Expense Profiling

  • Monday, September 7, 2099
    8:00 am - 5:00 pm
Description

Identify average expense transaction sizes by business unit/division/department/cost center by highest total and highest average spend:

  1. Obtain a dump of all of the T&E expenses from within the audit period you want to review.
  2. Import the expense data into ACL Analytics using the import wizard.
  3. Ensure completeness by verifying the data against control totals (e.g. count, and total on expense amount to tie to audit period actuals).
  4. Summarize on Cost Center (could be department or business unit) and Expense Category, subtotaling on Expense Amount (FC)
    • Check “Include Statistics for Subtotal Fields” to produce average, minimum, and maximum values for the Expense Amount field.
  5. Examine the results of the Summarize (step 4) to review the cost centers with the highest total spend in each category.
  6. Examine the results of the average calculation (step 4) to review the cost centers with the highest average spend in each category.
Considerations
  • For your T&E data, make sure you have fields such as:
    • Expense Report Number
    • Expense Line Number
    • Cost Center
    • Expense Category
    • Expense Amount (Functional Currency, FC)
    • Employee Number
    • Employee Name
    • Employee Department
    • Expense Date
    • Number of Attendees
  • It can be a hassle to chase after every slightly-too-expensive employee meal, but if you are able to narrow down a trend by department it can be much easier to handle the issue.
  • Specify a time period to investigate, and if time is available consider comparing differences in fiscal quarters.
  • Please note Step 4 requires AN version 11.4. To calculate the average expense amount manually, you can define a computed field:
    • Total Expense Amount (FC) / COUNT (number of transactions in the same cost center and expense category)
Price Qty
Test 1show details + £0.00 (GBP)*  

* price includes taxes


Tuesday, August 9, 2016 In: Comments (None)

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