How businesses can improve travel expenses management

1
TIPS FOR BETTER
TRAVEL EXPENSES
INVOCING
Often employees have to travel for business
purposes. At times, managers incur expenses when
entertaining company clients. Money spent on
dinners with clients, air tickets, accommodation,
etc are all examples of travel and entertainment
expenses that businesses may incur. Often
employees pay for such expenses out of pocket.
Such expenses are generally tax deductible as
long as proper receipts and invoices are
maintained. Mentioned below are some challenges
and tips with regards to expense management
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2
BUDGETING
Businesses should be able to budget for travel
and entertainment expenses in the coming year.
Thus, businesses should invest in comprehensive
IT solutions that will give teams better data
visibility and more control over travel costs and
expenses.
3
PROMPT REIMBURSEMENTS
Employees are dissatisfied when reimbursements
are delayed. Instead of sending paper invoices
and receipts, employees should have the ability
to scan invoices or take a picture of them and
send them to the finance department. This will
make archival easier and reduce the time it takes
for invoices to reach the appropriate department.
4
IMPROVING TRAVEL EXPENSES INVOICE MANAGEMENT
The first step to improving expense management is
to have a clear and formal expense management
policy. Businesses should automate processes
wherever possible. Using corporate credit cards
can make management easier. The management system
should suit employees that are on the move.
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