Keeping Track of Expenses for Remote Working Employees
–This article was last updated on 8 October 2021-
Keeping track of expenses and ensuring that they are submitted, reviewed and approved in a timely manner can be a tough job at the best of times; one thing that can make it even more difficult is when your company employs a large number of employees working remotely.
Perhaps your business is copywriting, and writers work remotely from home – or maybe you employ workers who hotdesk in offices around the country. In the 21st Century, plenty of businesses don’t work in such a way that their employees are regularly in the same place – if ever! We shine a light on how you can still keep track of their expenses.
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What Are the Challenges?
In remote working environments, submitting expenses can be difficult for employees and managing them can be difficult for managers. Inefficient processing of expenses can lead to a loss of goodwill and stress for both employee and employer – which is why expense management software is such a good system for remote workers.
How Does it Work?
There’s no need for receipts to be brought or posted into a central location – employees can just scan their receipts using a simple app and upload them wherever they have internet access. The app automatically extracts key data from the receipt, allowing expense claims to be made in seconds.
Rather than forgetting about the claim, losing the receipt and losing out, employees can keep on top of their expenses on a day-by-day basis. Perhaps previously they had submitted expenses once a month – now they’ll be able to submit them daily, as they occur, reducing the likelihood of error or omission.
Once a receipt is uploaded, a manager can approve or deny it. This allows them to see what their remote-working employee is claiming on a regular basis, and flag up any inconsistencies or problems as soon as they spot them – rather than waiting weeks until a huge batch of expenses is submitted.
Not only that, but keeping on top of expenses on a daily basis also ensures that managerial workload is made more achievable – rather than processing many tranches of expenses at a time, they can spend a few minutes each day staying on top of the situation.
Keeping Employees Happy
It’s easy for remote workers to feel less valued or appreciated by the company that they work for than office-based employees. They may not see their line-manager often or benefit from as much social contact with other colleagues. It’s important to ensure that little steps which contribute to employee wellbeing are taken – and expenses is an easy area in which to do this.
If expenses are approved and paid quickly, that employee knows that their needs are being considered – but it’s always worth thinking of other ways to keep remote working employees happy too. Line managers could schedule weekly Skype catch-ups, ensure that remote-workers are invited to social events at the office and keep them in the loop with new developments. All of these steps will help make sure your remote working employees feel happy, secure and appreciated.