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Time and expense tracking are often coupled together, in the same phrase and also in the same system. TimeSheet Professional provides an easy-to-use expense tracker that is similar to Timesheet’s classic Time Sheet view. You track expenses by providing the same task list. Expenses can be tracked by:
Users also have the opportunity to provide a description and notes if required. Quantities and unit prices may be entered for expenses such as mileage.
TimeSheet Professional’s expense tracking handles VAT by holding default information against each expense category or type, with overrides available for users and/or finance personnel, as appropriate.
TimeSheet Professional can be used to manage reimbursement, project accounting and project billing, job costing and nominal ledger posting, as well as providing the management reporting required and a robust, configurable approvals process.
At its simplest TimeSheet’s Expense Tracking provide reports on expenses to be reimbursed and postings to be made, marking entries when they are posted, when they are billed and when they are paid.
TimeSheet can hold all ledger account information, nominal account codes, project accounting or job costing references, sales and purchase ledger codes and employee references, making it straightforward to provide the output for file-based posting for import into financial systems.
Expenses can also be included in fully automated, database integration with financial systems, providing a still more efficient and effective solution.
Whilst TimeSheet Professional’s expense tracking provides an excellent solution, using it is not a requirement when using TimeSheet’s time recording. Those customers who already have a good standalone expense tracking solution in place will often choose to continue using that, whilst still enjoying all the benefits of TimeSheet Professional’s time tracking.
However, if you are looking for a TimeSheet solution that includes Expense Tracking, you should Contact Us now.