Xero Bank Reconciliation Solution
Our Xero bank reconciliation solution helps small businesses easily manage staff expense reimbursements and capture receipts. This expense claim solution simplifies and automates the payment process
The Client Company
Our client was a bush regeneration, environmental consulting and landscaping company that specializes in significant construction projects in Australia. It works with land managers to achieve the best environmental outcomes, whilst recognizing social and economic aspects. The client holds major contracts with local councils and Sydney Water throughout Sydney and the Blue Mountains.
Blue Tongue is a unique innovative Managed Up-Skilling company, making it a market leader in providing bespoke specialized maintenance workforce solutions to industry clients in mining, rail, and oil & gas.
What Were the Challenges?
Let’s face it – everyone dreads tedious, time-consuming expense spreadsheets. Moreover, can you track and verify all the ways your employees spend every day?
Likewise, this company was going through a widely diverse set of environmental projects, hence hiring lots of causal workers. These staff have to purchase tools and instruments to accomplish their daily job.
The company had maintained manual accounting practices to manage employees’ expenses. Their expense management system was based on the workers sending out their receipts via email, WhatsApp, or any messenger apps to the company.
The manual expense claim would often be such a time-consuming process for staff. Once received, the accounts payable team had to check the claims and ensure that the expenses were all correctly allocated, then entered the expense category totals for each claim into their financial system.
Consequently, working with this manual process would bring its own challenges.
Firstly, the employee reimbursement cycle time was too long considering the approval procedure from the very beginning, to double check the claims and make sure they were managed accurately.
Secondly, the progression was so difficult to be tracked.
Thirdly, the payment method was also excruciating; once the payment was completed, the company had to inform the workers via email after the registration process in their financial system.
What Solutions Did We Provide for Blue Tongue?
365 Digital Consulting made a Microsoft SharePoint list by PowerApps, registering all the required data in the Expense Claim App, like the user’s invoice/receipt, the reimbursement amount, and all the necessary details. Using Microsoft PowerApps, 365 Digital Consulting enabled users to save the data and the attachments in SharePoint, while users only interact with the PowerApps interface.
Afterward, the financial manager could check them out and review all the data and confirm their accuracy. Since the data is prepared manually by the worker, the accuracy is usually approved by the financial department.
Till now it appears to be simply an Expense Claim app. However, 365 Digital Consulting made it very specific by Xero API Integration solution, integrating the Expense Claim App with the company accounting platform of Xero.
So, once the expense is verified by the financial manager, the reimbursement is paid automatically. Therefore the reconciliation procedure is also done inevitably, avoiding the extra manual work done by the Finance department.
What Were the Final Results?
By the Xero bank reconciliation solution, 365 Digital Consulting helped the client to easily manage spending expenses, capture receipts, process expense claims. As a result, they were able to make better business decisions based on the timely and accurate data, therefore their productivity and profitability were significantly improved with Expense Claim.
- Trackable expense claim: by using Microsoft 365 consulting, managing the expenses were made easier via this mobile app. Employees can capture transaction data, snap a photo of receipts, and submit expenses while managers can quickly review and approve expenses, all in one go.
- Preventing the re-submission of old receipts and finding them conveniently
- Avoid sending extra emails and losing tracks of them
- Having a through, precise and safe data storage for the company
- Achieving better visibility for the managers with systems integration; 365 Digital Consulting helped the company to improve reporting and get a complete picture of their spending by Xero API Integration solution, integrating the Expense solution with their existing finance and accounting systems.
-Users save the data and the attachments in SharePoint using PowerApps interface
-The financial manager checks the attachments and review all the data
-Then financial manager confirms their accuracy
-The reimbursement is paid automatically
– Trackable expense claims
– Having a fully searchable and safe data storage
– Preventing the re-submission of old receipts
– Achieving better visibility for the managers with systems integration
– Improved reporting
The manual expense claim process is so time-consuming since the financial managers have to check all the claims and then enter all the expense totals into financial system