Maximize project profitability with Zetadocs Expenses

Visibility of project expenses in Microsoft Dynamics 365 Business Central

Editor’s note: This post was originally published in September 2021 and has been revamped and updated for accuracy and comprehensiveness.

Gaining a clear understanding of project profitability can be challenging and time-consuming, particularly when there is limited visibility into all associated costs.

Getting that visibility and being able to track costs is often tricky too, but can have severe consequences if not achieved. A study by TeamStage shows 55% of project managers cite budget overruns as the main reason for project failure.

Travel and entertainment expenses incurred by employees can substantially increase project costs. When these expenditures are not clearly visible to finance teams and project managers, it can hinder their ability to take timely corrective actions needed to maintain budget control and ensure project profitability.

Accurately attributing employee expenses to specific projects and tasks is crucial for effective cost tracking against project budgets. It also ensures that billable expenses can be correctly charged to clients when appropriate; both of which are key to optimizing project profitability.

Using Zetadocs Expenses to maximize project profitability

Zetadocs Expenses, an expense management solution built for Business Central, helps both the project and finance teams to maximize the profitability of the projects being delivered to clients, by making the capture of project-related expenses much easier for both employees and finance teams.

Easily assign expenses to projects & tasks in Business Central

Employees can easily record their project related expenses by selecting the relevant project and task from drop-down lists that use smart filtering, so that only tasks for the selected project are shown. This includes the option to use display groups to make it easier to find and select the relevant task.

Once expenses have been submitted and approved, both finance teams and project managers have central visibility of the expenditure in Business Central, shown against the relevant projects and tasks.

See how Zetadocs Expenses integrates with Business Central below:

Automatically import projects & tasks from Business Central

Projects & tasks in Business Central can be automatically synced with Zetadocs Expenses daily, or manually at any time. This ensures that employees are always selecting from up-to-date lists of projects & tasks when submitting their project-related expenses.

Key benefits

These enhancements benefit both finance teams and employees working on projects:

• More control for finance teams and project managers, who have visibility of employee expenses related to projects and tasks within Business Central, enabling them to track these costs effectively and maximize the profitability of projects
• Greater accuracy in project expense data, since employees select the relevant projects & tasks from an always up-to-date list when submitting their expenses. This avoids typos and makes it less likely that they select the wrong or closest match value
• Save time for finance teams, with no manual data entry needed to allocate expenses against projects & tasks. Plus, no need for finance teams to maintain separate lists of projects & tasks in Zetadocs Expenses given the automatic synchronization of this data from Business Central
• Simplicity & convenience for employees who can submit their expenses with accurate project & task info easily included using an app on their phone, get notified once approved and be reimbursed quickly

Want to find out more?

If you are currently using Zetadocs Expenses, you can find out more in our online help about how to synchronize your Business Central projects, tasks & dimensions with Zetadocs Expenses.

If you are not yet using Zetadocs Expenses, you can find out more about the solution on our website or Microsoft Marketplace.

Either way, please don't hesitate to contact us directly or speak to your Dynamics partner if you would like to discuss your requirements further.