Ensure proper payments to staff and accurate billing to clients with Acumatica time and expense tracking software. Simplify the time and expense entry process with mobile entry and approvals from any device with a browser or the native mobile app – anytime, anywhere.
Time and Expense Management
How Time and Expense Management can work for you
Time and expense management helps businesses monitor labor and material costs by providing tools for employees to track their hours and expenses, automated processes for managers to approve reimbursement requests, and reports to track and control labor costs.
Acumatica Time and Expense software helps you automate time tracking and management and engage a robust approval process for accuracy and control. Time and Expense Management integrates tightly with Projects, Accounts Payable software, and with Accounts Receivable software for proper billing. Bill labor and materials according to customer, type of work being performed, or specific contract.
Key Benefits of Time and Expense Management for your Company
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Expense Claim Processing
Employees submit expense claims using artifical intelligence to scan scan receipts and automatically enter accounting details through phones and tablets. Claims follow a predefined approval process. Acumatica creates a bill in Accounts Payable for reimbursement and a customer invoice for approved, billable items.
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Time Tracking for Customers, Contracts, and Projects
Employee time reports and tracked expenses are automatically assigned for approval. On approval, timecards can generate a customer invoice and update contract status.
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Mobile Time Entry Is Simple and Convenient
Employees and contractors can enter time and expenses on any Apple or Android device using the Acumatica Mobile App. Workflows route completed reports for approvals on a manager’s mobile device.
Intercompany accounting is the process in which transactions between a company’s branches or other entities are reconciled to avoid counting transactions twice, first on the parent company’s books and again on the books of the subsidiary.
Important Features of Time and Expense Management
Time and expense reporting anywhere
Improve accuracy and timeliness of time and expense reporting. Enable easy and convenient reporting anytime, anywhere on any browser or through the app.
Timesheets entry
Link timesheets to specific projects and budgets.
Accurate labor assignment
Acumatica ERP supports labor accounting through the predefined assignment of labor hours to specific projects and tasks within projects.
Approvals
Associate time to a project task with a specified approver and then create a workflow to coordinate the approval process for release to billing. Approved activities are posted to specific customers, cases, contracts, or projects and generate corresponding project transactions or customer invoices.
Audit Trail
The Time and Expenses application provides a complete audit trail of all transactions. Corrections must be made through adjusting entries. The system tracks the ID of the user who entered the transaction or adjustment.
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