Outlay

Outlays, or out-of-pocket expenses, are a classic form of expense category in companies. An outlay occur when you’re paying for something out of your own pocket, that you’ll later get refunded. Companies often have a process for managing outlays– either manually or automatically via an app.

Outlays in Acubiz

Manage your outlays digitally and efficiently from your phone.

  • 1 Register the outlay by taking a picture of the receipt.
  • 2 Fill in a few details – cost type and optionally a comment. Amount, country and currency are automatically extracted from the receipt through OCR technology.
  • 3 Complete the registration and sent it for approval by choosing “Cash” and “Submit”.
  • 4 The approver verify the outlay and can either approve or reject it – either through Acubiz’ mobile or web application.
  • 5 The finance department receives the outlay digitally and prepare it for accounting in the web application.
  • 6 Bookkeeping and reimbursement of the outlay takes place automatically.

Benefits by digital expense management

Benefits for the employee

Employee

The employee can get rid of the receipt immediately after the outlay has been made. Once the registration is made in Acubiz, the receipt can be thrown away and the employee can return to her/his job knowing that a reimbursement is on its way.

Benefits for approver and management

Approver

The approver experience a flexible and mobile approver flow. Approve or reject single transactions or travel expense reports on the go. Get an overview of unprocessed expenses through a simple overview in the app. No more huge piles of receipts waiting for approval.

Benefits for Finance

Finance

The finance department receives the outlays on an ongoing basis since the employee doesn’t collect them in piles. The outlay are already entered into the accounts and the finance department therefore often just need to verify the outlay and make it ready for bookkeeping.

Manage outlays on the go

Register and manage outlays on the mobile with Acubiz – it makes the process much more flexible and efficient for the entire company. The outlay can be registered and managed immediately when the employee is on the go – for example at a customer meeting, sales meeting, conference or the like. Acubiz can be used for all kinds of outlays, such as buying breakfast for the department, food and drinks, office supplies, parking, taxi etc.

It is easy to register outlays in Acubiz. Therefore, employees don’t collect outlays in piles for registration at the end of each month, where, by the way, most finance departments usually are busiest. The fact that outlays are quickly digitized, registered and passed on in the process, brings great benefits to the finance department which will obtain a greater overview and a more easy and effective way to control costs. All stages of the expense management processes becomes easier and all of the company’s various expense policies and deadlines are met.

Read more about outlays on Acupedia

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