Managing a business means keeping up with a lot of things – employees, payroll, accounts, product inventory, marketing, compliance, taxes, and more. For many businesses, managing employee expenses is something that has to be dealt with as well. And in a lot of instances it can bring with it some serious headaches and hassles. Just keeping track of employee expense receipts is enough to stress out even the most level-headed business or payroll manager at times. Luckily, keeping track of receipts doesn’t have to be such a huge ordeal.
There are two main ways to keep track of receipts. The first is the traditional method that is done manually. Employees must keep track of their receipts while on the road, and then report them upon the end of a business trip through a manual expenses report. It’s worked for years, obviously, but the fact is that it’s not really the best way to keep up with employee expense accounts. The issue is that a lot of errors can arise – totals may not match up, receipts could be lost, currency exchange rates may be handled wrong, and more. It adds a lot of work to anyone involved in the process.
Today, using expense report programs like ExpensePoint makes a lot more sense. These programs utilise simple to use software programs to keep track of receipts, manage employee travel expenses, and more. They even allow businesses to approve or deny expenses with a single mouse click and then track the expenses on an ongoing basis.
Obviously, using good expense tracking software makes a lot of sense. These programs have everything needed to get results including spreadsheets, templates, claim forms, report displays, and more all built into the program for easy use.
It’s pretty apparent that systems like ExpensePoint offer a better way to keep track of receipts and expense forms, but there’s one more thing to remember as well. To maximise the results of a good online expense tracking program you’ll want to make sure you use an online program. These systems let your employees manage their expenses and let you review them from anywhere – not just a single computer in the office. You can even upload apps to mobile phones or tablets and use them to track expenses while employees use them to upload expense forms while on the go.
You don’t have to stick with the old fashioned way of doing things. Online software programs can simplify your business in a big way, and will make it easy to keep up with all of your receipts.