The one system your business needs.
Billing, GST, stock, purchase and sales in one open source system. One price per company, every app included, AI on your own key.
- Every app included, one price per company
- GSTR-1/3B, e-invoicing and e-way bills built in
- AI on your own key, or on your own servers
A person on our team replies. The reply time is on your quote.
Expense Management for Consulting and Service Firms
Expense claims at a professional services firm are tied to client work. A consultant flies to Hyderabad for a workshop, or an audit team spends a week at a client's factory in Vapi. The engagement letter often says travel is billed at actuals. In practice the bills arrive weeks after the invoice has gone out, tagged to no engagement, and the partner either absorbs the cost or sends an awkward supplementary invoice. The firm ends up funding its clients' travel without knowing by how much.
Industry Solution
Professional Services
Feature
Expenses
Why Professional Services teams run Expenses in OneYukti
In OneYukti, the Expenses app starts from the engagement. Each engagement is a project with its own expense budget, since budget tracking works by project as well as by department. A consultant photographs receipts during the trip, OCR extracts the merchant, date, amount and currency, and the expense is recorded against that project. The Project app tracks project-related expenses and bills them back to the client, so the reimbursable amount is known when the invoice is prepared.
Travel management lets the firm book and manage business trips with expense tracking already attached, so the flight and hotel for an assignment sit with the claims that follow. Daily allowances are handled through per diem management. Overseas assignments are covered as well, because a foreign currency amount is converted at the exchange rate on the transaction date. Partners approve from their phones, and smart alerts remind them of approvals still pending so that claims do not wait until the engagement has closed.
A partner can open any engagement and see what was spent on it, under which categories, and by whom. Expense reports carry the receipts and approvals, which is what a client's accounts team asks for before it accepts an at-actuals bill. Across the firm, trend analysis shows whether travel spending is rising, and employee spending shows where it concentrates. The decision about whether to quote the next engagement with travel included or at actuals can then rest on recorded costs.
Professional Services challenges that Expenses solves
Common problems in professional services operations that Expenses in Yukti addresses
Challenge 1
Travel billed to clients at actuals is claimed late and untagged, so reimbursable costs miss the invoice
Challenge 2
Consultants keep receipts in bags and email threads until month end, then file everything in one sitting
Challenge 3
Partners cannot see what an engagement has cost in travel until long after the work is delivered
How Expenses in Yukti helps Professional Services
What professional services organizations using Yukti get from the app
Benefit 1
Project-wise expense tracking ties each receipt to an engagement, and the Project app bills it back to the client
Benefit 2
Travel management keeps the trip booking and the claims that follow it in one record
Benefit 3
Multi-currency support converts overseas spending at the transaction-date exchange rate without manual working