Steps to take an optimal expense sheet

Steps to take an optimal expense sheet

A fine expense sheet must follow a few steps

In previous articles we have mentioned that the expense sheet is a document which turns into the tool of expenses controlling. It is the place where each income entered the company, is justified; it is a financial accounting of the expenses, allowing also to process them in an analytical way. That’s why it is  very important to validate its information and keep on top of the processes. There will be reflected in the sheets such expenses as travel, advances, petrol and transport ones, among the others. It becomes very important the development of optimal expense sheet.

  1. Definition and policy of the requirements: everything must be realized omitting nothing: definition of process, concepts and maximum expenses, which may be presented.
  2. To balance relations between the company and its participants (employees): once this harmony is managed, one can avoid the frauds in the sheets and disinformation to the maximum. Often frauds can occur unintentionally, simply due to non-acquaintance. It is important to make all the employees realize that a proper development of the expense sheet can be a benefit for the company.
  3. Expense sheet drafting: it is performed by the employee, compiling all his expenses and justifying everything he spends.
  4. Expense sheet control-audit: after the employees have been taught how to make and to fill their expense sheet, they are responsible of making and presenting such documents as invoices, for example. It is important to have an auditor responsible for assessing of the sheet content correction and its complying to the policies established by the company. It is a task usually carried out at the end of the month. This audit has two phases: the first is to review all the documents for coincidence with the written in the expense sheet and to verify that there are no errors. In the second phase the auditor examines and analyzes the expense sheet to assure it was made with the established policies. These 2 phases can be performed simultaneously.
  5. Accounting department: the auditor can pass the verified and approved data to the accounting department to be incorporated into the financial and accounting system of the company. This department is responsible to make the respective reimbursement if necessary.
  6. Bank reconciliation: If employee’s expenses are paid by cards of company, it’s possible to make the bank reconciliation with the data set received from the bank department, ensuring that all the expenses are controlled and checked.
  7. Reporting: after the expense sheet has processed it is important to analyze the information and all the data to make better decisions, to do improvements and to optimize costs. To prepare a correct report it is necessary to classify the information correctly.

We are here in  Dokuflex  to help you, to consult you with your expense sheet, click here to see more information:http://dokuflex.com/hoja-gastos-gestion-control-costos/

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