Getting on top of employee expenses
Do you have lots of employees that submit expense claims each month to you?
Is it starting to become a full-time job to manage them?
There are a number of ways that you can get on top of your employee expenses that make it quicker and easier for you to have a handle on your business finances at any given point. Here are some ideas for you to take a look through.
Fuel Card Services – these services give you a Fuel Card for every employee that drives a work vehicle. This means that instead of them bringing in receipts and expenses claims and then waiting for you to give them the money, the fuel is invoiced directly to the company via the card and the employee simply has to bring you the receipt.
Software – there are many pieces of software such as cloud accounting that allows you to set up users for your employees. They can take photographs of any receipts that they have and submit their expense claims a lot quicker. This means that your finance team can then process them in a more efficient way and with all the evidence that they need to hand, in the accounting system.
Contracts – if you have the need for mobile phones for your employees or work equipment, rather than have them put in an expense claim, set up contracts with suppliers. This might mean working with a telecoms company to provide you with mobile phones froyo employees and bills that are then sent directly to your finance team.