Travelling for work is something that most of us generally do at some point of time or the other. And while you have been travelling it does become important to have a track record of each and every expense that is made, so that you could actually account for your spending and receiving proper reimbursement. Given below are the 7 major ideas and strategies that would help you manage the travel expense management reports of your organization.
Educating your employees: Have your employees provided with proper training on all the expense reporting methods, makings sure that they are given a copy of your expense policy and guidelines, including a new training. Your employees here need to be informed that each and every business expense that they make is a direct cost for the organization they have been working for and should act prudently. Say for example if your business organization has been receiving a discount on the rental car company, then the employee here should make each and every effort to employ the service before others. The same concept could then be applied for the airfare tickets, hotel rates and the last but not the least meals.
Saving the trees: While you are getting rid of the paper expense management reports, try getting rid of all your paper receipts as well. If you have receipts that could be scanned a capability that has been involved in your mobile, then your paper trial ends at the point of your submission, simplifying both processing and record keeping.
Get your travel expense reports in a timely manner: Behind each and every initial cost of travelling, there is the lagging cost of an unorganized travel. Your messy expense management reports would here eat up your time for each and every thing involved. So make sure your team is provided with better tools that would help them to process the expenses as they go to the option provided go to create better expense management report.
Scout the local scenes: When your team members have been looking out for variety of options, then review the local dining and entertainment scene in order to get a better knowledge of how much you could budget. So find restaurants that would turn out to be much more affordable, and incase trips are being spread over the weekends then try and find the best night life options. Say for example an organization who generally seeks for employees in New York City could recommend that they visit high line park, a popular tourist park that is generally free.
Approve them from any location: Try and simplify the approval of all your expense reports by allowing managers to review the submitted reports on computers or mobiles phones, allowing them for a closer scrutiny and faster processing.
Using spreadsheets: If your business organization has been running a tight cash flow you would here then be opting for using spreadsheets for expense reporting. While not the best choice it could be effective enough if done diligently. You could here have your template customized building your own spreadsheets. Employees here should lock certain fields so that the employees cannot change them once they are done with it, creating a protocol naming such as John Williams expense management reports. This would here again create a uniform end product having things going smoothly.
Making it easy enough to identify the violations: Highlight unusual or the out of range expenditures would allow the administrators to manage things by exception. Identifying these expenses the reviewers could spot out the address potential policy violations.
Though these tips are simple enough but provide a great method for tracking down the expenses while travelling for work. So have more tips from managing the travel budget at your business. Then do leave your comments below.
Melissa Patterson is a freelancer and has experience of over 5 years in expense and travel management software. She has in-depth knowledge about managing travel and different type of expenses incurred in business. She writes about travel and expense management system as a freelancer.