How can you identify duplicate expenses on expense reports using data analytics?

One method is to employ SQL queries to sift through the expense data, performing queries that identify duplicate entries based on specific criteria such as the date, amount, or vendor. Additionally, by importing the expense data into Excel, we can utilize built-in functions and conditional formatting to highlight discrepancies, making it easier to spot inconsistencies. Understanding the nature of expenses and the typical patterns in financial transactions allows for the development of rules to identify potential duplicates. By combining insights from cost accounting with SQL or Excel, a comprehensive approach can be established to effectively identify duplicate expenses, contributing to the integrity of the expense management process.

Primeiro organizando os dados e criando estrutura padrão. Em seguida criando chaves (concatenar) com os dados e em coluna apartada fazer a contagem dessa coluna com a chave que foi criada.

1. Collection of Receipts. 2. Classify Expenses. 3. Generate Spreadsheet. 4. Verify 5. Cross check if any Duplication. 6. Add notes against totals. 7. Prepare data backup

Identify duplicate expenses on reports by implementing data deduplication, fuzzy matching, and checks on amounts, dates, vendors, using data analytics for enhanced financial control.

it makes it easier when you have put in place a departmental control mechanism where data from Department A (cost center) should tally with reports extracted from the supply/purchase department.

Data visualisation tools can demonstrate patterns in spending, highlighting duplications in graphs or charts that show spending trends by vendor or category. Quick identification of duplication is made easier by the use of visual representations, which help identify abnormalities or overlaps in expenses. Using data analytics, this visual insight streamlines the identification process within spending reports.

Data Visulization supported by accurate data is key element for story telling in effective manner. One can easily figure out the pattern or trend that is abnormal and drill down this further to get the detail view. This way instead of spending time reviewing all the report you will focus on these flags and focus on core issue to solve in more efficient manner.

Na falta de ferramentas mais sofisticadas uma simples tabela dinâmica pode extrair a visualização necessária usando os recursos como variação percentual em relação ao tipo despesa, quantidade de solicitação de reembolsos por funcionário, etc

1. Leverage data analytics to spot duplicate expenses in cost accounting. 2. Utilize technology for expense report analysis. 3. Scrutinize patterns and anomalies in expense data. 4. Employ algorithms to detect recurring and duplicate charges. 5. Implement machine learning for continuous improvement in identification. 6. Regularly update expense policies to prevent duplicates. 7. Foster a culture of expense consciousness among employees. 8. Establish clear guidelines for reporting and validating expenses. 9. Conduct periodic reviews using advanced analytics tools. 10. Ensure collaboration between finance and data analytics teams for efficient detection.

Data visualization crafts a clear picture of your expense data, spotlighting patterns, trends, and anomalies. Software like Power BI, Tableau, or R bring your expenses to life via interactive dashboards and charts, displaying variation and distribution of expenses across different dimensions such as employees, vendors, or projects. Features like filters, slicers, and drill-downs on these platforms, offer the ability to dissect data minutely. Ultimately, this holistic view of expenses enables easy detection of duplicate expenses, providing a more accurate and efficient financial management system.

The Benford Law can be used to identify anomalies. Benford Law is the first digit law and when applied to expenses which are free number sets will give spike in case of manipulated expenses. Say if the employee always gives expenses a little below reportable limits the benford law will present a spike.

1 Sort the data by relevant columns and use filters 2 Identify identical transactions by comparing key fields 3 Develop algorithms or rules to flag potential duplicates based on specific criteria. 4 Use statistical methods to identify outliers or unusual patterns that might indicate duplicates. 5 Standardise data formats to enhance accuracy in identifying duplicates. 6 Apply fuzzy matching algorithms to handle variations or errors in data entry, especially with text fields. 7 Explore software tools designed for data deduplication to automate the process. 8 Generate exception reports highlighting potential duplicates for manual review. 9 Cross-verify results with reference data to validate the accuracy of identified duplicates.

Duplicate expenses on your expense report can be identified by entering your data into excels use the duplicate command under conditional formatting.

Podemos adaptar recursos, parametrizar sistemas/ERP e demais ferramentas acessíveis para fazer esta análise através de relatórios, mas ainda assim estamos suscetíveis a falhas. Hoje, alguns softwares possuem recursos mais seguros e eficazes como o OCR- Optical Character Recognition, este recurso quando aplicado em ferramentas de prestação de contas por exemplo, faz análises dos documentos submetidos, cruzando informações relevantes como valores, estabelecimentos, datas e demais dados dos documentos considerando os documentos já existentes na base de dados históricos e os novos documentos fazendo esta verificação de forma mais assertiva e ágil contribuindo assim com a segurança das informações contabilizadas e despesas que serao pagas.

Data analysis has the power to transform financial strategies and drive growth for companies. By analyzing data effectively, valuable insights can be gained, expenses can be optimized, and informed decisions can be made.

It is crucial to combine analytical tools and automation solutions to ensure an effective and rapid review, minimising errors and improving accuracy in identifying duplicate expenses, providing more efficient and transparent financial management. The use of tools such as Excel, Power Pivot or Python to create tables and reports that summarise and identify duplicate expenses by the different variables is a very important point. The automation of the process can be implemented with tools such as Power Automate, Zapier or Python. All this makes it possible to send automated alerts, notifications or emails to the parties concerned, speeding up and improving the detection and resolution of duplicate expenses.

Master data quality and clarity on mandatory fields can help a lot to identify duplicates or mistakes. More than utilising tools to identify wrong data, it is very important to solve the problem in the root. The expense system should be able to block data entry that are not allowed to avoid duplicates. Free text fields usually are problematic therefore automatic and locked fields should play the role to avoid mistakes.

When using an ERP there are always limited built-in options to enable customizations. I would always go with a combo of ERP integrated with a web-based portal. Whereby web-based portal is fully customisable using .Net and database SQL tools. This way web-based solution will have all controlling features to: 01- prevent and detect duplications. 02- unlimited customisable reports 03- executive management dashboards available on one click. 04- activity logs 05- one window solution where all related comments are maintained along with uploads of relevant invoices & support documents. 05- full fledged auditing tool. ERP options provide accounting & reporting and web-based portalb provide rest of the customizations and dashboards for analysis.

A way to have data work for you is to create alerts and notifications based on potential duplicates regarding employee/vendor, expense dates, expense amounts, etc. This can assist in proactively making employees/approvers aware of potential duplicates before the funds are issued.

now it is the time to formulate the report; vendor wise quantity order vendor wise quantity received vendor wise quantity pending analytical view of all above and identified the repeated quantity with the repeated number of invoices

Data action refers to automated processes that deal with duplicates that are found, like merging, flagging, or alerting pertinent parties. It optimises accuracy and efficiency in cost management by streamlining the resolution process and assuring prompt correction of duplicate expenses within reports through preset protocols prompted by analytics results.

Once you have identified the duplicate invoices now its the time to identify the payment process of these invoices, if the vendor invoices are only booked twice then apply the process of cancellation of invoices and if the invoices has already paid then you have to review the vendors contract and reimbursed the over payment or get credit notes for subsequent payments

Finalmente los aprendizajes deben generar acciones que van afinando los algoritmos necesarios para ir generando resultados confiables y oportunos

En Excel, Hay que protocolizar la introducción y mantenimiento de datos introduciendo fórmulas necesarias para evitar duplicidades. Formato condicional, códificacion de cada fila, para crear registros únicos

It depends on whether or organization follows procuretopay cycle properly or not. For example if the most of the transactions are processed through the cycle and are settled properly and timely it is much easier to place checks and balances on the expenses since you are track expenses to their relevant vendors and invoices. But if for example most od the expenses are directly posted into the GL and not through vendor subledger then it gets very difficult to track duplications.

One thing I’ve found helpful is audit reports, you audit your own department through models which captures all duplicates and out of the ordinary expenses

Mesmo con múltiplas ferramentas de mercado que ajudam a depuração, a análise e o conhecimento de negócio do ser humano é muito valioso. Alguém experiente no tema em questão, que conhece a empresa e o negócio tem que ter um olhar super crítico pra qualquer relatório que essas ferramentas dispararem porque ainda assim existirá oportunidades de melhora

Primeiramente devemos ter a padronização dos dados assim tudo o que por lançado e estiver em duplicidade será mais rápido a análise e correção dos mesmo. Uma alternativa de padronização seria a criação de dois campos um campo para incluir o número do documento independente se for nota, cupom ou despesa bancária e outro com o tipo de documento. Exemplo Nota fiscal: Número | Tipo | Fornecedor 527 | NF | Embalagem SA Na análise de dados fazendo SQL ou mesmo utilizando o Excel com a combinação dos campos mais o valor você consegue verificar e eliminar os repetidos.

Agreed. If your erp system had a sophisticated po match and invoice processing process as well as a great payment schedule this avoids a lot of areas for unknowns. For GL Entries such as credit cards there are several ways in an ERP system such as SQL or journal trackers that can be used to audit the financial data to ensure accuracy. The best way is to manage your payables with a system that doesn’t allow exceptions such as direct GL entries, rather is set up to understand your expenses that are in the norm, anything posting directly to the GL leaves too much room for mess in my opinion.