Reimbursement Tracking in Bear Trax

Bear Trax simplifies the reimbursement process for employees, ensuring that all business-related expenses are tracked, reviewed, and reimbursed in a timely manner. Here's how the system manages reimbursement tracking:

Expense Submission and Approval

Employees can submit their expenses through Bear Trax, which are then routed for approval:

1. Submission: Employees submit expenses by selecting categories, inputting details like amount, date, vendor, and business purpose, and uploading receipts.

2. Approval Process:

   • Once submitted, expenses are reviewed by Managers or Admins based on the employee's role.
   • The approval process includes checks for compliance with company policies and spending limits.
   • If any issues are found, the expense may be rejected, and employees can adjust and resubmit.

3. Audit and Logs: Every action taken during the approval process (approval, rejection, resubmission) is logged, providing a detailed history for future audits.

Reimbursement Status Tracking

Bear Trax provides a clear view of where each reimbursement request stands:

• Pending: Expenses that have been submitted but are awaiting approval.
• Approved: Once an expense is approved, it moves into the processing stage.
• Processing: Approved expenses are queued for reimbursement. Employees can track when their request has been processed.
• Paid: The final status is when the reimbursement has been completed and payment has been issued to the employee.

Bulk Reimbursement Processing

For larger teams or frequent expense submissions, Bear Trax supports bulk reimbursement processing:

• Admin Control: Admins can process multiple approved expenses at once, ensuring quick turnaround for employees waiting for reimbursement.
• Batch Status Updates: Employees are notified once their expenses are processed in bulk, giving them real-time updates on the status of their payments.

Reimbursement History

Bear Trax keeps a detailed history of all reimbursed expenses, providing an easy way for both employees and managers to review past transactions:

• Expense History: Employees can view a list of their past reimbursements, including details like the amount reimbursed, the date of reimbursement, and any notes from the approving manager.
• Audit Logs: Managers and Admins have access to a more detailed history that tracks every step of the expense submission and reimbursement process, ensuring transparency and accountability.

Notification and Alerts

Bear Trax ensures employees are kept informed throughout the reimbursement process:

• Submission Notifications: Employees receive notifications when their expenses are submitted, approved, rejected, or processed for payment.
• Reimbursement Confirmation: Once a reimbursement is completed, employees are notified that their payment has been made.

Integration with Payroll

Reimbursements processed through Bear Trax can be integrated into the payroll system, allowing seamless tracking of both salaries and expense reimbursements:

• Payroll Integration: Approved reimbursements can be automatically added to the next payroll cycle, ensuring employees are compensated along with their regular pay.
• Separate Payment Option: Alternatively, reimbursements can be processed independently of payroll, providing flexibility for organizations to handle payments as needed.

By providing clear visibility, detailed tracking, and efficient processing, Bear Trax ensures that reimbursement management is streamlined for both employees and administrators.