Manage Business Expense Conversions Using Online Expense Software

Employees file an expense report for reimbursement of money spent conducting business on behalf of the companies for which they are workingThe expenses generally include air/train fare, hotel accommodations, food expenditures and other travel-related

PA, PA (prHWY.com) February 12, 2013 - PA, Feb 12, 2013 - Employees file an expense report for reimbursement of money spent conducting business on behalf of the companies for which they are workingThe expenses generally include air/train fare, hotel accommodations, food expenditures and other travel-related expenses. Often, the employees take too much time for the submission of expense report, mostly because of the time it takes to create and submit reports. The process of expense reporting can be made simplified through automation with web-based expense report management software.
Travel Expense Reporting -With these programs, the employee submits the report online attaching receipts directly to the report and sending it to the approval authority. More and more companies are using automation so that employees can avoid the errors involved in manual entry and submission of reports. The fast submission of expense report leads to quick reimbursement, and provides companies with completevisibility and control over compliance to spending policies. As reimbursement cycles are shortened, employees' motivation and thereby operational efficiency increases.
Every organization should have a standard format of employee expense report form that should be easy for employees to use. However, as per a survey conducted by one research organization, travel and expense spending can account for 8 - 12 percent of company spending. So the employee travel reimbursement expenditure occupies a vital role in the total expenses after salaries. Thus, most of the companies are taking a hard look at employee travel expenses. They have begun to implement expense report management software for reducing and analyzing travel expenses. This not only reduces overall costs, but also enables companies to negotiate discounted rates with travel supplies such as airline companies and hotels.
Travel Expense Management - Companies should insist on timely, accurate and honest expense reports. Every employee has to follow all the rules and regulations of the travel expense reimbursement policy of the organization, while furnishing all the expense details of his travel along with documentation. After submission of the report, the employee has to obtain approval from the concerned Approval Department of the company. Then only the Finance Department grants funds for reimbursement. Also, it is the ethical responsibility of the employee to return the excess amount he has received to his employer.
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Travel Expense Reporting- ExpenseWatch.com delivers spend management products & services for businesses that automate manual, time consuming paper-based processes for company purchases, payable invoices and expense reports, while enabling visibility and control of all company spending.
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