What is It, How Do We Use It and Who Does it Best Serve?
Tallie is the accounting industry’s preferred expense report software solution and it has changed a lot lately. In mid-2017 the investment firm K1 invested over $125 million to form the largest independent expense management software company. The company merger brought together expense management software leaders Certify, Nexonia, ExpenseWatch, and Tallie.
The primary purpose of Tallie is to help businesses manage expense reimbursement. They have a simple step-by-step process to help you keep up with the expenses associated with your company. It even works with credit card transactions. So, let’s say you’re an employee with a corporate credit card. Once you enter the codes and categories, Tallie allows you to download the expenses from the credit card and classify all those expenses to the right line item in Sage Intacct. Also, if you have them, it will pick up duplicates.
Where Bill.com is accounts payable, Tallie manages employee credit cards and employee expense reimbursement. So if you pay for something out of your pocket you could code it in Tallie, fill out your expense report, and then it would import into Sage Intacct.
Also, Tallie tracks mileage. It’s an excellent tool for accounting firms, lawyers and other types of businesses that charge by the mile. You can log that mileage in Tallie, and it creates your expense report reimbursement.
What Companies Does it Best Serve?
We use Tallie about 10% of the time because many of our clients are multi-entity companies and we do much dimensional reporting within Sage Intacct. It sometimes throws Tallie out of the running in the way that we process things. We want to treat it at a deeper level of detail across various entities. Today Tallie doesn’t work that way. However, I do see it working that way in the future. It’s not the best solution for all our multi-entity clients.
What we have found is that more than half of our clients have found it’s easy to submit a receipt and write on the receipt what the expense was for and then send it into our department. We then know to reimburse them. We don’t have numerous companies right now with a client base that has a large employee expense reimbursement issue, and it’s not our focus. That’s why right now we don’t need to use it as much. However, some companies have colossal employee expense reimbursement, and it works well for them.