Glossary

Accounting: Typically, senior accounting administrators. They can manage financial transactions, reconcile accounts, and ensure compliance with financial regulations. They have access to specific modules and perform tasks associated with financial accounting and reporting. They have the final approval rights on reports; once they approve, the report closes.

Admins: Typically, managers or finance team members. They enjoy extensive access within the product and can navigate all modules, configure preferences, assign user access, and manage the system and its operations.

API Key: Application Programming Interface key, a unique code used to identify and authenticate a user.

Approval Workflow: A predefined sequence of steps that an expense report must follow for review and approval, often involving multiple stakeholders.

Approvers: Often team leaders or managers. They can do everything a submitter can do, plus they can approve or decline expense reports submitted by others.

Audit Trail: A record of all actions and changes made to an expense report, providing a history of who did what and when.

Authoring or Expense Delegation: The option for employees to delegate expense report creation, editing, submission, and approval (if necessary) responsibilities to colleagues in their absence.

Automated Approval: The process of using predefined rules and thresholds to automatically approve or flag expenses for further review, reducing manual intervention.

Billable Source: Any project, client, or category to which expenses can be tracked and billed separately.

BTA Information: Business Travel Account information, a centralized billing system for travel expenses.

Cash Advance: An allotment of money provided ahead of time to cover upcoming expenses.

Cloud-Based Expense Management: A system hosted in the cloud, accessible from anywhere with an internet connection, offering scalability and flexibility.

Compliance: Ensuring that expenses adhere to company policies, tax regulations, and other relevant laws.

Corporate Credit Card: Credit cards issued to employees to cover business-related expenses

Corporate Credit Card Integration: The ability to link corporate credit card transactions directly to the expense management system, simplifying expense tracking.

Cost Center: A specific department or project within an organization to which expenses are allocated or charged.

CSV Reports: Comma-Separated Values report, a plain-text file format used to store data, where each line represents a record and commas are used to separate fields.

Currency Conversion: A feature that automatically converts expenses in foreign currencies to the organization's base currency for reporting and reimbursement purposes.

Expense Allocation: The process of distributing expenses across different cost centers or projects when multiple departments or activities are involved.

Expense Analytics: Tools and reports that allow organizations to analyze spending patterns, identify cost-saving opportunities, and monitor compliance with expense policies.

Expense Auditor or Accounting User: An individual or team responsible for reviewing and verifying expense reports for accuracy and compliance.

Expense Category: A predefined classification or grouping of expenses, such as travel, meals, office supplies, or entertainment.

Expense Dashboard: A central hub within the system where users can view and manage all their expense-related tasks, including creating new reports, reviewing approvals, and tracking reimbursements.

Expense Management System (EMS): A software or platform designed to streamline and automate the process of recording, tracking, approving, and managing expenses within an organization.

Expense Policy: The guidelines and rules established by an organization governing acceptable expenses, spending limits, and reimbursement procedures.

Expense Policy Violation: Instances where submitted expenses do not comply with the organization's expense policies, leading to rejection or correction.

ExpensePoint Mobile App: A mobile application that allows users to capture expenses, submit reports, and track reimbursement status on their smartphones or tablets.

Expense Receipt Matching: The process of cross-referencing submitted receipts with corresponding expenses to ensure validity.

Expense Reconciliation: The act of balancing and verifying all expenses against the organization's financial records and accounts.

Expense Rejection: The action taken by an approver to deny or reject an expense report due to policy violations, errors, or incomplete information.

Expense Report: A detailed summary of an individual's or team's expenses, including receipts and descriptions, submitted for approval and reimbursement (if applicable).

Expense Report Aging: Monitoring the time it takes for expense reports to move through the approval process to ensure timely reimbursements.

Expense Report Analytics Dashboard: An advanced analytics tool that provides in-depth insights into expense data, facilitating data-driven decision-making.

Expense Report Approvers: Individuals with the authority to review and approve or reject expense reports based on company policies.

Expense Report Currency Exchange Rates: Real-time or predefined rates used to convert foreign currency expenses into the organization's base currency.

Expense Report Data Export API: An Application Programming Interface that enables the integration of expense data with other business systems.

Expense Report Duplication Detection: A feature that identifies and prevents the submission of duplicate expenses within the system.

Expense Report Export: The feature that allows users to export expense data in various formats, such as PDF, Excel, or CSV, for further analysis or sharing.

Expense Report Policy Enforcement: Automatic checks and validations in the system to ensure expense reports adhere to established policies.

Expense Report Status: Indicates the current stage of an expense report in the approval process, such as "Submitted" or "Approved."

Expense Report Submission Attachments: Supporting documents, such as contracts or project approvals, that can be attached to expense reports for context.

Expense Report Submission Comments: The ability for users to provide additional explanations or justifications for specific expenses within their reports.

Expense Report Submission Reminder: Automated notifications or reminders sent to users when their expense reports are approaching the submission deadline.

Expense Thresholds: Specified limits or caps on expenses, often based on categories, job roles, or project budgets, to prevent overspending.

Expense Trends Analysis: Examining historical expense data to identify patterns, anomalies, and potential cost-saving opportunities.

Expense User Training: Training programs or resources provided to employees to help them effectively use the expense management system.

GDPR: General Data Protection Regulation, a European law for protecting personal data.

GL Code/Segment: General Ledger code or segment, a system used to organize and label financial transactions in a business using alphanumeric codes.

Integration: The ability of the expense management system to connect with other financial and accounting software, such as ERP systems or payroll software.

Mileage Tracking: The capability to record and calculate expenses related to business-related travel based on the number of miles driven.

Multi-Currency Support: The system's ability to handle expenses and transactions in various foreign currencies.

OCR Receipt Reader: Optical Character Recognition, technology used in the mobile app, that automatically extracts key details from receipts and other documents, converting them into editable and searchable data, which can be used to auto-populate expense reports.

Per Diem: A fixed daily allowance provided to employees for meals and incidental expenses when traveling, instead of reimbursing actual expenses.

Permission Set: A way to grant customized access to users in a software system.

Receipt Capture: The feature within the system that allows users to upload and attach digital or scanned copies of receipts to their expense reports.

Receipt Scanner: A powerful digital tool that allows you to capture and convert physical paper receipts and documents into digital formats.

Receipt Wallet: A dedicated space to store and organize your digital and paper receipts.

Reconciliation: The process of comparing and aligning financial records to ensure accuracy and consistency.

Recurring Expenses: Expenses incurred on a regular basis, such as monthly subscriptions or utility bills, which can be automated for convenience.

Reimbursement: The process by which an employee is refunded for expenses incurred on behalf of the organization.

SFTP: Secure File Transfer Protocol, a secure, encrypted network protocol used for file access, transfer, and management over a single, secure connection.

SIC: Standard Industry Classification, categorizes businesses and industries based on their primary economic activities.

SOP: Standard Operating Procedure, a document outlining instructions to help users perform complex operations.

Split Expenses: Dividing a single expense into multiple categories or cost centers to ensure accurate allocation of costs.

SSO: Single Sign-On, an authentication method that allows users to access multiple services with one set of credentials.

Submitters: Typically, any employee within the organization. They can upload receipts, create expenses, and submit expense reports for approval. They have limited access to what they can do or change on their profile.

Tax Compliance: Ensuring expenses are recorded and reported in accordance with tax laws and regulations.

User Profile: Individual user accounts within the system, each with its own settings, permissions, and access levels.

Vendor: A business or individual that supplies goods or services to another entity.

Verify Match: The feature that automatically cross-checks and matches your receipts with your recorded expenses to ensure that everything is correct.