The first scenario:
The accountant receives an expense report and begins going through the expenses item-by-item, only to find that receipts or invoices for several of the items are not attached to the report. The accountant must then contact the employee that submitted the report, investigate as to why receipts or invoices were not attached, and then wait while the employee tracks down the documentation, or finds a suitable substitute.
The second scenario:
The accountant approves the expense report and forwards it to the finance team or accounts payable. Days later, the accountant requests the expense report back to double-check an item or to compile a report only to find that the receipts have gone missing.
There is a very easy way to solve this problem and save your business money lost to wasted time and duplicated effort: automated expense report systems with receipt imaging systems.
Scanners have been around for decades, but they do not address the fundamental problem of lost receipts: the time lapse between the creation of the receipt and the submission of the expense report affords your employees too many opportunities to lose a small piece of paper.
With receipt imaging systems built into expense report software, your employees can simply take a picture of the receipt with their mobile phones immediately or soon after they complete the transaction. Those receipt images can be effortlessly linked to the appropriate expense reports and uploaded directly to servers, where they will stay forever.
Furthermore, the accountant reviewing the expense reports can decline an expense record without proper receipts within a matter of minutes, giving employees an opportunity to obtain receipts while they are still on the business trip.
If your employees are submitting expense reports without lost receipts, it could be keeping your accounting department tied up and wasting money. Investing in expense report software with mobile receipt imaging can help you prevent wasted time and money.