At Abacus, our approach to the expense reporting process is to reshape it from start to finish. The first step was to remove the need for a monthly, batch process report. Our next steps in this journey are to create more usable meta data and to simplify data collection.
Following this path, we are excited to announce two new features for Abacus – Foreign Currency and Attendees.
Sometimes business takes you abroad and your receipts aren’t in US dollars. Most people don’t know the current exchange rate off the top of their head but we don’t want this to slow our users down. Which is why we added the ability to enter your expense in the currency it’s in and we’ll do the conversion for you using the current exchange rate.
Click on the currency type, select the country of the expense, then enter the amount of the expense. You can also change the city to find a list of applicable merchants. See our help article for more information.
Racking up expenses isn’t always done alone, but accounting rarely has insight to who you ate dinner with or shared a cab. Now Abacus users have an easy way to add other people to an expense. You can select from people within your organization, your phone’s address book, or type in a custom name. The data is stored as metadata which makes it easily searchable and reportable.
Click on the attendee icon and start typing the name of the other attendee. You can either select from within your organization, type a custom name, or select a contact from your address book if using the iOS app. See our help article for more information.
We are excited to continue adding in new features that make it easier to enter expenses as well as provide more insight to expense data. Right now, These features are currently only available on our web and iOS apps, but they are coming soon to our Android app!
Do you have an idea for features you’d like to see in Abacus? Leave a comment and let us know!