Travel Expense Software Key Features

Travel Expense Software varies in quality and sophistication, and you may need many features, or just the basics. Be sure to thoroughly consider what your company's needs are to ensure you get the system that is best for your situation.

Not all systems will allow you to choose how to set up your service (Overriding expenses is potentially allowed vs. Hard Code). Some only give you one method of use, and it usually depends on the quality of the system you are evaluating.

In addition, pay attention to the connectivity to your accounting or payroll system. About half the time expenses are paid out of payroll, half the time from Accounts Payable. Make sure that the expense software system can connect with your accounting system or payroll system. Also, the better vendors actually connect their system to your A/P or payroll and even create an export to your General Ledger as part of the Implementation. It should flow automatically to the other system, not require any extra keying in, where your company can account for the value and cut the expense reimbursement checks for your employees.

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Additional Expense Report Automation Features Available:

Capturing Receipt Data

Look for a variety of ways to transmit data, including:

Expense Tracking Report Tools

Look for the ability to track expenses by category, by employee, by date, or with customizable categories. With this feature you will have a clear picture of who is spending what, which department routinely goes over budget, or which manager overrides the pre-set limits on a regular basis.

Credit Card Integration

With this feature, you have the abilitiy to import credit card transactions from any on-line statement while keeping sensitive credit card information to yourself.

Travel Expense Software Analytics

By reviewing and analyzing your expense data in detail, you can track average costs for hotels and airfare, calculate average expense amounts per employee, and report your total expenses by month or quarter.

Currency Conversion

The ability to automatically convert expenses for world travelers based on the exact date of each expense.

Policy Enforcement

Be able to communicate your company's expense policy, and integrate it with your approval process. Be sure Items in excess of the company policy are automatically flagged for employee and approvers to see.

Expense Report Automation Security

Be sure the travel expense software you choose comes with up-to-date internet security features to protect your information.