Business expenses are something companies of all sizes in all sectors need to process with care. It’s not enough to pay the right amount in good time; there are legal obligations to take into consideration. Each purchase requires a receipt and all receipts need to be archived. If an employee pays the expense out of their own pocket, they’ll need to fill out an expense report to be reimbursed. And all expense reports must be recorded in the company accounts.
Fortunately, you can find modern solutions that do much of the bureaucratic work for you. Here, we look at some good practices to help make expense management a smooth process in your business.