Freee Corporation announced that it has started offering a “detail tag function” for its cloud-based accounting system ” freee accounting ,” which allows users to assign tags to each expense claim line item. Previously, “freee accounting” only allowed users to assign department, segment, and memo tags to each expense claim application, which was insufficient for companies that wanted to thoroughly manage income and expenditures using tags . In order to manage the budget, users had to separate expense claims by tag, or manually correct tags after approval, which led to issues such as increased labor hours and errors in budget management.
This time, they will offer a new “detail tag function” that allows users to further subdivide a single expense claim application and assign tags to each line item within the application. This means that users can apply for expense claims with appropriate tags assigned to each line item, such as department tags, segment tags, and memo tags, eliminating the need for accounting staff to change tags for lines when registering transactions, and allowing them to classify and manage expenses by tag for each individual expense. For example, if two types of expenses occur in daily work, “expenses to be recorded by the sales department” and “expenses to be recorded by the human resources department,” it was necessary to create two separate applications, “expense application by the sales department” and “expense application by the human resources department,” but it will now be possible to record them separately within one application. Also, when multiple employees across departments are assigned to a project, each applicant could not assign tags, making it difficult to manage and analyze the budget for each project.
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However, the detail tag function will enable complex budget management by assigning segment tags and other tags to the details as project management tags. At the same time, it has become possible to set payment conditions and calculation formulas in advance for daily allowances and gasoline allowances paid separately from basic salary for specified tasks such as business trips. When employees perform expense settlement, they simply select the expense category and enter certain necessary information, and the amount is automatically calculated, reducing the amount of work required to enter expenses.
SOURCE: Yahoo
