Efficient Reimbursement Requests Approval and Scheduled Payments: A Comprehensive Guide

Managing reimbursement requests can be a complex process, especially when dealing with multiple items within a single request. At Jestor, we’ve developed a robust system to simplify this process, allowing for itemized approvals and scheduled payments. This guide will walk you through the features and benefits of our reimbursement system, helping your organization streamline approvals and manage payments efficiently.

The Challenge with Traditional Reimbursement Systems

In many traditional reimbursement systems, you might encounter situations where a request contains several items, and while most are valid, one or two might not comply with company guidelines. Traditionally, this would mean rejecting the entire request, causing delays and additional work for both the submitter and the approver. Our system addresses this issue by allowing partial approvals, so you can approve valid items while denying or reviewing others.

Key Features of Jestor’s Reimbursement System

1. Itemized Approvals: Approve or deny individual items within a reimbursement request, providing granular control and avoiding unnecessary delays.
2. Automated Summaries: Automatic calculation of total approved and requested amounts, ensuring accurate and efficient tracking.
3. Scheduled Payments: Define payment schedules based on company policies, with automated reminders and alerts to ensure timely disbursements.
4. Confirmation Emails: Automatic emails to requesters upon approval, detailing the approved amounts and payment schedules.
5. Comprehensive Dashboard: A user-friendly dashboard displaying pending approvals, scheduled payments, and payment logs.

Step-by-Step Process

1. Submitting a New Reimbursement Request

Users can submit a new reimbursement request through a simple form. The form allows for the addition of multiple items, each with its own description, amount, and receipt attachment. This scalable structure supports an almost infinite number of items per request, offering flexibility and efficiency.

2. Approval Workflow

Once a request is submitted, it appears in the dashboard for review. Approvers can:

• Approve or Deny Individual Items: Review each item and approve or deny based on compliance with company guidelines.
• Partial Approval: Approve valid items and deny or mark others for review, allowing for partial reimbursement.
• Automatic Calculation: The system calculates the total approved amount in real-time, providing immediate feedback.

3. Scheduling Payments

Approved items are then scheduled for payment based on predefined company policies. For example, payments might be scheduled for a week after approval. The dashboard displays upcoming payments, with color-coded alerts for due and overdue payments.

4. Confirmation and Notifications

Upon approval, the requester receives an email detailing the approved amount and payment date. The system can also generate rejection reasons automatically, providing clear feedback to the requester.

Building the System

Our system is built on a flexible and scalable structure using relational databases. Here’s an overview of the key components:

Reimbursement Requests Table

• Fields: Description, Requested Amount, Approved Amount, Payment Date, Status, Attachments.
• Unique ID: Each request is assigned a unique code for easy tracking.
• Automation: Buttons for approving or denying requests trigger automated emails and status updates.

Reimbursement Items Table

• Fields: Title, Description, Amount, Status, Attachments.
• Connection: Each item is connected to a specific reimbursement request.
• Rollup Fields: Automatic sums of requested and approved amounts, ensuring accurate calculations.

Customization and Flexibility

Our system allows for extensive customization to fit your organization’s specific needs. From modifying date calculations to integrating AI for automated rejection reasons, Jestor’s platform offers the flexibility to build a solution that works for you.

Conclusion

By leveraging Jestor’s reimbursement approval system, your organization can enhance efficiency, ensure compliance, and provide a smoother experience for both requesters and approvers. Our itemized approval process, automated summaries, and scheduled payments make managing reimbursements easier than ever.

For more information or to download our template, visit Jestor’s Template Store or contact our support team.