Your accountants are educated professionals and you pay them like it. In fact, the average accountant earns nearly $75,000 per year. Accountants shouldn’t be wasting company time tracking down paper receipts and performing menial tasks such as data entry.
Accountants waste dozens of hours each month reconciling discrepancies in the expense reports and collected data, reviewing paper expense reports and receipts for errors and policy violations, and trying to obtain proper documentation from the employees filling out the expense reports.
Not only is this a poor use of your highly-paid talent, the tedious work eventually affects the morale of your accounting staff.
Your accountants are best used when they can efficiently process expense reports quickly and accurately so that your company has access to up to the minute expense data.
Using Automation To Increase Efficiency
With automated expense report software, your accountants no longer have to manually review expense reports to identify individual policy violations. Automated expense report software can be configured with your company’s specific expense policies so that any line item that represents a policy violation is automatically flagged for your accountants to review.
Similarly, automated expense report software can require your employees to attach receipt images to their expense reports before they are allowed to complete the submission process. What this means for accountants is that they no longer have to spend time tracking down paper receipts from employees who submit reports without them or worry about losing paper receipts.
By simplifying these tasks for accountants with automated expense report software, they can focus on getting expense reports processed as quickly as possible, so they can go back to keeping track of the myriad of other records they need to track to keep your business running smoothly.
Most importantly, accountants no longer need to manually enter expense report data into databases or spreadsheets because the data is automatically updated when the expense reports are filed. Your company can access this valuable expense data to gain insights into your business.