I will admit that, in the past, my submitted expense reports were a bit lacking when it came to details. For example, I was never a big fan of providing a business?the reason why I expensed a lonely lunch while traveling. “To remove hunger” I once wrote under “Expense Purpose.” Needless to say, that report got kicked back, and I had to wait a bit longer for my reimbursement.
Knowing Where an Expense Report Stands Prompt reimbursement is important if you travel on business. And being able to forecast when that cash would flow back to me was sometimes hardback when I had to submit a spreadsheet expense report with my actual receipts. I never knew if a report was approved, needed more detail (a likely outcome) or was denied (as with the “hunger” report noted above.) Often times, I wouldn’t find out if a report needed more information until I was back in the office and saw someone from our AP department. That meant a few things to me:
- Travel expenses that I paid out of my pocket would be delayed in getting back into my pocket.
- Credit card charges might not be paid on time-“Love those late fees!”
- My corporate card would get closer or over the spending limit-?Really didn’t?t enjoy having my card rejected when trying to pay for a client lunch.?
I can manage my own cash flow a lot better now that my company moved to an online expense report software. I get emails whenever an expense report I submitted needs more information to get approved. I can launch the SutiExpense app on my smartphone, make the needed changes and re-submit. This gets money back in my pocket more quickly, has eliminated the threat of late fees and I haven’t had an embarrassing moment in front of the client since! Well, not because of the credit card, at least…
Is online expense reporting making your life easier on the road? In what way? Tell us a story about it!