Xero recently announced the launch of their new Xero Expenses, a feature now available to Standard & Premium Business Edition subscriptions.
It allows employees to capture receipts & submit claims for their work expenses from their mobile device. Xero then uses a third-party to convert the receipt into text, so it can be easily reviewed, approved & paid by a user with the required user role.
Here’s how it works:
- Each user in your organisation can add receipts for their own personal spending. They can’t enter a receipt on behalf of someone else. Once all receipts have been added in Xero, a claim can be submitted for approval.
- The claim is then available in Xero for review. You can approve or decline the full expense claim, or review each receipt individually.
- Once approved, a claim must be authorised for payment. It’s given a reporting date and payment date. It can then be fully or partially paid.
- Expense claims can be edited, deleted, or voided depending on the status of the claim.
Expense Claims may only be submitted in your organisation’s default currency even if you have multi-currency as part of your pricing plan.
Xero Expenses costs $5 for 1 user/month + $5 for each additional active user/month. More information on their pricing plans are here.
Just a note that if you are currently using the classic Expense Claims, Xero is going to let you to continue to use this feature for the foreseeable future, without additional charges.
For a slightly more detailed insight into Xero Expenses head over to Xero Central to read their recent article.
If you would like to know more about Expenses or would like this activated in your Xero subscription today, please contact your HTA Advisory.