Role: ✔ Admin, ✔ Accountant, ✖ Team Manager, ✖ Employee
For accounting, closing the books at the end of a particular period is fundamental. It offers companies insightful data about their financial status and accurate financial forecasts to business owners.
Spenmo understands that this process can be time-consuming and challenging. To make reconciliation easier, Spenmo provides an "Accounting" page to handle all your bookkeeping work.
Chasing receipts, reviewing transaction details, and tracking downstream accounting integration and reconciliation can all be done from one page conveniently.
The Accounting Page is accessible for users with Admin or Accountant roles. On this page, you will be able to find all transactions which require reconciliation (Bill and Card expenses, top-ups, reversals, and refunds).
You can also easily track all pending accounting tasks at a single glance with the help of the statuses on this page. Below are the details of each status on the Accounting page:
All transactions with the required fields that are not completely filled will be shown at this step. Please find a guide about required fields and how to set required fields for transactions here.
In a hurry to close the books, but still missing some information? We still allow you to save and proceed with incomplete details transactions to the next step.
You can also update the details for multiple transactions at the same time by using bulk editing. Also, you can send reminder emails to employees who haven’t uploaded attachments or receipts yet. Please find a guide on how to do so here.
Ready to Review
After your transaction details are complete, you can double-check by reviewing all the transactions here before reconciliation.
We encourage you to keep reviewing all types of transactions to achieve maximum control of when, how, and what transactions get reconciled.
Currently, we support Xero integration in Spenmo and we recommend you integrate it so you can sync and reconcile transactions easily at this step. Please find a guide on how to do integration here.
If you think that you don’t need this step and want the transaction to be automatically synced or completed after saving the transactions, you can skip this step by following the guide here.
(When connected to Xero)
With the In Queue tab, you will never lose sight of a transaction after you proceed to sync and you never have to be worried that a transaction is missing.
Once you click on sync at the Ready to Review step, all transactions are queued and visible here until they are synced and moved into the completed tab.
(When connected to Xero)
If the transaction failed to be synced, it will be shown in this Sync Failed tab. You can check the reason by clicking the (?) icon and trying to sync again.
You can find all your successfully synced transactions here. If your Spenmo account is not connected to any accounting software (e.g. Xero), you can find all reviewed transactions and easily download them for the reconciliation process in accounting software.
Download using Custom CSV which allows you to import the transactions data faster in accounting software. Please find a guide on how to do so here.
Click on the video below to learn more!
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