What Happens When Good Travel Expenses Go Bad?

What Happens When Good Travel Expenses Go Bad?

What Happens When Good Travel Expenses Go Bad?Companies should be able to trust their employees, even when traveling is a large part of the job description. However, issues with travel expenses can lead to decisive actions that lead to the loss of employment. For this reason, accuracy in documentation also means that there are less grey areas that can come under the scrutiny of the financial department.

Unfortunately, not all employees who are caught falsifying receipts are actually doing this with malicious intent. While it is true that the major consistent losses that companies experience are as a result of padding reimbursement claims for travel, sometimes these infractions are a result of an inefficient system for handling expenses and reports on spending.

 

Traditional Record Keeping

It is still a very common practice for employees to retain all receipts that are related to travel expenses in order to submit these for verification. However, in the modern age, many business travelers have become accustomed to relying upon charge statements in order to provide this verification. As a result, actual receipts may be lost over the course of travel, and the employee is left trying to figure out how to recoup the funds that were spent on the trip.

When this happens, it is extremely prevalent for employees to falsify the receipts in order to submit them for travel expenses. This may still be an honest and fairly accurate accounting of the funds that were actually utilized, but the problem in this situation arises from the fact that the documents were forged.

 

The New Streamline

The incorporation of expense management software into any company results in a better way for administration and employees to handle these travel expenses. With remote access features, receipt capture and transmission options, and credit card integration, travelers can have greater assurance that their expenses are truly verifiable and that documentation is immediately present.