spending on each card by automating the reconciliation process. Zoho Expense provides:
- A comprehensive dashboard that gives you a spending summary.
- A list of transactions that need to be expensed or reported.
- An overview of all the active, inactive, and unassigned cards.
Use the corporate card login information to access Zoho Expense. After that, Zoho Expense will automatically import the feeds for assessment and reconciliation.
Expense Report Management and Expense Report Automation:
With Zoho Expense, the expense report management process for the whole company is simplified. Employees can apply business advances to their expense reports using Zoho Expense, which automatically deducts the reimbursement amount.
Zoho Expense automates adding expenses to a report and submitting it for approval, saving considerable time. Once you set up expense report automation, Zoho Expense automatically sifts through the expenses and adds any unreported ones within a specified date range to a report. This report will then be ready for submission.
Simplified and Customs Approvals:
With Zoho Expense, you can set up approval flows for advance payments, trip requests, and purchase requests. Thanks to automation and user-friendly dashboards, the process is simple. By setting up linear approval hierarchies, Zoho Expense can automatically route transactions to the right person for approval. Zoho Expense provides a centralised dashboard for approvers and administrators to view submitted transactions for approval. While administrators can see all transactions, approvers can only see the reports, advance payments, travels, and purchase requests that are presented to them.
Using Zoho Expense, you can design approval flows using unique criteria based on logic. Create approval procedures that suit your needs. You can also set up different approval levels for a transaction. This ensures that no request for approval is granted without the necessary scrutiny. Up to ten levels of permission can be added.
Reimbursement:
Process expense reimbursements faster and more efficiently. Payroll and ERP software settlements can be synchronised with Zoho Expense. Quicker expense reimbursements delivered directly to employees’ accounts make employees happier.
Audit and Compliance:
Zoho Expense’s AI-driven fraud detection engine scans through our expense reports and finds suspicious transactions automatically, so you don’t have to manually review every transaction. Get a detailed log of every activity inside our Zoho Expense account. Run audit trail reports and know when a transaction is created, modified, or deleted. This will help you find suspicious activity while auditing.
With up-to-date security certifications and dedicated editions for different regions and security certifications, Zoho Expense helps you always stay compliant with government regulations.
Summary: How Zoho Expense Helps Businesses
Automation:
- Auto-scanning receipts: Capture expense details automatically by photographing your receipt with the mobile app.
- Expense report automation: Automate the creation of expense reports by setting rules based on categories, vendors, or amounts.
Streamlined workflows:
- Corporate card reconciliation: Automatically reconcile corporate card transactions with corresponding expenses, saving time and reducing errors.
- Direct feeds: Integrate Zoho Expense with your bank or credit card provider to automatically import transactions.
- Streamlined approvals: Set up automated workflows for expense report approvals based on predefined rules and hierarchies.
Customisation and control:
- Highly customisable: Tailor the software to your specific needs by creating custom fields, layouts, and even functionalities.
- Expense policies: Set clear spending limits and rules to ensure employees adhere to company policies.
- Comprehensive reports and analytics: Gain insights into your spending patterns with detailed reports and visualisations.
Integration:
- Zoho ecosystem integration: Easily integrate Zoho Expense with other Zoho applications, such as Zoho Books, Zoho CRM, and Zoho People, for a unified experience.
- Third-party integrations: Connect Zoho Expense with other popular accounting and business tools.
These features, along with its user-friendly interface and mobile app access, make Zoho Expense a powerful tool for businesses of all sizes to simplify and manage their expenses efficiently.
Why Affiniax for Zoho Implementation?
Affiniax is a Zoho Premium Partner and has fully trained professionals to help you implement Zoho. Contact us today for best quotes on customisation and implementation.
Frequently Asked Questions (FAQs)
1. What is Zoho Expense?
Zoho Expense is a comprehensive travel and expense management solution designed to streamline travel arrangements, expense reporting, and cost control for businesses.
2. How does Zoho Expense help with receipt management and expense tracking?
Zoho Expense offers advanced features like auto scan to effortlessly track receipts. Paper receipts can be stored on cloud storage and imported into Zoho Expense from platforms like Zoho Docs, Evernote, Google Drive, etc. Additionally, employees can upload receipts in bulk and Zoho Expense will convert them into individual expenses.
3. Does Zoho Expense support multi-currency expenses?
Yes, employees can add expenses made in local currency, and Zoho Expense will instantly convert them to the organization’s base currency.
4. How does Zoho Expense help with corporate card reconciliation?
Zoho Expense streamlines corporate card expense management by automating the reconciliation process. It provides a comprehensive dashboard for monitoring employee spending on each card and automatically imports feeds for assessment and reconciliation.
5. Can Zoho Expense synchronize with payroll and ERP software for reimbursement?
Yes, Zoho Expense can synchronize with payroll and ERP software settlements for faster and more efficient expense reimbursements.
6. Does Zoho Expense automate expense report management?
Yes, Zoho Expense simplifies expense report management by automating the process of adding expenses to a report and submitting it for approval. Employees can apply business advances to their reports, which are automatically deducted upon reimbursement.
7. Is Zoho Expense mobile-friendly?
Yes, Zoho Expense is accessible on mobile devices through dedicated mobile apps for iOS and Android, allowing users to manage expenses on the go.
8. Does Zoho Expense offer fraud detection features?
Yes, Zoho Expense includes an AI-driven fraud detection engine that automatically scans expense reports for suspicious transactions. Users can also run audit trail reports to monitor transaction activities.
9. Can Zoho Expense help enforce expense policies?
Yes, Zoho Expense helps ensure compliance with company expense policies by providing configurable rules and workflows for approval processes. Administrators can set spending limits, define approval hierarchies, and enforce expense policies.
