top of page
  • Writer's pictureDan Morales

Expense Reporting and Reconciliation with Smartsheet and Integration - Solution Design Overview 2

This is the second post in a series of Smartsheet solution design overviews that focus on use cases related to collaborative financial management to inspire Smartsheet solution creators in their future solution designs. If you are seeking inspiration for other collaborative financial management solutions in Smartsheet, you can find them linked here.


In this video you will see:

  • Accrual expenses use case defined.

  • Common challenges collaborators face.

  • A Smartsheet solution design that can address these challenges.

  • Where integration supports this use case

Chasing down data inputs and manually building reports at crunch time during fiscal close is a scenario we don't want anyone to be in. Expense reporting is a crucial process, but when done poorly, it can be time-consuming, error-prone, and stressful for everyone involved, especially during fiscal-period close. But what if there was a way to transform chaos into clarity and achieve swift and precise reconciliation?

There's a better way to collaborate on accruals in Smartsheet, where expense accruals are driven by streamlined collaboration, not a frustrating scramble. Watch our deep-dive video "Swift and Precise Expense Accrual Reconciliation with Smartsheet and Integration". This isn't just a theoretical overview; we'll dissect best-practice real-world solution designs and discuss the challenges Smartsheet and integration can help businesses overcome.


Video Recap

The challenges of inefficient accrual expense reporting and reconciliation processes

  • Manual data entry: Manually matching purchase orders and budgets to actual expenses, cross-referencing data, and submitting accruals is time-consuming and prone to errors.

  • Poor collaboration: Lack of a centralized platform that makes reporting and reconciliation accessible and collaborative hinders communication and timely reporting between business units and finance teams.

  • Period-end pressure: Accrual reporting coincides with other quarterly objectives, adding stress and potentially leading to inaccurate data.

Where Smartsheet can help

By leveraging Smartsheet and integration, you can create a streamlined accrual reporting and reconciliation workflow that starts with accessible data and ends with accurate and precise views of expenditures. Here's how:

  • Data integration: Seamlessly sync purchase orders and invoices from financial systems, eliminating manual data entry and errors.

  • Streamlined collaboration: Provide a shared platform for business units and finance teams to review, reconcile, and finalize accruals.

  • Real-time visibility: Dashboards for both managers and analysts offer clear overviews of balances, outstanding items, and accrued expenses.

  • Automated workflows: Dynamic views provide users clean actionable views, and have conditional logic lock-down capabilities to open and close specific fields for data entry.

  • Effortless reconciliation: Native automation and conversation functionality facilitates communication and clarification within the platform, streamlining discrepancy resolution.

  • Automatic journal entries: Integrate with financial systems to upload finalized accruals based on workflows and calculations in Smartsheet.


Looking for custom design guidance and recommendations?

Accrual and expense management is just one of many workflows Smartsheet can help support. Click here to take a free Financial Integration Efficiency Audit and discover where else you can streamline your financial management workflows, not just for tracking expenses but across all collaborative financial management workflows.

This free assessment will identify areas for improvement and provide actionable recommendations to help you achieve maximum efficiency and profitability.

After completing this complimentary form you will receive a comprehensive evaluation of your business's financial management workflows, including recommendations for leveraging Smartsheet and improvement areas in team collaboration and data integration.

The SoftwareX Financial Management Workflows for Financial Collaboration in Smartsheet


bottom of page