What is an online Expenses System?
An online expenses system gives employees the ability to submit expense claims electronically and completely removes any paper from the process.
Traditionally, expense claims consist of a paper claim form and supporting paperwork such as till receipts, invoices, bank statements etc. The receipts are usually stapled or attached using paperclips and are liable to fall off or get separated from the claim form. When the claim has been processed the paperwork then has to be stored or disposed of.
An online system not only eliminates the use of paper but also saves on storage space and time spent filing. A template is used to record details of the expenses claimed and receipts can be scanned or photographed and attached to the file.
Using workflow, all claims are directed to a manager for approval and then sent electronically to the accounts or finance department for processing and payment. An online expenses system is a far more efficient and cost effective way of managing the processes involved in the submission and payment of expenses and is a good investment for any business.
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