Overview

Factorial Expense Management Software is a tool designed to simplify and automate the expense reporting process. It allows businesses to track, approve, and reimburse employee expenses with ease. The platform supports both manual and automatic expense submission, enabling employees to upload receipts, categorize expenses, and submit them for approval seamlessly. This tool also integrates with the Factorial platform to offer a centralized solution for managing employee expenses in real-time, ensuring compliance and improving financial control across the organization.

Features and Capabilities

• Automated Expense Reporting: Automatically tracks expenses charged to Factorial Cards and uploads them for approval.
• Manual Expense Submission: Allows employees to manually add expenses, including mileage and regular expenses.
• Smart Document Scanning (OCR): Scans receipts using OCR to automatically extract data, reducing manual entry.
• Multi-currency Support: Handles expenses in various currencies and provides automatic exchange rate conversion.
• Expense Approval Workflow: Submissions are sent for approval, with the ability to track the status of each expense.
• Expense Categories: Customizable categories for different types of expenses, streamlining reporting.
• Integration with Accounting Systems: Syncs with accounting tools like QuickBooks and other third-party integrations.
• Mobile Accessibility: Manage and submit expenses on the go using the Factorial mobile app.
• VAT Management: Facilitates VAT reporting and manages VAT for different regions.
• Receipts Management: Uploads and stores receipt images for compliance and auditing purposes.
• Audit Trail: Maintains a full audit trail of all submitted and approved expenses for transparency.