At Abacus, our team has continuously pushed the boundaries of what real time expense management can do for a company’s finance process. We started by eliminating the traditional expense report, enabling admins to review expenses faster and employees to receive reimbursements quicker. We then organized expenses by generating Suggested Expenses, a more intuitive engine to automatically code expenses for you before they are even created. Now, we have launched Emburse Cards for Abacus to issue virtual and physical cards within our expense management platform, providing an end-to-end expense solution with real time financial controls.
Real time expensing is the foundation upon which Abacus was built and has continued to be woven into the fabric of our DNA. We’re excited to bring a new suite of improvements to the platform that will make submitting Emburse Card expenses even faster and easier.
New: Pending Transactions
For the very first time, Abacus will be able to display pending transactions from your Emburse Card. Each transaction will be available immediately after every swipe, tap, or chip-insert conducted with an Emburse Card at the merchant. No longer will you be left questioning whether transactions are still awaiting the transition from a pending to a posted state. Abacus now keeps track of this for you.
New: Draft & Queued Expenses
We have listened to your requests and have heard your feedback: draft expenses from your Emburse Card transactions can now be saved in Abacus for submission at a later time. For example, if a user is categorizing expenses and forgets a “Project ID” field, they can still go ahead and create a draft expense to save everything that has already been entered. Or if the user is buying multiple plane tickets and needs to remember the purpose of each trip, they can save them to drafts as they create the expense. Draft expenses remain private until they are submitted, so we hope users find their own real time workflow with drafts!
With a pending transaction, users can also submit a queued expense. Since the transaction is still subject to change until the merchant finalizes the amount, the expense can be submitted but held from the manager’s inbox while the transaction is still pending. Once the transaction is posted without any changes, the queued expense will automatically be submitted. Users can now submit expenses before the transaction is even settled. Welcome to a life of seamless proactivity!
If a queued expense doesn’t submit successfully, Abacus will alert users with exactly what needs to be fixed on the expense, whether the transaction amount has changed, or a new expense policy rule was violated. The previously queued expense will simply return back to a draft expense, allowing the user to make edits and re-submit for approval, having cost them little additional thought or time.
Check out these new improvements to creating expenses in the Unexpensed tab on the web or in your iOS & Android mobile app with Emburse Cards. Coming soon, we’re also bringing the ability to split any pending transaction for submission in the same way they can be currently done with a corporate card or reimbursable expense.
If you’re interested in streamlining your company’s expenses with real time controls using Emburse Cards, request a demo here.
Your continued feedback about the Abacus experience helps us bring improvements like these to you and your company, so feel free to reach out to our support team at support@abacus.com and share your thoughts!