Expense Reimbursement Issues New and Old
Please see below for additional instructions and information regarding this program.
In AP Now's recent Travel & Entertainment survey, respondents identified their most pressing problems regarding employee expense report handling. Two clear factors emerged. First, the traditional expense reporting handling problems continue with no sign of improvement. Simultaneously, there is an emergence of new issues, sometimes related to new technology (think Uber). Only now are companies starting to identify these issues and create best practice policies around them.
That's why we created this session. In it, we will provide practical, implementable advice on how to deal with:
•Employees who submit their expense reports late
•Manager who approve non-complaint expenses
•Slow manager approvals
•Extravagant or inappropriate T&E expenses
•Employee misuse of company card
•Employees who submit the same expense twice
•Employees who do not use approved Vendors
•Unused airline tickets
•Loyalty reward points
•Use of and accounting for new services such as Uber, Lyft, Airbnb etc.
•Create a best practice policy to address use of Uber, Lyft etc.
•Reduce the number of employees submitting expense reports late
•Design a policy to improve manager accountability for expense report approvals
•Build a policy that deals with employee misuse or abuse of the travel and entertainment policy
•Incentivize managers to approve in a more timely and appropriate manner
About Mary Schaeffer 00:00:18
Why the Emphasis on Expense Reimbursements? 00:02:43
Why You May Not Be Able to Fix Everything 00:04:34
The Problems: According to You! 00:05:55
You’re Not Alone: Problems Everywhere 00:08:15
And the New Problem 00:08:44
Problems Caused the Traveler 00:10:44
Missing Receipts 00:10:50
Employees Who Submit Their Expense Reports Late 00:11:47
Handling the Laggards 00:14:52
Employee Misuse of Company Card 00:16:32
The Looming Problem 00:18:06
Dealing with Card Misuse 00:00:18:59
Employees Who Submit the Same Expense Twice 00:20:24
Dealing with One Expense, Multiple Reimbursement Requests 00:22:14
Employees Who Do Not Use Approved Vendors 00:23:45
When Approved vendors Aren’t Used 00:24:28
Manager Created Issues 00:25:50
Manager Who Approve Non-Compliant Expenses 00:25:56
The Reality 00:26:42
Little Downside 00:27:13
Changing Behavior 00:27:32
Extravagant or Inappropriate T&E Expenses 00:28:25
Where the Problem Lies 00:29:29
Addressing the Problem 00:30:26
Other Issues 00:31:56
Changing Technology 00:32:04
Unused Airline Tickets 00:33:02
What To Do With Expiring Travel Tickets 00:34:15
Tracking Unused Tickets 00:35:34
On the Bright Side 00:35:46
Whittling Down the Issues 00:36:21
Disruptive Services 00:36:53
Policy Updates: Uber, AirBnB, Lyft, etc. 00:37:04
Ride Hailings/Sharing/Peer2Peer Sharing 00:37:42
Policy for New Services 00:38:24
Policy Inclusions/Exclusions 00:40:39
From Harvard’s Policy 00:42:49
Hotels: AirBnB 00:43:33
Potential News Issues 00:44:42
Potential News Issue: Motorized Scooters 00:46:02
Issues to Address: Motorized Scooters 00:47:39, 00:47:55
The New Issue 00:49:09
AP Now Survey: Late Feb/Early March 00:49:13
Problem #1 00:50:09
Quarantine Life Stats 00:51:10
Remote Working Expenses 00:51:45
Remote Working: Reimbursements When You Can’t Print Checks 00:52:59
Remote Working 00:54:37
Concluding Thoughts 00:56:22, 00:56:37
Thank You/Questions/Comments 00:57:56
Presentation Closing 00:58:39
- Expenditure 00:11:10
- Expense Reimbursement 00:03:52
- Expense Report 00:06:31
- Fringe Benefits 00:18:37
Expenditure: An expenditure is money spent on something. Expenditure is often used when people are talking about budgets.
Expense Reimbursement: Expense reimbursement is a method for paying employees back when they spend their own money on business-related expenses. These expenses generally occur when an employee is traveling for business but can occur in other work-related situations. (www.thebalancecareers.com)
Expense Report: A report that tracks expenses incurred during the course of performing necessary job functions. Examples include charges for gas, meals, parking or lodging. If your employees spend a lot of money in cash, you need to make sure you have them list these expenditures on an expense report form.
Fringe Benefits: An extra benefit supplementing an employee's salary, for example, a company car, subsidized meals, health insurance, etc.
Mary S. Schaeffer is the founder of AP Now, a B2B organization focused on creating business intelligence around the accounts payable and payment functions. She has written 18 business books and is a frequent and popular speaker at both online and live events. Schaeffer has created a number of CPE self-study courses, customized training and online training events. She is the developer of the Accounts Payable Best Practice Certificate program. Previously she held positions as an Assistant Treasure... View Full Profile
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