It’s December, and there are a ton of last-minute expenses that need to be logged before the year ends. Between employee travel, client events, holiday gatherings, and all the usual costs of business, there’s a lot of information to track — all while many employees are trying to take time off. All the same, you need all that expense information as soon as possible so you can budget l for next year.
Having a complete time and expense reporting system like DATABASICS makes it much easier to gather, manage, and reconcile all those expenses before the new year. You can get all your information into the accounting system faster and with fewer errors.
1. Easy Expense Input
DATABASICS makes it easy for employees to submit time and expense data at any time. With our mobile app, employees can submit information even when they’re away from their main workplace. Everyone gets full functionality from both their phone app and the website with a user-friendly interface. It only takes a minute to add expenses in the app, and then your financial team will immediately have what they need.
With receipts, it’s even easier: our system uses optical character recognition (OCR) to read receipt images and hotel folios. All your employees need to do is quickly check that the information is correct — the system will add all the data in for them.
DATABASICS also makes it easy to look up the information you need for reporting. With our new AI solution, DB, you can use natural language to ask questions like, “What’s the total spend on this project?” Our system will give you the answer you need right away. The DB tool can also help you reconcile credit card transactions.
2. Automated Reminders For Timely Task Completion
If you’ve been using Excel or a paper system to track expenses, you’ve probably spent a lot of time reminding employees to give you their expense information or send in their timesheets. Employees going on vacation before logging everything may have caused your accounting team some frustration. With DATABASICS, you don’t need to worry about that anymore.
DATABASICS makes it easier to get timesheets in by the deadline. You can set up reminder emails that automatically go out when it’s time for an employee to submit information or when something is missing. If they reply to the email, it will be automatically logged inside DATABASICS so all of the relevant information is in one place.
3. Integration With Your Accounting and Payroll Systems
No matter what accounting and payroll system you’re using, DATABASICS can integrate with it. We work with clients who use Sage Intacct, NetSuite, Microsoft Dynamics, QuickBooks, Acumatica, ADP, Workday, APS, and many more. Your team won’t need to waste a lot of time on manual data entry around the holidays — or at any other time of year.
Even if you’re using a system we’ve never seen before, we’ll figure out how to make DATABASICS work with it. Just tell us what the data needs to look like for importing into your system, and we’ll do the rest.
4. Customization to Your Org’s Needs
Not every expense reporting tool will have all the features your team needs to do its most efficient work. With DATABASICS, we can customize your solution to do exactly what you need, from automated rate validation to non-standard methods of tracking expenses.
For instance, let’s say you’re a government contractor. Using DATABASICS, you can set up automatic GSA per diem rates validation and track which expenses are allowable or unallowable. You don’t have to enter the per diem rates yourself — DATABASICS keeps that information up to date for you. We also offer a refined approach to partial days so you can allocate based on hours or specific meal expenses.
Or maybe your org is most concerned with timely payment. DATABASICS lets you automatically send copies of expense reports with invoices to your customers so you can get paid as soon as possible.
5. Assistance With Compliance
Formulating and enforcing company policies, Joint Travel Regulations (JTRs), DCAA or DOL regulations, and other compliance needs are easy in DATABASICS. You can create workflows for approvals, automatically flag or reject expenses that don’t follow the rules, and keep expenses allocated to different projects. It’s easy to set up automatic per diem calculations based on CONUS and OCONUS rates or use a table of your own rates.
There’s a clear and detailed audit trail, too. DATABASICS gives you an uneditable record of all timesheet adjustments, along with all the other expense reporting tools that government contractors need.
Reduce the Expense Reporting Crunch
Expense reporting doesn’t need to be so time-consuming or stressful around the end of the year. With DATABASICS, you can automate time-consuming tasks, get more employees to submit information on time, and easily stay in compliance with both corporate and government regulations.
Schedule a demo to see how DATABASICS can help with your expense needs throughout the year.
