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Transcript of Expense claims
Product Features and Benefits Expense Claims ModuleThe economic costs that a business incurs through its operations to earn revenue is known as Expense Claims
It is money spent for business/official purposes and promotional activities that should be paid back to the employee post the expense is incurred
Usually the amount is paid back by the company, based on the actual bills
What is Expense Claim
Reimbursement claims are part of CTC
Claims can be made monthly, quarterly, half yearly and annually based on a companys policy.
Reimbursement claims are paid for personal claims.
Reimbursement claims are withhold in payroll and are paid only once the bills are submitted.
Ex: Medical Allowance, LTA
Expense claims are paid when the expense is incurred
Claims can be made only when an expense is made
Expense claims are paid for business/ official purpose and promotional activities.
Expense claims are approved only after submission of bills and based on the actual expenses.
Ex: Air fare, Accommodation, Food bills
Reimbursement ClaimsExpense Claims
Difference Between Expense and Reimbursement Travel expense (Air fare/ train fare / bus fare) Accommodation ( Hotels, Guest house) Food (Breakfast /Lunch /Dinner) Cab/ Auto hire Local conveyance Communication
Types of Expenses4
Process of Expense Claim
Adding Claim ItemsAll options related to claims are available under Employee > Claims Claim categories can be created under Claim Items
Claim templates can be configured Workflows, entitlements and applicability can be definedThe claim can be associated with a project or advance paymentClaim Templates
Claim can be based on Quantity , Amount or ForexClaim Templates ItemsConfigure multiple expense heads, define limits and rules for claiming expensesClaims are normally processed in batches . This feature helps in creating the batches for processing Claims
Trip based expense claim or Advanced payments appears in group batchClaim BatchCreate batch for processing claims
This helps in deciding the workflow
Select the claim template and add the review workflowClaim Reviewer
The employee has the option to review and track claimsEmployee Login
Employee LoginOn the employee portal, employee can add new claims or withdraw previous claimswww.greytip.com @greytip /greytip
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