It’s the end of the month (again), which means a roundup of expense claims for many employees, submitting the claims and locating the lost receipts - which can often cause further delays and means missing the batch process of salaries and expense payments. In these circumstances, the expenses will go unclaimed for another month, and as the months fly by, the likelihood of getting the claims in is slim!
For the finance team, there are further implications; chasing those expenses, matching up receipts, establishing reclaimable VAT, filtering out the rechargeable expenses, ploughing through credit card statements to match up expenses, checking and validating mileage claims, and finally processing and inputting all this data into spreadsheets to produce some kind of readable reports for management.
This monthly process summarises the nightmare faced by so many employees and finance teams, which has been generated by inadequate systems, which may have worked well years ago, but are no longer equipped to handle the pace today. Unfortunately, this process has also become the norm, and many are unaware that there is a far simpler and less time-consuming way to manage expenses, which won’t strike fear whenever month end approaches.
MyExpensesOnline is here to help…….
The simple expense solution which will save time and money for employees and finance teams alike.
· Receipts can be photographed by employees using mobile phones, and then binned
· Claims can be made anytime and anywhere
· Limits and authorisation levels are set for each employee
· MEO will automatically calculate reclaimable VAT
· The Finance Team can review expenses without trawling through a paper mountain
· Employees can monitor their claims, right through to payment
· Reports are easily available, for monitoring where the money is being spent.
With so many time and cost saving benefits, an automated expense solution can solve many of the problems with a manual process. Contact a member of our team to find out more.