Here’s how to review and approve a fund request on Rindegastos’ web platform easily and quickly.
WHAT IS A REIMBURSABLE FUND?
A reimbursable fund is an allocation of money designated for specific expenses. In this fund, a submitter is assigned a certain amount of money to use for work-related travel, business events, client visits, and other activities.
The company pre-determines the fund amount for the specific activity, or you as a Submitter can request an approximate amount to cover the expenses for that activity.
WHAT IS PETTY CASH?
Petty cash is a fund allocated for recurring minor expenses within a company. Its purpose is to ensure there is available cash to cover extraordinary or unexpected daily expenses, and to maintain order and control.
The company determines the petty cash amount, and expenses must be justified with receipts, tickets, invoices, and other documentation, in accordance with the company’s defined policies.
WHY DID THE FUND MODULE CHANGE?
Our platform is constantly working to optimize user time, so we created a specific module for managing funds. This allows for faster approvals, speeding up the process of money allocation by companies.
HOW TO REVIEW AND APPROVE A FUND REQUEST
In this module, you’ll see different types of fund requests, such as travel expenses, petty cash, advances, projects, and more. The review process is the same for all these cases. However, each company may have its own internal control systems, which might require additional documentation according to company policies. The process is very simple, just follow these steps:
From the "Approver" menu, select "Fund Request."
On the screen, by default, you will always see the requests with an 'In Process' status that are pending your review.
To find a specific fund request, use the filter at the top to select the status (to review / reviewed), fund type (reimbursable fund / petty cash), and user (Submitter who requested the fund).
In the top right corner of the fund request, you’ll find three dots where you can access the review workflow, history, and also return the fund request.
After reviewing, leave a comment and click "Submit Request."
That’s it! In just a few steps, you’ve approved the fund request, and the Submitter can now include the approved fund in their Expense Reports.
🧐Note: Fund requests can only be approved or returned to the Submitter; unlike expenses, they cannot be rejected.