¶ Creating and Managing Expenses in SAP Concur
In today’s fast-paced business environment, managing employee expenses efficiently is crucial to maintaining financial control and ensuring compliance with company policies. SAP Concur is a leading cloud-based solution that streamlines the expense management process by automating expense reporting, approvals, and reimbursements. This article will guide you through the fundamentals of creating and managing expenses in SAP Concur, helping organizations maximize efficiency and accuracy in their expense processes.
SAP Concur is a comprehensive travel, expense, and invoice management system that integrates with various financial and ERP systems. It simplifies the way businesses capture, manage, and report expenses, providing transparency and control over corporate spending.
To begin, users log in to their SAP Concur account and navigate to the Expense tab, where they can create new expense reports or manage existing ones.
- Click on Create New Report.
- Enter required details such as Report Name, Business Purpose, Trip Type, and Date Range.
- Save the report to start adding individual expenses.
- Select New Expense within the report.
- Choose the Expense Type (e.g., airfare, lodging, meals, mileage).
- Enter expense details: amount, date, currency, vendor, and description.
- Attach receipts by uploading images or PDFs directly from the device or via email.
- Use the ExpenseIt mobile app feature to capture and auto-create expenses by scanning receipts.
SAP Concur can import corporate credit card transactions automatically:
- Imported transactions are matched with existing expenses or can be added as new.
- Users verify and categorize transactions before submitting.
¶ Editing and Reviewing Expenses
- Users can edit expense entries for accuracy before submission.
- Duplicate or erroneous expenses can be deleted.
- Expense policies configured by the company automatically flag non-compliant items for review.
- After verifying all expenses, users submit reports for managerial approval.
- Managers receive notifications to review and approve or reject reports.
- Reports can be returned to employees for corrections.
- The system routes reports through predefined approval chains.
- Approvers can view detailed expense information, receipts, and policy violations.
- SAP Concur supports multi-level approvals, delegation, and escalations.
¶ Reimbursement and Integration
- Once approved, expense reports integrate with the company’s financial system for reimbursement.
- Employees receive reimbursements through payroll or direct deposit.
- Automation: Reduces manual entry and errors by automating receipt capture and transaction imports.
- Compliance: Enforces corporate policies with automated flagging and approvals.
- Mobile Accessibility: Employees can create and submit expenses on-the-go using mobile apps.
- Integration: Seamlessly integrates with ERP systems such as SAP S/4HANA for financial consolidation.
- Visibility: Real-time dashboards provide finance teams with insight into spending trends.
- Regular Training: Ensure employees understand how to capture and submit expenses properly.
- Clear Policies: Define and communicate clear expense policies to reduce errors and non-compliance.
- Leverage Mobile Tools: Encourage use of mobile apps for faster receipt capture and submission.
- Monitor Reports: Finance teams should regularly review reports and analytics for unusual patterns or policy breaches.
- Keep Receipts Organized: Utilize the attachment features to store receipts digitally, simplifying audits.
Efficiently creating and managing expenses in SAP Concur empowers organizations to maintain better financial control, reduce processing times, and improve employee satisfaction. By leveraging SAP Concur’s robust features, businesses can automate expense management workflows, enforce policy compliance, and gain valuable visibility into corporate spending. Mastering these capabilities is essential for any company aiming to streamline its expense processes and optimize operational efficiency.