Expense claims in Xero accounting software
This video shows you how to use Xero accounting software to manage your expense claims online.Video transcript:
Expense claims can be a headache for both the employee and the accounts team. With Xero you can manage the whole process online.
Employees can add receipts in Xero or on the go using Xero Touch
. The claim can then be approved or even have individual items from it declined. In Xero Touch, on the 'Expenses' screen, simply press 'Plus' and take a photo of the printed receipt. You can fill in the rest of the details now or wait until you’re back at the office. Press 'Add' and this receipt will be included with any other expenses in your current claim.
When you get back to the office you can log in to Xero and put in any other receipts you need to be reimbursed for. Similar to the Touch version, just complete where the receipt is from, the date, a description, the account and tax details, and the price. You can also drag a copy of the printed receipt right into Xero or upload it from the 'Files' icon. From here you can see a list of all the receipts that make up your current claim and their total.
You can drill into each receipt if you need to do any editing. When you are happy that all the details are correct, select the receipts and click Submit for approval. This groups all the current receipts into one expense claim. You could also select and submit one receipt at a time which would form an expense claim for each receipt individually, so it’s really flexible.
Once submitted, this claim will now sit under the 'Awaiting Authorization' tab. Whoever will be approving this claim can view the details of the receipts and approve or decline them individually as applicable. Once approved, the claim will be flagged as waiting payment and when payment is made, this will match automatically to the bank statement in your bank reconciliation.
No more paper, no more missed details, and no long waits for reimbursement. Managing expense claims is a breeze with Xero.