We’ve kicked off 2024 at Sage Expense Management (formerly Fyle) with an action-packed quarter marked by exciting new launches, partnerships, and ongoing enhancements.
Comply with IRS Guidelines: Commute Deduction for Mileage Expenses
IRS guidelines require commute miles (distance traveled between home and work) to be deducted from mileage reimbursements. Our new automated commuted deduction feature helps you do just this!
Setting up this feature is easy. Employees only need to add their Home and Work locations, and we will automatically calculate one-way and two-way commute distances, ensuring precise deductions. You also gain complete visibility into employee activities, tracking applied commute deductions and accessing detailed information on actual and claimed distances. Read more about this feature here.
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Admins and Approver can now Split Expenses
Till now, on Sage Expense Management, expenses could only be split by the employee while creating the expense, before adding it to an expense report. With this update, you can now split your employees’ expenses as their admin or approver. This includes expenses that have already been submitted for approval. This eliminates back and forth, saving your time - you can easily split any expense on behalf of an employee without the need to send it back to them.
Restrictions on Expenses with Pending Transactions
To ensure that only clean data flows into your accounting integration, you can now restrict any corporate card expenses with pending transaction status from being split or submitted. For transactions coming in from the real-time feed, banks may take a while to settle the transactions, sometimes causing a difference in the pending and posted amounts. With this restriction, only expenses with posted (settled) transactions are submitted for approval and subsequently exported to your accounting integration.
Integrations
Sage Expense Management - MS Dynamics 365 Business Central Integration
Another exciting news! Sage Expense Management now integrates with MS Dynamics 365 Business Central, becoming the only expense management software offering a pre-built integration with MS Dynamics 365 Business Central.
This two-way integration enables you to seamlessly import your Chart of Accounts as Categories and Vendors as Merchants into the platform and export Expenses as Journal Entries and Purchase Invoices in MS Dynamics 365 Business Central.
This integration can be set up in just a few simple steps. You can also set up automatic export of expenses from Sage Expense Management to MS Dynamics 365 Business Central, with complete customization of the exported data. Learn more about this new integration here!
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Sage Expense Management - Sage 300 CRE Integration
We've introduced a two-way integration with Sage 300 CRE, becoming one of the first expense management systems to offer direct integration with an on-premises construction accounting system. This integration enables the direct export of reimbursable and credit card as AP invoices, complete with detailed expense coding using Job, Cost Code, and Category from your Sage 300 CRE account, significantly reducing your manual workload. Learn more about the integration here.
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Upgraded Sage Expense Management-TravelPerk Integration
Based on valuable customer feedback, we have enhanced the TravelPerk integration, offering extensive customization options for how you set up the integration. This includes the ability to configure payment profiles, designate expense creators, determine invoice structure, and map booking types to specific Expense or GL accounts. Once set up, the integration operates seamlessly, streamlining the entire expense management process for all your travel expenses.
Direct Export Support for Netsuite and Sage Intacct
You can now seamlessly export expenses from Sage Expense Management directly to accounting systems like Netsuite and Sage Intacct from the Reports page. This feature eliminates the hassle of toggling between tabs, making your workflow more efficient. Following its success with QuickBooks Online, this feature is now available to Netsuite and Sage Intacct customers and will be extended to Xero customers as well in the upcoming quarter.
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Stay tuned
There are more exciting updates coming up in the next quarter!
The Sage Expense Management-Netsuite integration is going through a massive revamp following the success of the upgraded versions of theintegrations with QuickBooks Online, Sage Intacct, and Xero. This will reduce the onboarding time, enhance the export experience, and simplify error resolution, making using this integration effortless!
We’re also building a Budgets dashboard- where you will be able to track budgets in real time! As employees add expenses on the platform, you can actively monitor the utilised and available amounts for all budgets you have created. For each budget cycle, the data will help you for reporting and auditing purposes.
