What is an Expense Report?
An Expense Report clarifies the reimbursement that will return to remote workers after they use their own money to expense because of job functions. How much, What and When that money will return will by listed in Reimbursement Policy of the company.
The amount of money will be calculated by accountants. The report will be sent to employers and notify to remote workers.
For example, you were sent to go for a business trip.
Most of your expenses on the trip will be tracked in the receipts (by manual or automatic), after you return home from the trip, most the amount of money will be returned to you by the end of the month, or in year taxes.
Expense Report Management is not easy as you think
In fact, most of the Remote Workers suffer from Reimbursement Policy. Because:
- Simply that most of the employees don’t have much money to spend on their own.
- We can’t wait too long until the money back because we need to expense money on other things else.
- It’s hurt the remote workers’ feeling. You help the company to earn profits, then you just need your money back. They delay and then give you the notification that some of our expenses are against the reimbursement policy.
- Last reason, most of remote employees forgot to take the receipt or even report it. It’s a waste of time and headache process.
Finally, time and effort for tracking and making as a report is a waste of time and businesses spend lots of money on it.
Not only from the business’ point of view, it’s also from employees themselves because it is involved many parts of business, remote workers, accountants and business owners, etc.
How can we solve the problem from Expense Report?
In Digital Age, there are such many processes should be automatic. And, expense report is as a typical example.