PowerPay - Reimbursement tracking software
PowerApps is a great reimbursement tracking
tool meant to automate the entire process
of reimbursement claims, vouching and payment. Expense claims
settlement is one of the costlier transactions related to employees. The
cost of processing every transaction is very high and it requires not just
accuracy, but high degree of compliance to internal controls and policies.
PowerApps allows maintaining the reimbursement entitlements linked to compensation, grade etc. Here is brief of it as offered as part of reimbursement tracking :
- Various heads of reimbursement - Reimbursement claims can be user defined as part of the compensation - such as Telephone, Conveyance, LTA, Vehicle running expenses Medical expenses etc.
- Entitlement and eligibility - entitlement and eligibility can be defined as part of the compensation plan. It could be specific amount or could be linked to category, grade location, department or any other organisation unit.
- Online claims - This feature lets your employees check available balances, claims history and file reimbursement claims online.
- Complete control and compliance - PowerApps HRMS enforces all policies as defined by you, such as number of claims in a period, tax impact of claims, period and frequency of claims etc. This can add up to tremendous savings in terms of manual intervention, paper handling and simplification of audit.
- Unclaimed reimbursements - can be paid along with salary as taxable allowance at the end of the financial year.