Salesforce Expenses Powerful Guide

The Salesforce Expenses app helps your company manage its expenses so you can make smarter decisions. In this guide, we'll show employees how to submit and track expense reports, managers how to approve employee expenses for reimbursement, and accountants how to record accounting journal entries for approved expenses and reconcile them with company card transactions

Salesforce Expenses Powerful Guide
Salesforce Expenses Guide

For Employees Salesforce Expenses Guide

You can use the Employee Expense Management feature to track and manage expenses. Here's how it works:

  • Employees can record expenses from their mobile devices, desktops, or laptops by taking photos of receipts and uploading them to Salesforce. They can also manually enter information about their purchases. If you want your employees to submit receipts via email instead of directly into Salesforce, select this option in Settings > Company Profile > Edit Settings > General tab > Allow expense management integration with external applications (under Email Receipts).
  • A manager or approver needs permission in order to approve an expense report submitted by an employee. This way, you have more control over who approves what transactions are being processed through your organization's Finance Cloud account.
  • Once an approved transaction is created in Financials Cloud, the approval status will be updated automatically on all related records such as sales orders and invoices.

Employees submit expense reports for travel, entertainment, and other business-related expenses.

At this point, you’re probably wondering what happens when an expense is approved. The answer: a lot!

First, Salesforce Expenses sends an email to the employee with a copy of the receipt attached. This helps your employees keep track of their receipts and make sure everything is accounted for properly. Once a month (or more), your sales team can view all of their expenses in one place on the Salesforce Expenses home page or on their personal dashboards. From there, they can download reports that show how much they spent on different types of expenses over time—for example, how much money was spent on travel each quarter or how many expenditures were made at specific restaurants around town.

If an expense has been rejected by management—or if it fails automated validation rules set up in your company's policy settings—it goes back into a pending status until someone approves it again or makes corrections to fix any issues with its submission date or amount due date fields being incorrect information

Managers approve expense reports and track the status of expenses.

For each employee, managers can view pending and approved expense reports. To approve an expense report:

  • Open the Expenses tab in Salesforce
  • Select the [Expense Reports] folder from your navigation bar (or click on All Reports)
  • On your Home page, click on [Pending Approval] to open a list of pending expenses (if you don't see this option, you'll need to enable it by going to Setup > Company Profile > Manage Display Options > Display Pending Approvals). Each employee is represented by a tile in this list that shows their email address, photo, and latest available activity date. Select one or more tiles by clicking checkmarks next to them; then click Apply Selected Criteria or Apply All Criteria at the bottom right corner of the window. When done selecting employees from this list viewable under [Pending Approval], select [Approve] in the left-side menu bar above the blue tabs at the top left corner of the screen (you may have noticed this option earlier while searching for pending approvals). Then choose which approver should review each employee's expenses before approving them (for example "Manager" could be set up with access level "Reviewer") and hit Save Changes when ready!
Managers can approve or reject expense reports, and track the status of expenses.
  • Approve expense reports

For Accountants

Accountants are responsible for reconciling accounts to ensure they are accurate. Reconciliation is the process of comparing two sets of records to ensure their agreement. It’s a critical step in the accounting process and accountants use Salesforce Expenses (formerly eConnect) to record accounting transactions.

Reconciliation involves:
  • Comparing financial data on your general ledger with information from another source, such as a subsidiary or business unit
  • Eliminating errors or differences between the two sources; if there are differences between the company's books and bank statements, adjustments must be made manually

Accountants enter and record accounting transactions, create financial salesforce expense reports, and ensure the accuracy of financial data.

Salesforce Expenses Reports
Salesforce Expenses Reports

Accountants enter and record accounting transactions, create financial reports, and ensure the accuracy of financial data. Accountants must reconcile accounts to ensure they are accurate. For example, let’s say you have a bank account with $100 in it. You make a deposit of $20 from your paycheck, so now there is $120 in the account. But then you pay a bill for $40 using that same bank account, which leaves only $80 in it—not enough to cover all future expenses! To avoid this problem (and others like it), accountants must reconcile accounts regularly to ensure they're correctly balanced at all times.

Accountants must reconcile accounts to ensure they are accurate. Reconciliation is the process of comparing two sets of records to ensure their agreement. It’s a critical step in the accounting process.

In order for you to ensure your financial statements are accurate, you must reconcile accounts. Reconciliation is the process of comparing two sets of records to ensure their agreement. It’s a critical step in the accounting process.

Accountants must reconcile accounts to ensure they are accurate. Reconciliation is the process of comparing two sets of records to ensure their agreement. It's a critical step in the accounting process.

Managing Expenses at Your Company

In Salesforce, expense reports are a management responsibility. This means that you must approve or reject them yourself, rather than delegating this task to someone else.

Salesforce Expenses is an application that helps employees record expenses, managers approve or reject expenses, and accountants manage reimbursements, record accounting journal entries, and reconcile employee expense data with company card transactions.

Salesforce Expenses is a web-based application. This means that you can use the Salesforce platform to access it from any device with an internet connection. You can also access it on your mobile phone, tablet, or laptop.

The Salesforce platform allows you to access data from anywhere and at any time, which makes it unique among other salesforce expense management systems. Since there are no additional costs associated with using this system - unlike some other applications that charge a fee per transaction - users do not have to worry about being charged extra fees for using their service!

This guide covers all aspects of Salesforce Expenses.

This guide covers all aspects of Salesforce Expenses, from what it is to how to get started with it.

Salesforce Expense is a feature that allows you to track the expenses associated with your company's business transactions. You can use this information to understand your profit margins and spendings across departments or regions, as well as for accounting purposes. By setting up business rules for what qualifies as an expense (and what does not), you can maintain accurate records without having to manually enter each transaction every time one occurs.

Conclusion

We hope this guide has helped you understand more about Salesforce Expenses and how it can help you save time and money. If you’re still unsure, we recommend taking our free trial, which will allow you to experience the power of Salesforce Expenses first-hand. Don't forget that there are many other features available in our full version of Salesforce Expenses including expense reporting and reimbursement capabilities plus an easy way to see all your expenses in one place.

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