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Press Release

Designing Your Expense Approval Process

San Francisco United States
Categories: Non-Engineering / United States Tags:
permission management system

The bigger a company is, the more complicated the expense approval process becomes. Keeping track of all the expenses, making sure they’re approved, paying employees back, and all of the other processes involved can be difficult to organize and manage without help. Software can help, but it’s important to have an expense approval process in place as well.

Developing an Effective Expense Approval Process

There are several steps you should take to ensure your expense approval process is simple and easy for employees to understand. This means putting policies in place that need to be followed and implementing different processes to streamline things. Here are some things you can do to make things easier:

Receipt Pictures - Use an app to collect pictures of receipts or use digital receipts. This ensures that receipts aren’t lost or damaged before reaching the accounting department.

A Regular Schedule - Set out a timeframe where expenses should be submitted for the month and when they will be paid. This minimizes confusion and reduces the questions employees might have about the process.

Release a Policy Document - Make a clear and concise policy about expenses and send it to all employees. Make sure it lays out all of the steps they need to follow for expenses and reimbursement. This will make sure everyone is on the same page.

Implement Company Credit Cards - Instead of reimbursing employees, you can distribute company cards that are all sent to your accounting system. This takes a lot of the guesswork out of expense management and makes sure that things don’t get lost. Make sure you clearly lay out what the company card can be used for and lay out an approval process for expenses not clearly defined in the policy.

Give Your Employees for Tools with a Permission Management System

Another way to streamline the expense approval process is by providing your employees with more expense-related tools that help them manage their own company expenses. With a permission management system, you can make sure the right employees have access to the right data and tools to help them organize their expenses and submit them correctly.