Extend Advance to Employees to Support Their Work Expenses

With the module, you can easily set budgets for each department or team based on historical data or projected requirements. The budget management aspect helps you keep track of the funds that have been spent until now and the amount available for further expenses. The budget management features let you optimize business spend and ensure that your team does not exceed budgeted amounts and can access funds when needed.

In many companies, the overall department has a budget in place for the whole department and not for the smaller teams within. With budget control management, the allocation of funds to each team can be managed at a granular level, allowing you to specify not only the amount available but also the type of expense for which it can be used. In case, during a specific period, an allocated budget remains unused, then you can use it for other purposes or reduce the budget allocation for the next time period.

The cash flow of any business depends on the timing of receivables and payables. This module offers a dashboard that provides an overview of the current expenses and shows you upcoming commitments, helping you match the timing of incoming funds with the outgoings, making cash flow management easy.

A simple way to optimize business cash flow is by ensuring that your business leverages all aspects of the Xpenz module, which lets you allocate funds and derive analytics. Your business cash flow management requires you to manage accounts, not only payables, accounts receivables, and budgets but also aspects like audit trails and more.