Expense management involves recording and tracking all money spent by the institution. This process ensures that all expenditures are properly documented and linked to approved activities.
Before recording an expense, the system requires that a requisition be created and approved. This ensures that all spending is authorized and follows proper procedures.
To record an expense, navigate to the Expenses section and create a new expense transaction. Enter the required details, including the associated requisition and expense items. Once confirmed, the system records the transaction and updates the financial data accordingly.
Expenses can also be verified and approved within the system, providing an additional layer of control and ensuring that all financial activities are legitimate.