In alignment with its philosophy of financial fitness, Money View – an android app – has recently incorporated yet another feature to its app called ‘reimbursements’. This feature can be used by anybody maintaining bills to track all out-of-pocket outlays thereby curtailing the hassle of physically maintaining or logging in expenses.
The ‘reimbursable’ feature is particularly helpful and saves time for busy professionals who travel extensively on business either locally or out of station and have to maintain records of incidental expenditures for submission.
There are two ways that the Money View app helps its users maintain their bills – by categorising the bank SMS alerts one receives, under ‘reimbursements’ & by uploading photographs of hard-copy receipts taken with the user’s smartphone and then uploaded under the Bill & Receipts category which can further be tagged with a note on the type of expenditure it represents.
The following, further illustrates how this feature works, in a simplified manner
From banks SMS alerts
- When a financial transaction is made (debit card, credit card, NEFT), one immediately gets an SMS notification that is summarized on the app (Rs. 780 – Dining, Rs. 1000 – Transport etc.)
- On clicking on the particular transaction, the ‘Edit Transaction’ window opens up
- By selecting ‘Yes’ and ‘Save’ under the entry ‘Reimbursable’, this particular detail gets captured
- Cash transactions can also be manually entered and marked as ‘reimbursable’
Through receipt images
- After taking a picture of the bill receipt the image can be uploaded on the app directly under the category – Bill/ Receipt (Add New)
- Thereafter, the specific details of the expenses have to be entered for further reference by making entries under ‘Notes’ – (Lunch with Client etc.)
For more information visit Money View