At the end of each month, you find yourself going through all the expenses that were incurred in your organization. As it is, you missed some expenses last month because there was just so much to go through, and categorizing them was pure headache- Marketing expense for banners here, sales visit there, retreat lunch by HR… This month, you are mentally dreading it.
This doesn't have to be you this month and every month going forward. You can do away with the manual and confusing expense management “system” that leads to a nightmare come reconciliation time. You can do away with hours spent poring over different receipts, bank transfer screenshots, invoices, and so on.
With Duplo, you can approach expense management with less anxiety, greater visibility over your team’s spending at any time of the month, and a better sense of organization.
On Duplo, you can easily categorize team expenses like travel, office supplies, meals, and much more. This way, you can easily see and understand your organization’s spending patterns.
It also allows you to associate specific individuals or teams with each expense account. This feature will be really helpful for you if multiple employees incur expenses, as it helps in attributing expenses to the right individuals or departments.
On the dashboard, you can set a budget for each expense category or account. For example, you can allocate a monthly budget to different teams for their expenses or according to different activities that happen every month like team bonding, utilities, digital advertising, and so on.
Every expense transaction, whether it's an invoice payment or reimbursement request, is recorded in the system. This record includes details such as date, payee, amount, and purpose.
Being able to view the transaction history for each expense account allows you to trace the flow of funds and verify all financial activities.
You don’t have to rely on manual and confusing spend management systems that slow you down anymore. Now, you can spend less valuable time going through endless transaction records. Try out Duplo’s expense management software to streamline and gain visibility over your organization’s financial operations, starting today. Get an in-depth view of how it works here.
In this guide, we'll share key strategies to ensure the financial wellness of your organization as we move into a new year.
Here are 3 distinct ways you can use virtual accounts from the Duplo dashboard to revolutionize your approach to finance:
Discover what Duplo can do for your business.
Get ready to improve your payment processes.