Keeping track of monthly expense reports can be a real hassle. Some departments end up spending more than others, and sometimes there are individuals who go above their quotas. The accounting department, on the other hand, may find it hard to deal with piles of receipts and spreadsheets every day. Knowing the spending patterns, however, is necessary for many reasons.

1. The Impact of Monitoring
Corporate Expense Reports
Regularly
Tanner Co
36 S State St #600
City Creek Center
Salt Lake City, UT 84111
801-532-7444

2. Keeping track of monthly expense reports can be a real hassle. Some departments end
up spending more than others, and sometimes there are individuals who go above their
quotas. The accounting department, on the other hand, may find it hard to deal with
piles of receipts and spreadsheets every day. Knowing the spending patterns, however,
is necessary for many reasons.
Save Time and Reduce Stress
Submitting expense reports on time is important to make hunting down those receipts
easier and quicker. Doing so allows company owners to determine where the money
goes. In today’s busy and competitive business world, every dollar counts.
To strengthen the message that monitoring corporate expense reports is critical to the
success of the business, employers must dedicate a section of the employee handbook
to strict submission of monthly expense reports.

3. Deter Frivolous Spending
An expense report can help pinpoint precisely what employees and departments are doing.
As a matter of fact, it can break down monthly costs so that a company has one less
problem. This will prevent one from overspending and keep the budget intact. The
common signs that an employee is abusing expense reports are double billing,
overcharging the company card, and inflating acceptable expenses.
To make creating a detailed corporate expense report easy, company owners can use a
safe and reliable web-based system. This can make the reimbursement of a trip or meal
simple and fast.
As an article in Entrepreneur puts it: “Small companies can benefit by injecting more
process and automation into their expense-management practice. Doing so not only can
make life easier for the accounting department and employees, but avoids needless
overspending and can provide valuable insight into spending patterns that can save money
later.”
Keeping an eye on expense data should be a top business priority. When there is an
automated expense management system and strict policies in place, business owners can
lower the risk of becoming a victim of fraud. It’s important to understand the benefits and
downsides of a corporate expense report.

4. Resources:
http://www.tannerco.com
http://www.entrepreneur.com/article/238748
http://www.forbes.com/sites/investopedia/2013/05/16/how-to-get-the-most-out-of-
hiring-an-accountant/