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Expense Report Tips

By Edited May 11, 2015 0 0

Here are some tips that may be helpful if you have been looking through your company's employee expense report system and you are seeking to improve it or to look for difficulties and problems so as to make changes. Always keep in mind that the fundamental goal of the expense report is to reimburse your employees for expenditure they had made in the service of the firm, or for expenses incurred that are to be reimbursed even if they are say for entertainment, as part of benefits.

The easiest tip to start off is if you are still using pen and paper accounting and employee expense report tabulation method. Quickly junk that and buy a proper piece of software and equipment. Pen and paper just takes too long. There are many cheap software available, some at 20 dollars or less. Use them. They save time as typing is faster than writing, and manually doing calculations is slower than a computer. They also save space as you do not need files and folders to store all the sheets of papers. And they save money as now you need to hire less people to take over the management of the expense process.

Pair up the needs of your company with the capability of your expense report. Are most of the expenses from traveling? If they are under traveling, what form is it. Is it air travel for business trips or is your company located in some out of the way place that reimbursement is required for their daily commuting expense. Or does the needs of the company require people to drive to far away factories on their own petrol. For air travel, do you cover food expenses or just the plane ticket. How about hotel accommodation? Find a software that aligns itself in its features and prices, and its compatibility with the needs of your company. If you can do that then having a streamlined expense report process is a breeze.

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