Completing the Automated Expense Workflow: Tallie & Bill.com Now Integrate Non-Reimbursable Credit Cards

Non-reimbursable credit card charges have been the Achilles’ heel of the automated expense management workflow. Seamless data integration exists for reimbursable expenses, but manual steps or workarounds were common answers for non-reimbursables. An integrated solution for non-reimbursable credit card charges was one of the biggest requests from our Bill.com clients.

This month, Tallie and Bill.com implemented their first non-reimbursable credit card import integration. From expenses paid out of pocket to charges incurred on the company card, Tallie now has the capability to manage and export non-reimbursable corporate credit card charges into Bill.com, covering every scenario.

Consider this scenario:

Conor, an up and coming sales rep, takes a taxi to a business lunch at Bix and uses his company credit card to pay for his cab ride. After a deal-closing lunch meeting with his biggest lead’s CEO, Conor accidentally uses a second, different corporate card to pay for lunch and snaps a picture of the receipt. During his cab ride home, he realizes he left his wallet at Bix. Fortunately, Conor was carrying enough cash on hand to pay for the taxi out of pocket, and he uses the Tallie app to snap a picture of that cab receipt.

3 days later, Conor sees Tallie has processed all the receipts (displaying merchant, date, amount and expense categories). He also notices Tallie has connected the Bix lunch receipt to the other company credit card charge, automatically. At once, Conor can submit one expense report and he’s done. That expense report, with charges from two separate company cards and a reimbursable expense on it, can be exported in one swoop directly into Bill.com.

Here’s a guide to how non-reimbursable corporate credit card charges can be imported into Bill.com and how the additional features ensure you and your team are successful – even in the situation described above.

First, Tallie can now import non-reimbursable Corporate Credit Card charges into Bill.com and gives you two options.

Importing Corporate Credit Card Charges as One Bill

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With this setting, Tallie will create a bill to your Credit Card vendor with each charge listed on the bill as a line item.

Importing Corporate Credit Card Charges as Separate Bills

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Alternatively, you can have Tallie create separate bills for each credit card charge imported. This feature is especially useful if you want to match each imported bill with line items on a credit card statement.

For more information on how to set these up, see this guide.

Several additional features also included in this release:

  • Marking Imported Bills as Paid 

If this option is selected, each imported bill will be marked as paid to your selected account. If you don’t want to send a payment to your Credit Card company through Bill.com, simply mark this as your preference and Tallie will import these bills as paid.

  • Separating Reimbursable Expenses and Charges from Multiple Cards

If an expense report has reimbursable charges and non-reimbursable charges on it, Tallie will separate those into two bills in Bill.com. Additionally, if one expense report has charges from multiple company cards, Tallie will create separate bills for each, mapped to the correct vendor and account in Bill.com.

  • Importing Negative Amounts as Vendor Credits

If the total of the Corporate Credit Card expenses on a given report is negative, we’ll create a vendor credit. If the total of the report is >$0, the negative line items will import as regular line items.

For further information on how these items look in Tallie, see this guide.

Expense Reports: Uncovering the True Cost to a Business

With software automation revolutionizing business accounting workflows, many accountants believe that automating the expense report process will be cumbersome and expensive. Tallie is here to set the record straight. Let’s break down the facts and falsities revolving around expense report automation in the accounting world:

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Belief: Automated expense report solutions will not save me enough time to make it worth my while.

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Tallie CEO Chris Farrell applied his 15 years of accounting experience to calculate the average time to complete one end-to-end expense report using traditional methods. The result was a whopping 91 minutes. By using an automated expense reporting tool, Chris found that the average time it takes to complete the same expense report is 32 minutes. That translates to a 67% time savings. Broadened to a high level perspective, an average of 40% of transactional accounting time is spent on accounts payable, with almost half dedicated solely to expense reports. That means you can free up over 10% of this time for other tasks.

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Belief: Automated expense report solutions will cost an arm and a leg.

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While a number of expense report options are available on the market, companies will reap the highest value through a product’s ability to integrate seamlessly with their accounting ecosystem. The value of expense report software becomes compromised if it cannot deeply integrate across multiple accounting systems. Tallie has very competitive pricing at $9/user/month. Broken down, that is less than $0.36 per day.

Belief: Things are fine the way they are. I do not have to spend the money to use a tool like this.

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You do not have to use an automated expense report solution. However, according to a recent report by the Aberdeen Group, the average cost of an expense report by traditional methods is $31. Alternatively, the average for an automated expense report was just $15. Again, cost savings exceed 50%. Combine cost savings with a suite of compliance tools (policies, groups, multi-level approval routing), internal control (duplicate identification, project accounting, general ledger mapping), and analytics tools, the decision quickly becomes easy.

To many, the move towards an automated system can seem daunting and expensive. But upon further exploration, it becomes clear that the truth is quite the opposite. Automation has revolutionized productivity for many industries over the years; now it is the accounting industry’s turn. By automating the accounting workflow, companies experience immediate savings in both time and finances. So don’t ignore the facts of a quickly changing industry. Become a part of the change, and explore the powerful benefits of adopting cloud-based software for your business’s accounting workflow.

REFERENCES:

Dwyer, C.J. (February 2010). The State of Travel and Entertainment Expense Management. Retrieved from http://www.aberdeen.com/aberdeen-library/6039/RA-travel-entertainment-expense.aspx

Top 5 Tallie Expense Report Support Questions and Answers

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At Tallie, our Product Expert Team spends their days listening, advising and guiding our clients. And with a 99.9% Apdex score under their belt, they successfully field numerous support questions every day. From exporting issues to implementations, the team tackles a wide variety of topics. Today, our Product Experts are here to share the most frequently asked support questions and the answers that guide our clients toward an ideal resolution.

“What’s the best way to guarantee that submitted expense reports are authorized for reimbursement?”

Create a detailed approval flow by assigning a personal supervisor, project manager or global approver. This detailed flow ensures that expenses incurred are correct and allowed. Additionally, empowering approvers to certify expense reports expeditiously through their email, will help guarantee their cooperation.

“I’ve misplaced two corporate credit card receipts from last month’s business trip. What are my options for keeping track of these charges?”

Automatically download corporate credit card transactions to account for these charges. Use a receipt match feature, which reconciles incoming receipts to downloaded transactions and keeps everything in sync. A central repository for receipts also keeps the necessary documentation on hand for billing or audit purposes.

“The IRS requires receipts for expenses above $75. What is the best way to encourage employee compliance?”

Create custom, specific policies surrounding expense report submission to raise awareness of these requirements. These policies provide alerts to expense submitters and helps them consistently adhere to these regulations.

“What is the advantage of requesting my expense submitters to add a project to their expenses?”

Project classification in expense reports increases the visibility of specific expenses, allowing your team to bill your clients accurately. For employees who frequently travel, racking up both business travel and client related expenses, adding projects to specific transactions directs these expenses to the appropriate client for billing and reimbursement of the employee.

“Why should Reimbursable and Non-Reimbursable transactions be combined on a single report?”

Tallie’s goal is to make expense reports simple, accurate and efficient. A single expense report with both reimbursable and non-reimbursable transactions achieves this goal.

Here’s how it works:

– Add reimbursable and non-reimbursable purchases into the system, organize transactions to align with company policies, and submit for approval.

– Reimbursable entries are classified in the accounting system as a check or bill. Corporate expenses are sent over as credit card charges against the appropriate registers.

Tallie’s expense software solution easily addresses these 2 transaction types when exporting and provides greater efficiency and accuracy throughout the entire expense management process.

 

Do you have a question, comment or concern for our Tallie Product Expert Team? Ask it here and they’ll be happy to help.

Tallie’s 9.14 Expense Management Release News!

Tallie’s 9.14 release features exciting updates that will make the expense management process that much easier. Read up on the greatest highlights in this round of Tallie’s business software updates.

1. A Redesigned Lightbox 

Our Development Team built a flurry of new features to enhance the Purchases page in Tallie. One of the most notable updates includes a redesigned lightbox (see below) for added context and control when navigating the Purchases page.

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In this redesigned lightbox, Tallie users can perform the following functions at the click of an icon:

  • Detach receipts into separate expenses (existing feature)

  • Add receipts onto an expense by clicking the paperclip icon (existing feature)

  • Add multiple receipts by dragging the additions onto an existing receipt image. (new 9.14 feature)

These three updates provide increased ease of control over expense reimbursement, resulting in maximized flexibility for your company’s accounting workflow.

2. Tack on Multiple Receipts

Tallie users can now add multiple receipts – such as those mile long hotel receipts – to the same expense, including the lengthy ones. Simply add additional pictures to the same expense and you’re done.

Developer note: Merging two duplicate purchases with different receipt images will result in both being kept. This ensures that all data is kept and Tallie is not deleting or hiding any receipts that the user may want to keep. Users can manually remove or delete extra receipts if desired.

3. View Multiple Pages of PDFs

Great news – prior to the 9.14 release, users could only view the first page of a PDF receipt. Now, Tallie shows all pages of an uploaded multi-page PDF, adding further control and visibility to your accounting workflow.

4. Added Bill.com Support for Corporate Credit Card Charges

One of the most requested enhancements in Tallie’s 9.14 release is the new settings and functionality for Tallie’s Bill.com integration. Users will now be able to import Non-Reimbursable Credit Card charges into Bill.com. A number of new features were introduced to accomplish this task:

  • “Combine Multiple Charges into one Bill.” If selected, Credit Card charges will export into Bill.com as one bill. When you export an expense report with ten Credit Card charges, you’ll get one bill with each charge as a line item.

  • “Export Each Charge as a Separate Bill”  With this set, each Credit Card charge will appear as a separate bill. In other words, if you export an expense report with ten Credit Card charges, you’ll see ten new bills in Bill.com.

  • “Mark Bills as Paid” Unless otherwise preferred, each bill that’s imported into Bill.com will be imported as “Paid” via the credit card account you assign in Tallie. This will save clients tremendous amounts of time prepping the imported charges for export out to the accounting system.

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These exciting new features uphold Tallie’s commitment to carving the path of what defines a premier expense management product. Pair this commitment with deep integration with QuickBooks, Bill.com, and SmartVault, and the solution is clear. Along with our other industry partners, — RootWorks, Right Networks, and BMRG — Tallie’s business software completes a powerful paperless and highly efficient client accounting ecosystem. We hope you find these updates to be helpful. Enjoy!

Join Tallie for a Free Expense Report Webinar on Building Your Accounting Ecosystem: Thursday 2/6

Join Tallie and its partners, RootWorks, Bill.com, Right Networks, and SmartVault, for a guided tour on integrating the right technologies to achieve ultimate expense report workflow efficiency.

This new educational webinar was designed by RootWorks CEO and CPA, Darren Root, and the profession’s leading cloud application vendors to step you and your bookkeeping staff through implementing a completely paperless, highly efficient client accounting system—the foundation for a true collaborative environment for your business clients. During this 90-minute session, we will identify the core technologies that comprise the ideal system and show you how they work together:

  • Hosted QuickBooks with Right Networks— the heart of the collaborative client  accounting workflow.

  • Tallie— our powerful cloud-based expense report software offers deep integration with QuickBooks, Bill.com, and SmartVault.

  • Bill.com— a leading web-based A/R and A/P application that offers tight integration with the QuickBooks ecosystem.

  • SmartVault— a secure online file sharing and storage solution that supports a highly efficient workflow and seamless integration with QuickBooks and the ecosystem of third party productivity apps.

This event was designed exclusively for firm decision makers (partners) and bookkeepers, and serves as a crucial first step towards building your collaborative client accounting ecosystem.

Building Your Collaborative Client Accounting Ecosystem

February 6, 2014, 2-3:30 pm (EST)

Register Now

[Direct link for you use: https://www2.gotomeeting.com/register/115420578]

Top 10 Big Ideas from AICPA CPA2Biz Roundtable 2014

At last week’s 5th Annual AICPA CPA2Biz Executive Roundtable in New York City, the accounting industry’s top thought leaders – including Tallie CEO Chris Farrell – addressed the challenges accountants face with today’s technologies. Inspiring presentations and panel discussions sparked a lively exchange of ideas over the 2-day summit that were shared in a live tweet stream (#roundtable14).

Today, we’ve rounded up the 10 biggest ideas from the 5th Annual AICPA CPA2Biz Executive Roundtable. From technology trends to company culture, exciting changes are on the horizon for all areas of the accounting industry.

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Which of these ideas has the biggest impact for you?

Download the Top 10 Big Ideas from AICPA CPA2Biz Roundtable 2014 pdf.