It is a very big task for any finance team, to check
through and approve staff expenses. In SME’s it is productive to train staff on
what makes a compliant receipt, so that there is less cause for rejection of
4 points of reference for any expense claim accompanied
by a receipt.
the receipt present, and actually a receipt?
This might sound like an
absolute basic requirement, but in practice, there are many expense claims made
either without a receipt, or with alternative evidence (such as a picture of a
menu or a credit card receipt!)
the receipt legible?
Is the receipt readable,
without coffee/porridge or anything else all over it! If the amounts can’t be
made out, the receipt can be declined.
the receipt provided cover the basics?
Name & address
of items paid for, with description
there VAT information for reclaiming?
Rate charged for each item
breakdown (invoices over £250)
A good expense management system will aid the collection
of this supporting data and even contain built in rules for denying claims over
certain levels and so on. If you don’t already use an automated system, then
now is the time to get one, allowing you to speed up the entire process.
Still, if you have already made the move into automated
expenses, and are still filled with dread at the thought of receipt checking,
then perhaps a receipt validation service is for you? Allow us to check the
receipts for you!
to find out more about the services we offer.