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Keeping the lid on expenses

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:

  1. Create a company-wide system with clear parameters and firm deadlines and ensure that all your staff are familiar with it
  2. Ensure all expenses are charged against the correct codes in your accounts
  3. Develop and enforce a list of preferred suppliers and use the downturn to negotiate favourable terms
  4. 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.

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Tags: Credit Control, Personal tax returns, UK expenses

This entry was posted on Monday, March 29th, 2010 at 8:26 am by Paul Beare and is filed under Australia, Canada, France, New Zealand, UK accounting, USA. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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