Glossary

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

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. Managers leverage this feature 

Cloud-Based Expense Management: A system hosted in the cloud, accessible from anywhere with an internet connection, offering scalability and flexibility. Anything you do on the web or mobile app is synchronized and changes on web will be present on the mobile and vice versa.  

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

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. 

Currency Conversion: The feature that automatically converts expenses in foreign currencies to the organization's base currency for reporting and reimbursement purposes. If submitters pay for an expense, the ExpensePoint™ currency converter can convert the currency according to XE.com rates. For credit card feeds, the transactions made in other currencies will be converted to the account currency according to their rates and this information received through the feeds would match your statement. 

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

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

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

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

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

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

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

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

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. 

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

Mobile Expense Capture OCR: The ExpensePoint™ Optical Character Recognition technology is based on Machine Learning models used in the mobile app to automatically extract data from receipt images. 

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

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

Permission Set:  A Permission Set is 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. 

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

Recurring Expenses: Expenses that are 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 they have incurred on behalf of the organization. 

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

Tax Compliance: Ensuring that 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 vendor is a business or individual that supplies goods or services to another entity. 

Transaction Template: A transaction template is a preconfigured set of parameters and data fields that serve as a blueprint for recording specific types of financial transactions or activities within an organization's financial system. Transaction templates are designed to streamline the data entry process by providing a consistent structure anpaymend predefined details for transactions that occur frequently. These templates can include information such as account codes, transaction descriptions, amounts, and other relevant data. Users can utilize transaction templates to efficiently and accurately record financial activities, reducing the need for manual data entry and minimizing errors in the process. 

SIC Mapping: SIC Mapping, or Standard Industrial Classification Mapping, is a process of linking or associating specific business entities or financial transactions with their corresponding Standard Industrial Classification (SIC) codes. SIC codes are a standardized system used to classify and categorize businesses and industries based on their primary economic activities. SIC Mapping involves matching or assigning the appropriate SIC codes to businesses or transactions, allowing for standardized reporting, analysis, and industry classification. 

Billing Sources:  The Billable Sources are the options you set for invoicing customers and tracking revenue, ensuring that the right customer is billed for the appropriate expenses. 

Payment Type: Payment Types refer to the various methods of payment for Expenses based on which the payment settlement can be done.  

SFTP: SFTP stands for "Secure File Transfer Protocol." It is a network protocol used to securely transfer files and data over a network. SFTP is a secure and encrypted version of the standard File Transfer Protocol (FTP) and is commonly employed for data transfer between a client and a server, ensuring the confidentiality and integrity of the data being exchanged. 

User Group: A user group refers to a group of individual users within the ExpensePoint™ system organized based on shared characteristics, roles, or access permissions. User groups serve various purposes and are commonly used to manage and control access, permissions, and privileges. 

Permissions:  Permissions are the rules that determine what actions or operations users are allowed to perform the application. Permissions are an essential aspect of access control and security, serving to protect data and the systems from unauthorized or unintended access, modification, or deletion. 

User Role: A user role is a predefined set of permissions and access rights that determine what actions a user can perform within the application. It simplifies access control by grouping users with similar responsibilities and access needs into distinct categories or roles, each with its own permissions.  

User Default: User Defaults assist the user in accurate Expenses allocation. User defaults are predefined configurations or inputs that are applied to a user's account while working in ExpensePoint™, enabling a consistent and efficient experience by automatically setting certain parameters for that user and allocation of expenses. These defaults help users by reducing the need to configure settings manually each time they interact with a system or application, as well as reducing access to unnecessary information.  

GL Code: A GL code is a short alphanumeric or numeric identifier used to categorize and track financial transactions within an accounting system, making it easier to organize and report on financial data. 

Condition: A condition is a specific rule or criteria that determines when a particular action should be taken within a system or process,  used to automate workflow. 

Hosted Documents: Hosted documents refer to digital files or content that are stored and made accessible on a remote server or hosting service. Instead of being stored locally on a user's device, these documents are hosted on servers, allowing users to access, share, and collaborate on the content from different locations and devices via the internet. 

GL Segment: GL segments are distinct components or categories within a General Ledger (GL) account code that help organizations further categorize and track financial transactions for reporting and analysis purposes. 

GL Rule: A GL rule is a predefined set of instructions used to automate the process of categorizing and recording financial transactions within an accounting system. These rules specify how transactions should be mapped to specific GL accounts, making the accounting process more efficient and accurate. 

Output File: An output file contains data generated or produced as a result of a specific process by a software application or system. This file represents the final or resulting data that has been processed, manipulated, or transformed in some way. These files are often created to store and preserve the outcome of a system for further analysis, sharing, or use in subsequent processes. 

Batch: A batch refers to a group expense that are processed or executed together as a single unit. Batching is used to streamline and optimize operations by handling multiple items simultaneously. It helps improve efficiency and reduces the time and resources required to complete tasks. 

Xporter Template: The Xporter template is a predefined or customizable format or set of rules used to export data from ExpensePoint™ to another or for your organization’s custom reporting. It specifies how data should be structured and organized for smooth transfer or integration between different platforms or software. Exporter templates help ensure data consistency and accuracy during the export process, making it easier to work with data in various applications or systems.