Tracking expenses is an essential task for any organization, for one always needs to make sure where and when the resources are going and what can be added or subtracted to get the maximum output. This responsibility usually ends up lying with the manager where he or she has to effectively and efficiently run the business while simultaneously utilizing all the resources for a more significant profit.
All over the connected world, we see multiple softwares help the managers and supervisors achieve tasks such as tracking time spent on projects and the employee’s performance. But there are very few that assist in the management of money at an organization that conclusively point out discrepancies in the process.
However, Livetec’s TimeLive software comes with an expense tracking tool that is extremely easy to use. Keep in mind this software doesn’t cut down the expenses at an organization but points directly at the money spent, mostly helping you come to solutions that can increase the work productivity at your team.
There are many benefits when it comes to choosing TimeLive as your preferred time tracking software with the feature of expense tracking being one of those bonuses. As it will not only take off the majority of the workload off of the back of a manager but help you restrain the unnecessary costs that incur.
One of the ways the expense tracking feature of TimeLive takes off workload off of your back is by offering customization. The software lets you put in taxation details and policies according to the place and region, as well as the currency that is applicable. Offering multiple significant currencies around the world, the conversation to and from them is all automated, saving you the hassle of converting them each time.
With the option of Expense Entry View, the software gives you a detailed and systematic outlook as to where the money is going for each project. You can accordingly adjust the expenses, see where the most cash is going, the view gives the manager a thorough breakdown of all the costs in a project.
The software has custom approval paths that are relative to the security within and outside the organization. Therefore, only those people can access, view, review and edit the expense sheets with the permission to the access the leaves to every project.
To make things furthermore accessible for managers, and continuously keep them up to date about the expenses on a project the software lets you set up email notifications and reminders. These reminders are reasonably easy to set up and go to the assigned person in charge reminding them who needs to be paid for a task and when.
The beauty of this software is that it doesn’t require any extra effort for all the process is automated, and the expense tracking feature is something that you instantly get after the installation of the software on to your system.