Expense Reports
Expense reports are considered to be one of the most widely used documents by enterprises and organizations around the world.
Everyday businesses need to either travel or make a special payment to an employee or contractor. Sometimes an organization's management requires business trips to be pre-authorized, provide progressive approval limits (to management), provide a limit for paper receipts, or limit the approval of any high-price item as part of your expense policy. In addition to the organizational complexities involved in creating expense reports, governments further exacerbate the problem by providing special expense rates for cities within the United States or around the globe.
The United States Internal Revenue Service and General Services Administration provide guidelines for per Diem rates within specific US cities, and within specific time periods. When all of these business scenarios and requirements combine, one might wonder how accounts payable departments process these expense reports correctly and efficiently.
One potential solution involves a logistical nightmare, utilizing an enormous accounting department with a large accounts payable workload; additionally, traveling employees spend a great deal of time filing a very costly expense report.
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