Expense Management Made Easy

Do you or your employees travel for business? Perhaps it’s for business development, project operations, meetings, sales calls, or any of the myriad reasons employees may work out of the office. How do you handle expense management?

As business becomes more mobile, companies have various travel guidelines and protocols dictating how employees track travel expenses and apply for reimbursement.

Stay on Top of Your Company’s Business Expense Policies

Companies of all sizes need expense policies to guide their employees in the correct procedures for claiming travel and other expenses eligible for reimbursement. You may even remember being chastised for not saving the needed receipts or claiming illegitimate expenses. And maybe you have disputed decisions against you.

Expense policies shouldn’t be fraught with guesswork, confusion, and frustration. Employees need to know which expenses are reimbursable and how to submit them properly. A dated expense management system is a headache for everyone. Your accounting department gets mired in paperwork and drags out the turnaround time for reimbursements. As a result, employees are frustrated, and the delays could cost your company in the long run.

Dos and Don’ts for efficient expense management

Make sure management and employees understand the privileges and limitations of your company’s expense policy.

DOs:

  • Be sure you understand your company’s expense policies.
  • Keep all your expense receipts and organize them in one place.
  • Keep copies of your expense receipts on your phone in case you lose the originals.
  • Submit your expense report as soon as you can after incurring your expenses.

DON’Ts:

  • Don’t ask for reimbursements for personal products, services, or expenses that you may have incurred during your business travel.
  • Don’t overspend for eligible expenses just because you can. If you’re not conscious of your company’s funds or budget, this will show up sooner or later, and there may be consequences.
  • Don’t hold up your expense reports and reimbursement claims longer than necessary. If you let them go for weeks or months, you’ll make mistakes, and your accounting team will be frustrated.

Go Digital and Paperless!

Paper-based expense reporting is thankfully a remnant of the past. Today’s businesses use expense management systems that are paperless and digital and rely on the latest technology to provide companies with the most straightforward and efficient features.

Gorilla Expense’s expense management system is designed to incorporate your organization’s expense policies and streamline reporting. The technology makes it easier for you and your employees to enter receipts, submit claims, and track approvals–all within one app. Whether cloud-based or on-premises, the Gorilla Expense solution takes the hassle out of expense reporting to ensure you get your reimbursements promptly.

Employees can use Gorilla Expense while on the go without having to look for a PC or lug around their laptop. They can use the app right on their phone.

Eliminate the stress of chasing receipts and gain complete visibility into your corporate spending. Gorilla Expense is the one-stop expense management solution for modern businesses.

So, if you feel your company could use the ease and speed of having an automated, paperless, intuitive expense management solutioncontact our expense management experts at Gorilla Expense. To learn more, visit our expense reporting best practices blog

 

By Gorilla Expense, www.gorillaexpense.com

 

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

89