Bill Hanna, a CPA, explains why email budget approvals waste time and create audit problems. Automation linked to pre-approved budgets gives you real-time spend tracking and a clear record. Bill.com lets you set budgets by vendor or department and match invoices automatically.
Hey, I have a $2,000 invoice from a vendor for event setup. I need to email the marketing manager to make sure that this is already in the budget. Well, don't use email for that. This is what we did a decade ago. Just upload it to Bill Hanna and match it up against a pre-approved budget. Hey guys, if you're an accountant, you know this pain. Some of us are still emailing and chasing folks for budget approval. Chasing approvals comes with two problems. Number one, it wastes valuable time, especially if you're trying to close the financial period. And two, there is no clear audit trail for the budget approval aside from the email. This is why it's always recommended you use an accounts payable workflow that's mapped to an approved budget. One of my go-to platforms for this is Bill Hanna. Who actually reached out to me so I can showcase their product. With Bill, you can create a budget by vendor or by line item for each of the departments. This allows you to track your spend against budget in real time. If you want to stop searching through your inbox for an approval from 6 months ago and scale with something that's actually proven, check out bill.com/proven. They're offering a $250 gift card for qualifying businesses. Terms apply.
