Nail Down An Expense Reporting Policy

Nail Down An Expense Reporting Policy

Nail Down An Expense Reporting PolicyGiving an employee an expense account can be a leap of faith. You trust them not to go spending a few thousand dollars of the company’s money on a meal at the Ritz. But you also want to give your employees leeway when it comes to spending because they may need to spend a little money in order to make the company even more money. You can settle these issues right off the bat with a quality expense policy. And it can all be helped with solid expense report software.

Employees work a lot better when they feel that they are trusted members of the team. It emboldens them to make solid decisions. It also gives them a bit of ownership in the company. They will take actions for the benefit of a company when they feel that they are a part of the team.

And you want to trust them. You want to feel like you have made the right decisions and hired the right person. You want to feel like you don’t need to police them with too much oversight on their expense account.

The truth of the matter is that most people will do the right thing. But they might not know just how to make expense reports the right way. And if they have any uncertainty then their emboldened attitude will suffer. Their work will suffer.

But you can avoid all of that with a solid expense report policy and the use of a quality expense report software program. You want to give each and every employee a standard list of expectations when it comes to expense reports and using the expense report software. It is important to note that this expense reporting protocol should be the same across the board for every employee of the company.

Include a statement of purpose for the instructions. Let each and every employee know that they are respected and tell them that this list of expectations is to clear up any hindering confusion. Then segue into a list of company expectations and the fact that each employee is expected to adhere to the policy. It is also a good time to mention that each employee will be expected to use the new expense report software.

Then it is a good idea to go through a list of expected expenses. Of course, there are the big 3 – Travel, Accommodations, and Food. It is also a good idea to list expectations for entertainment and other expenses. Make each section as clear as possible so that each employee knows just how to behave with an expense account.

Now it is time to make sure everyone is one the same page when it comes to using the expense report software. Hold a training session. But good expense report software explains itself; it is so easy to use that everyone will instinctively use it correctly. You won’t have to spend much time explaining it. But the expense report software will help embolden your employee, just like you want.