During the course of business travel certain expenses are covered such as food, lodging and transportation. Most are covered under an expense account. Keeping track of all expenses is crucial to receiving money in return for out-of-pocket expenses. Most business travel expenses are reported from receipts. Has your company considered utilizing technology solutions to account for expenditures? Digital scanning and mobile devices aren’t new, but are viable options to retaining records.
Accounting Choice Tip #1: Scan Receipts Digitally
For business men and women who pay for business travel expenses up-front, there is nothing worse than misplacing receipts when the time comes to request repayment. Without physical documentation, business travel expenses cannot be reimbursed. Two digital options are available for saving business travel receipts – digital scanning and mobile saving.
Digital scanning involves placing a business travel receipt on a flat bed scanner and saving a digital image to a personal computer. Smaller, hand-held devices are also available for use with receipts. It is important to use digital scanning devices with software that keeps track of receipts and allows the business traveler to search receipts based on tags or file names.
Accounting Choice Tip #2: Use Mobile Phones
Mobile phones can be used to save business travel receipts as an additional back-up source. Most mobile phones come with integrated cameras and multimedia message technology or email. Business travelers simply have to take a picture of the receipt close enough to show the amount spent, date and business name. This picture can then be sent to a business email or to the human resource department for repayment.
Accounting Choice Tip #3: Use Security
Despite being easier and faster, security is always a question when it comes to saving business travel receipts on a personal computer or mobile phone. Wireless internet with public access allows your mobile device to be vulnerable to online hackers and viruses. Password protection should be used to secure mobile phones and personal or business computers to ensure no one can access the data without consent.
Accounting measures must be in place during any business trip. The viability of your company depends on proper processes and procedures. Utilize these tips to ensure accurate accounting of business travel receipts.