Church leaders in charge of tracking and resolving the organization’s expenses have a lot of factors to keep in mind. Things like summer camps, sponsored events, and fellowship activities all come with an array of expenditures that must be recorded, approved, and reconciled, and these processes can all take considerable time out of a church…
Your startup company: in the beginning, it was an idea, a dream that inspired you to hire a few vital employees—and then some more. And just like that, it’s a reality. You’re making it happen, making connections, getting to know your customers and prospective customers.
Taking advantage of supplier credit terms—paying invoices as close to their due dates as possible—is one strategy accounts payable departments employ to help manage cash flow. But when it comes to reimbursing employees for T&E expenses, this practice might not be the best policy.
If you had to describe your expense reporting process, would you say it involves wrangling bundles of crumpled receipts, reconciling data between various paper and electronic spreadsheets, and chasing down employees to make sure you’ve got all of the information you need to get the job done? Rest assured, it doesn’t need to be this way.