AX Expense Management
Use Microsoft Dynamics AX Expense management to create an integrated workflow where you can store payment method information, import credit card transactions, and track the money that employees are spending when they incur expenses for your business. You can also define the expense policies and automate the reimbursement of travel expenses.
Planning Expense Management
This topic describes the considerations and the decisions that you must make during the planning process before you configure the Expense management in Microsoft Dynamics AX. In Dynamics AX Expense management, you can store information about payment methods, travel requisitions, expense reports, policies, and soon.
Microsoft Dynamics AX provides a powerful capability for employees to manage travel and other business expenses. This includes the following capability:
The self-service capability for employees to enter expenses on the web and through mobile devices.
Employee Expenses can be entered through the web portal. Aggregate Expenses can be itemized. For example, the hotel total of the USD 200 is itemized to break up between room rate, food, and other miscellaneous expenses. Microsoft Dynamics AX supports the multi-currency expenses as can be seen here, for example, the expenses are in US Dollars and Euros.
The Ability to have one or more approvers to approve the entered expenses. Approvers may approve, reject or delegate approval.
Visual configuration and the drag and drop tool for creating workflows for approvals. These workflows may be conditional (e.g. Trigger only if amount is over $10), require multiple approvers (e.g. One approver if under $25, two approvers if over $25 and less than $100, three approvers if above $100 etc.), have automatic actions (e.g. Escalate to the manager if not approved or rejected in 4 business days).
Documentation and Receipts
Ability to attach the receipts to support an expense entry.
Set business policies and rules e.g. Automatically reject meals above $100 or require itemization of hotel expenses on a per night basis.
Calculate the per diem based on location and number of days
Automatically calculate mileage reimbursement based on miles traveled.
Posting to Financials
Full integration with General Ledger or Accounts Payable. Each employee can have the expenses posted to GL or to AP for payment depending on the employee setup. The Financial posting can be reviewed prior to it posting through as shown in the example below where the expense for the Inc 5000 conference can be seen as posting to the GL account 601504 and can be verified before the final posting is done.
Enter expenses through a mobile device and attach the receipt images captures through a mobile device camera.
In this Article, we have Discussed the Dynamics AX Expense Management and its Features along with there Functionalities.