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Housekeeping guide to tune-up webexpenses for 2018

19th Dec 2017
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Webexpenses provides award-winning, cloud-based software.

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The change of year is the best time to do some housekeeping and make sure your expense system is fighting fit and ready for the year ahead.

Here are the top five tips you should follow to make sure your expense system is tuned-up for 2018:

1. Get Christmas expenses in early

One thing you should really try to avoid is starting 2018 with a daunting backlog of expenses that needs catching up with. Make sure to remind all employees to submit any outstanding expense costs before leaving for the Christmas break. It will save you having to deal with an unnecessary surge of work.

2. Tidy up expense categories

The categorization of expenses tends to get ‘messy’ over time. Tidying up the different reimbursement costs within their appropriate categories can help avoid future headaches, especially when it comes to supplying HMRC with tax information. This categorisation task can be easily done with webexpenses.

3. Smartphone app clear out

Remove any unused files stored via your webexpenses’ smartphone app. Delete duplicate or unattached images of receipts to free up storage. It’s also the best time to make sure that employers have the most recent version of the webexpenses app on their devices.

4. Review automated checks

Webexpenses automatically checks if costs breach any limits set by the finance team. This feature can prevent out-of-policy claims from being made and provide alerts for suspicious costs. Take the time to review these limits to find the optimal set of checks and notifications.

5. Balance petty cash accounts

Christmas is a time when petty cash expenses are common because companies purchase various festive items. Make sure that these expenses are up to date and the imprest floats have been balanced. Webexpenses provides an easy way to do this, as reimbursements are tracked digitally.

These simple tasks will help you avoid any post new year hangovers!

If your business is not yet using webexpenses, discover the benefits of switching to a smarter way of managing expenses by taking it for a demo here.