Managing and effectively maintaining the expenses of staff is a huge challenge for many firms. The prompt receipt of correct expense reports is critical to your company’s performance.
If you’re using Microsoft Dynamics 365, there’s a reimagined Expenditure Management component in Finance and Operations that makes expense reporting easier. In this blog article, we’ll look at the feature management workspace in Dynamics 365, as well as how organizations and our customers use it.
What is expense management in dynamics 365?
Businesses may use Expense Management in Dynamics 365 to establish integrated workflows that can record payment information, import credit card transactions, and manage company spending by personnel. You can also create your expense policies and automate the repayment of travel expenses using Expense Management. Rather than building and supporting a third-party solution, Dynamics includes this capability, which keeps everything under one product line. If you already use the Dynamics 365 product line, Microsoft dynamics expenses functionality might be right for you!
Microsoft reimagined its Dynamics 365 cost reporting capabilities in 2019 to simplify and speed expenditure entry. Users can see all of their spending, reports, and receipts in one place thanks to the reimagined expense reporting’s clean and modern user interface.
- Employees can create and submit new reports as well as edit an existing report
- Scan or take a picture of a receipt and attach it to your report
- Create workflows for approvals
- Configurable to your organization
- Mobile device friendly
- Included in D365
Users can submit reimbursable charges directly through Dynamics365 once it has been installed. Users create expense reports and attach receipts to them in either D365 or the D365 Expense Management mobile app. Following submission, the expense report is routed through a workflow to the relevant approver.
Planning & Configuring Your Expense Management: HOW we fit
Plan expense management is inextricably linked to your company’s financial management. The majority of your configurations are determined by the financial and organizational decisions you’ve made. When it comes to designing your Expenditure Management, there are a lot of things to think about, from per diems to payment methods to expense categories. Microsoft gives you the flexibility to fully customize these fields for your reports.
Admins can also utilize Expenditure Management to set up a workflow process for reviewing and approving travel and expense reports. Consistent approval processes, status visibility, and a consolidated worklist for employees to monitor tasks and approvals allocated to them are all advantages of having a simplified workflow inside your firm.
We assist organizations to understand what is expense management d365 and configure their Expense Management inside of Dynamics 365 here at DHRP. We collaborate with you to set up and design your Expenditure Management module, as well as train your workers on how to submit and approve expense reports. Please don’t hesitate to contact us if you’d want to learn more about the Expense Management functionality in Dynamics 365. Our team is full of software engineers, architects, and consultants who are eager to help your company succeed through technology.
