A major hurdle that many businesses struggle with is managing and properly maintaining their employees’ expenses. Receiving accurate expense reports in a timely manner is crucial to the success of your business.
If you are using the Microsoft Dynamics 365 product line, there is a re-imagined Expense Management component within Finance and Operations that allows businesses to simplify their expense reporting. In this blog post, we examine the Expense Management feature within Dynamics 365 and how businesses and our customers are using this functionality.
Expense Management Overview:
Expense Management in Dynamics 365 allows businesses to create integrated workflows that can store payment information, import credit card transactions as well as track business expenses by employees. Expense Management also allows you to define your expense policies as well as automate the reimbursement of travel expenses. Rather than implementing and supporting a 3rd party solution, this feature is built into Dynamics, keeping everything under one product line. So, if you are already utilizing the Dynamics 365 product line, this feature may be suited for you!
In 2019, Microsoft re-imagined their expense reporting functionality within Dynamics 365 to simplify and streamline expense entry. The re-imagined expense reporting has a clean and modern user interface where users are able to see all of their expenses, reports, and receipts in one location.
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
Once implemented, users are allowed to submit reimbursable expenses straight through Dynamics365. Users create expense reports and attach the expenses with receipts in either D365 or in the mobile app for D365 Expense Management. Once submitted, the expense report gets set to the appropriate approver through a workflow.
Planning & Configuring Your Expense Management:
Expense Management is tightly integrated with the financial management of your organization. A majority of your configurations are based on the decisions that you’ve made about your organization’s finances and hierarchy. There are many components to consider when configuring your Expense Management from per diems to payment methods to expense categories, Microsoft allows you the options to fully configure these fields for your reports.
Expense Management also allows admins to setup a workflow process that can be used to review and approve travel and expense reports. The benefits of creating a streamlined workflow within your organization are consistent approval processes, status visibility and centralized work list for employees to view tasks and approvals assigned to them.
Here at GraVoc, we work with businesses to help configure their Expense Management inside of Dynamics 365. We work with your team to implement and configure your Expense Management module as well provide training to your employees on how to submit and approve expense reports. If you are looking to explore the Expense Management functionality within Dynamics 365 further, please don’t hesitate to reach out to us! Our team is stacked with software engineers, architects and consultants who are here and ready to help your business succeed through technology!
GraVoc has been a part of the Microsoft Partner Network for over 20 years. We have invested extensively in the training and certification of our staff resulting in five Microsoft competencies including Gold Enterprise Resource Planning, Gold Cloud Productivity, Silver Small and Midmarket Cloud Solutions, Silver Data Analytics and Silver Datacenter. Today, our team holds in excess of 100 Microsoft certifications assuring our customers that we are both current in our knowledge and trained in the core competency requirements of their environment. Our expertise and certifications include Dynamics, Dynamics 365, Office, Office 365, Azure, Microsoft SQL, SharePoint and more!
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