Overview of Odoo Expense Management

Author - ComstarISA | Jun 06 2018 09:00

open source expense management

Expense management process is important for any organization since there are many daily activities which occur expenditure and employees pay the charges on behalf of the company. Once the bills are paid by the employees these figures are further reimbursed either on daily, weekly and monthly basis.

Moreover, this software comprises over 30 applications and solutions each with separate monthly fees. The basic pricing model charges the user with a monthly fee (10 Euro) plus the cost of the apps that are used. However, there are apps, for example, accounting and billing, that can be used for free by any number of users without additional charge for zero total monthly cost per month. You can visit its pricing page that provides a calculator so can match users and apps that you need and know how much you need to pay each month or for the whole year if you prefer. Hence, it is used appropriately for expense and reimbursements purposes.

Furthermore, it is also open source expense management software. Managing your employees' daily expenses has never been easier. Whether its travel expenses, office supplies, or any other employee expenditure, access all receipts and expense submissions from your payment dashboard and create, validate, or refuse them with just a click. No need to download specialized software to maintain billing records - everything can be done directly through the app of this software. Employees can easily attach copies of their receipts directly to a cost record to avoid losing them.  As a manager, easily follow cost records across the entire team to keep an eye on prices and ensure they keep on target and within budget.

In addition, Odoo accounting software isn’t simple bookkeeping. It is open-source software for statistics and auditing. It can be customized and modified to fit your specific business needs. As compared to other software, it offers strong accounting with a full chart of accounts, fixed assets management and depreciation, accounts payable and basic reports. It offers 30 different software applications ranging from accounting to CRM to POS and more. With features of a dashboard, invoice, contact management, expense tracking, managing fixed assets, and inventories etc.

Besides, the Expense Tracker application is another solution from the bucket of Open ERP, HR that allows you to manage your employees' daily expenses. It gives you access to your employees’ fee notes and gives you the right to complete and validate or refuse the notes. After validation, it creates an invoice for the employee. The employee can encode their own expenses and the validation flow puts it automatically in the accounting after validation by managers.

In a nutshell, Odoo expenses management is quite amazing. With its powerful tracking system, it can configure and sort out its expenses, revenues, reimbursements, employee expenses, prepaid expenses etc. This helps to manage all the organizational and supplier expenses on the daily or monthly basis and customize the workflow as per requirement.

Popular Posts
Latest Video's