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
You can use the Employee Expense Management feature to track and manage expenses. Here's how it works:
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
For each employee, managers can view pending and approved expense reports. To approve an expense report:
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.
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.
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.
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, 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.
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.