Costpoint Expense Wizard-Improving Expense Entry and Management

Posted by Leslie Baran on November 15, 2019

Woman at screen for Costpoint Expense Wizard

As a government contractor, entering and managing expenses in a quick and efficient manner helps ensure compliance and eliminate potential audit issues down the road. With Expense Wizard, a user-friendly mode for entering expense authorizations and reports in Time and Expense 10, users now have an improved workflow enabling them to more efficiently manage expenses. Expense Wizard enhancements include:

  • Location entry and button labels: New buttons spotlight next steps making the interface simpler and more efficient than before. 
  • Color-coded workflow: Each step of the workflow is clearly identified, so you always know where you are throughout the entry process. 
  • Validations as you go: Learn of incorrect or missing entries, or those requiring additional explanations, as you move through the expense process, making the entry process more streamlined.
  • Attachment entry before submission: Add receipts before you submit your Expense report, creating a better user experience and no need to add attachments after submission of your report.

    Costpoint Time and Expense Expense Wizard Labels
    Easily understand where you are in the process and see next steps with location entry and labels.

Expert mode is still available, so you can continue to configure the expense solution to best meet your needs.

In addition to a streamlined workflow and efficient usability, it’s important to remember a comprehensive expense solution should incorporate several key factors.

  • Administrators should be able to view expenses before approving. This helps reduce the chances of incorrect expenditures or delays in payment.
  • Insight for project managers to view charges against projects. With an easy to view dashboard, project and finance mangers can ensure expenses remain in line with budgets throughout the project lifecycle.

    Costpoint Time and Expense Wizard Workflow
    Get validations as you move through the workflow

  • A complete understanding around per diem expense costs and ceilings for pre-travel authorizations. Government contractors have unique needs, different than other industries, and it’s important to have a solution that understands set per diem limits and ceilings and can easily adjust as updates are required. 
  • A solution that allows for hierarchy of approvals for pre-travel authorizations. To best manage expense authorizations a hierarchy of approvers should be in place versus having to have approvals go to all managers at one time. This can help expenses move more quickly through the process and ensure timely payouts.

Interested in learning more about Expense Wizard and Deltek’s Expense Solution? View our Costpoint Expense Wizard webinar and find out how Costpoint's Expense Solution can help your business.

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