We've been hard at work this quarter to make expense management smarter, easier, and more tailored to your needs. From the launch of our AI-powered Fyle Copilot to new integration with Microsoft Dynamics 365, plus enhanced features for Sage Intacct and QuickBooks, we're excited to share how we're helping simplify your workflows. Let’s dive into the highlights that will make managing your company's finances smoother and more insightful than ever!
Fyle Copilot - BETA Launch!
Fyle’s very own AI assistant - Copilot, is live in beta now. It is designed to give you rich insights into your company's expenses and reports by answering all sorts of questions about your company's expenses. Here are just a few things you can ask Copilot:
- Show policy violations by category for this year.
- How has our spend grown over the last year?
- Which merchant did we spend the most with last month?
- Which employee made the most policy violations this year?
You can say goodbye to traditional reporting and insights and let Fyle Copilot give you actionable data insights using the latest cutting-edge AI. Check out our help article to learn how you can get access to Fyle Copilot. You can contact us at support@fylehq.in to sign up for beta!
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Add Multiple Delegates
You can now delegate your account to multiple users within your organization. Delegation can be set up by admins or employees themselves. This is useful when you have more than one person coding and submitting expenses on your behalf. Moreover, having multiple delegates adds redundancy; in case one of your delegates is unavailable, another can continue with coding, making sure expense management doesn’t stop!
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Integrations
Microsoft Dynamics 365 Integration Beta Launch!
Fyle’s much-awaited integration with Microsoft Dynamics 365 Business Central is now in Beta! This is a 2 way integration that would support import of chart of accounts and vendors as categories and merchants in Fyle and export of expenses from Fyle as Journal entries and Purchase Invoices in Dynamics 365 Business Central.
Employees of your organization can text receipts to Fyle, and once it is coded and approved, they can be automatically synced over to Dynamics 365 Business Central. This bi-directional integration also supports importing dimensions such as chart of accounts and vendors from Dynamics Business Central 365 to Fyle.
Moreover, you can even restrict specific projects or categories to employees based on what’s relevant to them! Reach out to support@fylehq.com to learn more and sign up for beta!
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Import Allocations from Sage Intacct
Fyle’s integration with Sage Intacct now lets you import your Allocations from Sage Intacct to Fyle. These Allocations will be available in a dropdown list for users to select when creating expenses. The integration will also export the selected Allocation values back to Sage Intacct, which will then handle splitting transaction amounts into multiple dimensions based on how the allocation is set up.
If you have Allocations set up in your Sage Intacct account and use them to split transactions into multiple dimensions such as departments, locations, etc., and you are exporting expenses from Fyle as Bills or Journal Entries in Sage Intacct, this will help ensure that costs and revenues are accurately reflected in the appropriate areas of the business, making it easier to manage budgets and analyze financial performance.
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Import Dimensions to Fyle with Code-Name Combinations from Accounting Integration
You can now import and view Expense accounts, Project+Cost Code+Cost Category, and Vendor Names along with their Codes as concatenated values in Fyle. The Codes are also visible during mapping and default value selection in export settings to prevent errors, especially when dealing with identical names. This will help your employees if they depend on codes rather than just names to organize and identify projects, categories, and other dimensions.This feature is available for Fyle’s integration for Sage Intacct, Sage 300 CRE & QuickBooks Online.
Split Expense Posted in Single Record on QuickBooks Online & Sage Intacct
When exporting Credit Card Expenses from Fyle as Credit Card Purchases to QuickBooks Online & Sage Intacct, you can export all expenses split from a single transaction into one single Credit Card Purchase Entry on your accounting software
The Total Transaction Amount displayed on the entry will be the same as the summation of the amounts of all split expenses. This Total Transaction Amount will also match the transaction amount on the credit card statement. This will make your reconciliation process easier & faster!
We are also working on bringing this functionality to Fyle’s Netsuite integration very soon.
Post expenses into Items on QuickBooks Desktop
Fyle’s QuickBooks Desktop integration now supports posting expenses from Fyle to an item on QBD. If your organization is in the services or construction vertical and you use Items such as Products/Services in QBD to track business costs and create Job costing reports, and if you are exporting Credit Card Expenses as Credit Card Purchases in QuickBooks Desktop. In that case, you can easily configure items on Fyle to categorize and export expenses to the item detail in QuickBooks Desktop.
Explore these powerful new features if you haven’t already and keep an eye on this space for all the exciting developments in the next quarter! Learn more about Fyle and get a demo of the platform today.
