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Ametnes Legal ERP - Managing Expenses#

Ametnes Legal ERP streamlines expense management for legal firms, allowing users to request expenses, manage approval workflows, categorize expenses, and assign them to the appropriate ledgers and accounts. Additionally, firms can attach supporting documentation, such as receipts and notes, for accurate record-keeping and compliance.

Key Concepts#

  • Requesting Expenses - This process involves employees submitting requests for expense funds to their respective managers for review and approval. The employees must provide detailed information about the nature of the expense, the amount requested, and the justification for the expenditure. Upon submission, the manager reviews the request to ensure it aligns with company policies, budget constraints, and any relevant project or operational requirements. If the request is deemed appropriate, the manager approves the expenditure and forwards it for further processing, which may include obtaining additional approvals from higher management or the finance department.

  • Registering Expenses - Employees submit their expenses, which include a detailed breakdown of costs incurred during business activities, along with supporting documents such as receipts, invoices, or travel itineraries, to verify the accuracy of the expenses. These documents are then submitted for approval by their manager or designated approver. The manager reviews the submitted expenses for compliance with company policies, ensures that all documentation is complete and accurate, and confirms that the expenses are legitimate before granting approval. Once approved, the expenses are processed for reimbursement or recorded for accounting purposes.

  • Approval Workflow - Managers are responsible for reviewing and approving employee expenses prior to their formal recording in the accounting system. This pre-approval process ensures that each expense aligns with company policies and budgets before being finalized. By implementing this step, the organization maintains financial oversight, prevents unauthorized spending, and ensures that all expenditures contribute effectively to business goals..

  • Booking Expenses to Accounts - Once an expense is approved by a manager, the financial controller or accountant records the transaction in the appropriate ledgers or books of accounts, ensuring it is categorized correctly according to the company’s chart of accounts. This process includes assigning the expense to the relevant cost center or department, verifying any supporting documentation, and ensuring that it aligns with the company’s financial policies and accounting standards. The entry is then updated in the general ledger, ensuring accurate tracking for reporting and compliance purposes..

Roles and Responsibilities#

  • Requester - The requester is the individual initiating the request, usually an employee within the organization. It is their responsibility to ensure that the request is accurately entered and acknowledged by their manager. Once the request has been honoured, the employee must mark the request as received within the system.
  • Approver - This individual serves as the system manager or administrator. They are responsible for verifying that each request is valid and complies with company policy. If modifications are necessary, they have the authority to either reject the request or collaborate with the employee to revise or update it accordingly.
  • Issuer - The issuer is responsible for fulfilling the request. For example, in the case of a financial request, the accountant is responsible for disbursing funds to the requester. Once the funds are issued, the accountant must record the payment within the system.