Best Practices for Employee Reimbursements

Using new technology to report and track employee business expenses can be easier and more accurate.

MODERNIZE REPORTING

Instead of using paper to report employee’s expenses you can simplify the process with a virtual expense reporting system that lets employees photograph and submit receipts from an app. This prevents the need for your accounting staff to keep paper files or scan receipts.

ESTABLISH ACCOUNTABILITY

Inform managers and supervisors about the company’s expense policies so they can hold their teams responsible for following them.

To ensure high levels of accountability in this area, give managers an easy way to access to approve submitted expenses on their employees’ expense reports.

TIME IS VITAL

No one wants to pay $1,000 in travel costs out-of-pocket for a business trip and then wait for weeks while those expenses are reviewed, approved, and reimbursed.

To avoid delays, create service-level timeframes that work for both the company and employees. For example, make clear that associates must submit their expense reports by "X" day of the month, with complete required documentation, to receive reimbursement by "Y" day.