News & Views from MyExpensesOnline

How to Avoid the Pre-Christmas Mass Expense Claiming!

A common issue we see with manual expense claiming is the tendency of employees to save up their expense claims throughout the year, and then submit them all just before Christmas.  

 

Whereas this might be a clever savings scheme for the employee, it can be a nightmare for your finance team, who are presented with hundreds of claims forms or spreadsheet claims all in one go, and then must begin the process of checking these claims 

 

Not only that, but at a time when employees are taking annual leave, from a cashflow point of view, this quickly becomes a huge expense for your company. A huge expense that you could do without! 

 

So, what is the best way to prevent this? Is there a system which can deter this culture, and promote even numbers of expense claims being made throughout the year? 

 

MyExpensesOnline strives to provide a system, which promotes an honest and fair culture when it comes to expense claiming. Written policy is enforced within the system, meaning that you can set limits for claims being made. It could be that you choose to require all claims submitted to be no more than 2 months old, as an example. An enforcement such as this, would prevent claims older than this from being submitted, and would encourage your employees to submit their expenses in time, not all at once! 

 

Perhaps you feel that you could benefit from having your expenses policy enforced with set time frame, or it could be that there are other areas of your expenses policy which are currently very difficult to enforce? The situation might even be that employees aren’t even aware of your expenses policy and an automated expense procedure could provide much needed clarity? 

 

There are so many ways that MyExpensesOnline could assist you with managing expenses. Speak to a member of our team to find out how.