The use of electronic records has greatly increased productivity at the workplace. Having information easily and quickly accessible in an electronic spreadsheet or database has revolutionized the modern workplace. However, tracking employee expenses, which typically requires submitting paper receipts, has remained a time-intensive stumbling block for many businesses. The rapid adaptation of mobile technology and Cloud-based data storage has finally created a solution to this problem – online expense management apps that link directly to databases.
Research the online employee expense management apps to determine which one best meets your needs. Features and price ranges vary dramatically, from just a few dollars for apps designed for small businesses to thousands of dollars for customized enterprise level software integrated with a proprietary company accounting database.
Set up the online employee expense management system on your workplace network. Most basic systems for small businesses are simple installations, but it is always a good idea to consult with an IT professional when installing new software in a network. More complex expense tracking applications designed for larger businesses are typically installed and set up by employees of the vendor working with company IT staff.
Set up individual employee accounts to populate the new employee expense management system. After all the accounts are set up, employees will be able to purchase items and services with company credit cards and an electronic receipt will automatically be sent to the central database. Employees can also submit a scanned copy of a receipt using their smartphone. This means that not only do employees not have to worry about saving paper receipts, but bookkeepers and accountants no longer have to laboriously enter each individual receipt into the database.
Conduct a training for all employees in the use of the new employee expense management system. Vendors might assist with the training for enterprise-level apps.
Provide all employees with the employee expense management app for their smartphone.