Digitisation of expense reports
The digitisation of expense reports has been permitted since a decree dated March 2017. As a result, companies are allowed to save their invoices in digital format. Finally, some good news for Finance departments! This has brought an end to the archiving of receipts for expenses for a period of 10 years (a time period imposed by the tax authorities).
We at Traveldoo offer a simple, efficient solution to manage your employees’ business trips and expenses.
Why digitise expense reports?
Many companies still have to manage the reimbursement of non-digital expense claims. Why is the digitisation of expense reports needed? What is the right attitude to have when it comes to digitising invoices?
Discover the advantages of digitising expense reports for a company and its employees with Traveldoo:
- reduce the error rate when managing expense reports
- save time
- decrease business expenses
- reduce management costs for companies
Digitisation of invoices: saving companies time and money
Printing and storage costs are very expensive for companies, coming in at up to 7 or 8% of the budget allocated for managing business expenses. This being the case, digitisation makes it possible to simplify both administrative procedures and data entry.
Digitising invoices is a boon for financial services and control entities and provides significant time saving for company employees. Thanks to digitisation, an automated process significantly reduces the time allocated to processing expense reimbursement. And finally, expense report digitisation facilitates management and fast error resolution.
During audits, it is easier and simpler to present the requested expense report receipts. So, many errors can be avoided with the digitisation of expense reports. The most commonly encountered errors are:
- loss of expense receipts
- lack of business expense organisation
- alteration of expense claim receipts
- calculation errors
Reduction in expense report costs
The objective behind services such as those offered by Traveldoo is to improve productivity, increase control and reduce the time required to manage business expenses and expense reports for both the employee and the company.
Find out about our business expense management solution .
Cost reduction is directly attributable to digitisation solutions. The digitisation of expense report receipts can now be done in just a few clicks. The same applies to their entry into the company’s accounting system.
Digitise expense reports: which rules should be followed?
It’s worth noting that the switch to all-digital means that the company must certify its digitisation system as compliant with tax guidelines. The employer must take into account the fact that digitising expense reports is not instinctive for everyone. Therefore, the employer must take the necessary measures to ensure reliable change management is followed. It’s the employer’s duty to ensure that the accounting department has the means to ensure the archiving of expense reports for the next ten years.
The first challenge of digitising expense reports is to satisfy company administrative requirements. This implies guaranteeing the reliability of the digital expense report compared to the traditional expense report.
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