Anyone who has operated a small business is familiar with the challenge of maintaining a roster of receipts for travel expenses or other issues. No matter how careful you are to ensure that every transaction is adequately captured, paper receipts always seem to sprout up.
Expense reports – and audits – benefit from multiple sources of evidence when it’s time to square line items away. That means that, as much as anyone would like to, you can’t simply banish receipts to the waste bin.
Using the right software, expense reports no longer need to have holes poked into them by missing receipts. It’s finally possible to tame receipts and put them in their place by using complete receipt imaging.
Receipt Imaging Is A Convenient Step Toward Complete Document Control
Every version of our landmark ExpensePoint software includes receipt imaging. These images are crisp, crystal clear, and highly portable – so you will never have to have any unanswered questions about expenses.
Receipt imaging is especially useful when you need to reconcile costs related to travel. Business costs in travel can range from the major to the mundane, with various forms of transportation and a slew of meals. This way, it is impossible to lose important data.
With receipt imaging to support completely accurate travel expense reports, you are one step closer to a paperless reality for your office. You can do away with file folders and cabinets full of receipts that “may” be necessary for future reimbursements or audits.
Protect Yourself Through Multiple Options For Disseminating Data
Global travel reveals that there is a wide variety of telecommunication hardware and software still in use around the world. While the fax machine has started to disappear in Canada, the UK, and the U.S., it is still very popular in many Asian countries, for example.
Even in fully industrialised markets, you will find that some documents have to be disseminated by fax to meet reporting and compliance requirements. In some situations, receipts – as they relate to travel expenses – might be among them.
Burnish your expense reports by ensuring your data is available by upload, fax, and email, and accessible throughout the entire workflow process. This will make it even easier for you to spot discrepancies.
There was a time when paper receipts were a scourge, but they needn’t be so any longer. New technology means you can close that nagging hole in your compliance armor.