TELECOM COST ALLOCATION – GL CODE ALLOCATION – CHARGEBACKS
One of the key ways to keep track of your telecom expenses is to setup proper cost allocation for each expenditure.
With Expense Manager Services, telecom costs can be allocated to specific GL codes enabling reporting of costs by department, location, employee and more. This will help your organization better understand where specific charges are originating.
Expense Manager Services, assists in this task by developing very granular telecom cost allocation. Our tool can store accounting codes and then associate them with individual types of charges incurred by individual inventory items. For example, the voice portion of a cell phone’s charges could be set to allocate to one code, and the data portion to another. Or, the voice portion could be split by percentage over 5 codes.
TELECOM EXPENSE TYPES
- Wireline costs – a phone sitting on a desk
- Wireless costs – a cell phone plan or the device itself
- Internet service – wireless data plans or home internet connections
- Other items like, data devices and tablets
Then, once the data is entered, it can be set to interface with your internal AP system so that the charges flow to the codes that are already setup.
BENEFITS FOR FINANCE, IT AND TELECOM
Managers want to know who pays for telecom services, and how much they pay, so they can make intelligent decisions using that data.
IT and finance both want deeper visibility into what is driving costs, and insight as to how the environment can be restructured to minimize the impact to the bottom line.
Expense Management Services will set custom validation rules, so you can track telecom invoice data the way you want. Once the errors or over-billings are identified, the process of working with your telecom vendor to recover that money begins. This enhanced visibility allows you to evaluate if you’re getting the best deal for your various services and devices, or if you have more infrastructure than you need. That can save money also!