The Expense Claims tab tracks out-of-pocket expenses incurred by employees or members that your business will reimburse.
You can record each expense claim with details such as the amount, description, and who paid for the expense.
Once recorded, these claims can be processed for reimbursement, ensuring accurate tracking and proper financial reporting.
To create a new expense claim, click the New Expense Claim button.
Each expense claim entry captures essential information about business expenses paid by individuals who need reimbursement.
The Expense Claims tab displays the following information for each claim:
The date when the expense was incurred by the employee or member.
This date is used for proper accounting period allocation and expense tracking.
A unique reference number for the expense claim.
This reference helps identify and track individual expense claims for processing and reimbursement.
The person or account that paid for the expense on behalf of the business.
This can be an Employee, Capital Account, or Expense Claims Payer, depending on who incurred the expense.
The system will track this amount as payable to the selected payer for reimbursement.
The name of the person or business that received the payment from the payer.
This is typically the vendor, supplier, or service provider who was paid for goods or services.
A brief description of the expense.
Include relevant details about what was purchased or the service that was provided.
The accounts from your Chart of Accounts where this expense is categorized.
Multiple accounts may be shown if the expense was split across different expense categories.
The total amount of the expense claim.
This represents the full amount that needs to be reimbursed to the payer.