A well-designed expenses system can help promote both efficiency and productivity, but in this stringent economic climate where cashflow management is more important than ever it is essential to keep a tight rein on expenses, and especially to avoid unpleasant surprises.
Here are some tips:
- Create a company-wide system with clear parameters and firm deadlines and ensure that all your staff are familiar with it
- Ensure all expenses are charged against the correct codes in your accounts
- Develop and enforce a list of preferred suppliers and use the downturn to negotiate favourable terms
- Where appropriate automate the system, especially if you have staff working from remote locations or from home
Check with us if you need help with any of this.