Coming Soon
Subscription Marketplace - Buy and sell subscription products and services
1,211 views
in Articles by
How to prepare business expense reports?

Please log in or register to reply to this topic.

1 reply

by
Business Expense Reports are the records of all the expenses incurred by the employees, top level to supervisory level, during their business visits on behalf of the companies. For this purpose, the business organizations should have standard business expense report forms. Nowadays, most of the companies are implementing web-based expense report software like Expense Management Automation (EMA), which automates and quickens the submission, approval and reimbursement processes of the business expense reports.

According to Aberdeen’s research group, EMA helps the business organization in reducing the time required for filling up the expense report by 60%, in decreasing the cost of processing a business expense report by 80% and also in cutting the time required for meeting the claim by 90%. This particular software is supplied by a large number of companies, namely Acceleron, PeopleSoft, SAP, Gelco, Oracle, etc. This software integrates all the processes starting from completing the expense report to receipt processing.

It is true that the employees’ expenses during their business visits occupy a vital role in the total expenses of the business organizations after salaries. According to one survey conducted by a popular Boston-based research organization, it is reported that for every five dollars a company spends, one dollar will be towards employee travel expenses. So companies are taking a very hard look at these expenses. It is observed that most of the business executives are relying on the travel agencies and credit card companies like American Express and Visa International for travel arrangements like ticket booking, hotel accommodations, etc. But, instead, if they make all these arrangements online, there would be a significant cost savings. As per one research survey, such online activity can cut costs by 20 percent. Therefore, online systems are a cost-effective means of controlling travel-related expenses. For trimming the costs, some companies committing to employee-friendly travel policies with their favorite carriers, who will offer discount rates.

Related topics

0 replies 1,337 views
posted in Articles by HairySeahorse
0 replies 818 views
posted in Articles by Cybora
0 replies 1,698 views
posted in Articles by AmazingKitty
0 replies 2,120 views
0 replies 1,707 views
posted in Articles by Scorpeon
0 replies 1,720 views
posted in Articles by nicejone
0 replies 1,252 views
0 replies 1,214 views
posted in Articles by TwinNut
0 replies 816 views
posted in Articles by AfternoonFay
0 replies 788 views
posted in Articles by Octopixy
0 replies 1,024 views
posted in Articles by ShowDolphin
0 replies 2,128 views
posted in Articles by OpinionOwl
0 replies 1,972 views
posted in Articles by Mosquiche
0 replies 878 views
posted in Articles by Sassassin
0 replies 873 views
posted in Articles by UncleRhino
0 replies 1,492 views
0 replies 895 views
0 replies 1,113 views
posted in Articles by MammothMoth
0 replies 2,108 views
posted in Articles by OpinionOwl
Connect with us:
...