Learn the ways to set up and tailor CostPocket to your business needs and save hours for you and your colleagues when sorting the business expenses.

Standard CostPocket settings already fit the majority of our customer needs, but we strongly recommend going over the options in detail. From express reporting mode with minimal input from the submitter, to custom expense types and e-invoice activation: as an administrator of the account you can set it all up within 10 minutes. Let’s do it!

Content

Integration with accounting software
Reporting settings
Pricing plan
E-invoice activation
User management
Approval rounds
Important advanced settings

Integration with Accounting Software

Forget physical paper submission or forward emails with PDF files to the accountant. We have developed integrations with over 30 local and international accounting software providers so the data is automatically synchronized. Next time you submit a document via app or email, CostPocket digitisation robot will capture data and send it straight to the accounting software. No more envelopes filled with receipts - everyone is happy to avoid this part of the process :)

Integration is usually activated from both CostPocket and accounting software sides. Start by finding your accounting software in Settings > Integrations in our app and follow the instructions. Alternatively, learn more about the integrations in our tutorials.

Did not find your accounting software in the list? Contact our support team and we might be able to help. If you do not use any accounting software, then choose Excel / PDF option to receive convenient summaries every month.

Reporting Settings

Based on company size and accounting standards, accountants require a varying level of details when reporting business expenses. In smaller companies owners often opt for the “Express” mode and submit only the document itself. Meanwhile, accountants in larger organizations usually ask for more details, such as payment method, expense type, etc.

Administrators can set processes when submitting a document in Settings > Advanced Settings > Manage steps for submitting expenses. The steps are:

Expense type: users can assign the document as business, representation, transportation or other cost. In specific cases, admins add custom expense types to fit their needs. For example, one company is tracking fuel consumption and added a type “gas”.
Reimbursement: can be deactivated if all payments happen using a company card. Otherwise, accountants must always know whether the reported expense needs to be reimbursed or not.
Comment: a field for any kind input by the submitter. Project names or cost departments are often noted down here.

By default, all input steps are turned on. Admins can disable them one by one or simply choose “Express” mode. Learn more.

Pricing Plan

After registration, you start with a free demo plan by default. It allows submitting up to 5 documents a month. When you deal with more documents, choose one of the plans in Settings > Plans.

We offer two types of digitisation services:

Robot - instant digitisation at 90+% precision with CostPocket robot.
Human verified - usually it takes up to 1 business day to real human eyes to confirm the correctness of the data extracted by our robot. Precision at 99.9%.

Learn more about the plans and the features on the pricing page of our website.

E-invoice Activation

The future of invoices is already here: electronic invoice, in short e-invoice. It contains structured data from the supplier that can be automatically imported into the buyer's accounting system without requiring any manual work. Do not get confused - e-invoice is not a standard invoice in PDF format that you send by email. E-invoice is formatted in a machine-readable format and is processed automatically.

All public authorities in the EU are legally required to be able to receive e-invoices. Estonia is one step ahead and from the middle of 2019 public sector companies accept only e-invoices.

You can send and receive e-invoices through CostPocket. Activate the service in Settings > E-invoicing and inform your suppliers about it!

User Management

The biggest organization we help to simplify expense reporting processes has 1685 users. Make sure everyone handling expenses in your company is invited to CostPocket. Don’t forget your accountant: we have a special cloud platform for them to conveniently manage the submitted documents.

Invite others to join your organization and assign them as Admin or User in Settings > Users. See the tutorial. Alternatively, allow users to join your company in Settings > Advanced settings > Enable user to join company and your colleagues will be able to join without an invite. You will be notified by email whenever a new user joins you on CostPocket.

Approval Rounds

Do expenses need to be approved by the managers in your company? We have developed a tool to handle this process over the app. Initially, you need to define the workflow for expense approval: adding submitters and approvers, selecting types of reports and documents, etc. From here, the accountants will receive data only after the expenses get approved by the managers.

Turn on the Approval Rounds and set them up in Settings > Advanced settings.

Important Advanced Settings

Complete the setup of your account in Settings > Advanced settings:

Reporting settings - set daily allowance (per diem) and mileage (available only for Estonian companies) rates. By default, daily allowance rates are based on local legislation, while mileage rate is set at 0.3 EUR per kilometer.
Single documents and reports - smaller accounts usually submit their expenses as single documents. However, aggregating the expenses to reports becomes handy when handling more than 5-10 documents every month per user. Make sure to enable reports if your colleagues travel for business, use private or company car (mileage report) or expenses go through approval rounds for confirmation.
Report foreign VAT separately - this setting is turned off by default, as less than 1% of companies claim back VAT from foreign receipts and invoices. Nonetheless, if your company has cases when foreign VAT paid is claimed back, turn the setting off so the foreign VAT will be visible in accounting.

Enjoy Paperless Accounting with CostPocket

CostPocket is a great solution straight out of a shelf, but tailor the settings and get all the benefits!