What is Time & Expense?

Time & Expense management refers to the systems and processes used by organizations to track employee time worked and expenses incurred. This data is then used for payroll, project costing, client billing, and financial reporting. Time tracking can involve recording hours worked on specific projects or tasks, while expense tracking captures receipts and details of business-related expenditures like travel, meals, and supplies. The primary goal is to streamline these processes, improve accuracy, and ensure compliance with company policies and regulations.