Team Happay
By: Team Happay
Published on: April 11, 2015

Every month, there comes a time when we want to stick our heads in sand. The reason – expense claims submission. As the deadline draws close, the madness begins.

It’s an all-too-familiar situation and our typical reaction is to start ransacking our homes, wallets and office drawers in hunt of all those receipts from business trips, team lunches, fuel, cab rides, etc. If that’s not enough, we have to spend hours organising all receipts and then fill the same data in spreadsheets.

It’s a lot to take and it breaks our heart to see all of you go through this ordeal every single month of the year. Which is why we have come up with some handy tips to help you be more organised with your expense receipts and claims.

Your survival guide to the end-of-the-month Expense Claims madness

Tip # 1 – Itemise your receipts instantly

Simply asking for an expense receipt every time you make a purchase is not enough; you’ve to itemise the receipt data. This will help you justify your expense later on. Here’s how you do it.

  • Every time you incur an expense, make it a point to quickly jot down why you made the purchase on the back of the receipt. Add details like- with whom you were with, for what project was the expense for, for which client, etc.
  • If the receipt bill includes both personal and business expenses, add an asterisk symbol ( * )  to the personal purchases to categorise them separately. At the time of creating your expense report, you will easily identify what not to include in the expense report.
  • Make it a practice to itemise your receipt data on the same day that you incur the expense. This way you don’t have to try and remember why you made the purchase, a month later.

Now if you want to go the smarter way, use our expense reporting mobile app – happay . Capture expenses on mobile- just add a category to the expense with a one line description and you’re done. To separate your business expenses from the personal ones, we offer a fabulous split bill feature.

Tip # 2 – Designate a single place for your receipts

Every time we get a receipt, we normally crumple it and keep it either in our wallets or in our pockets. Some receipts lie unattended in our office desks, some in the car, and a few at home. No wonder we misplace receipts so often and drive ourselves nuts locating them. Why not store them all in one place, where they can be accessed easily, at any time?  That’s right, on your smartphone!

  • Take a quick picture of receipt and store it in your smartphone gallery.
  • Upload the digital receipt images either to your email inbox or dropbox.
  • Access the receipts anytime you want.

Or better yet, save your receipts with your expenses. With the happay mobile app and the web dashboard, your receipts are synced with your expenses and stored on the cloud; you can access them anytime.

Tip # 3 – Create your expense policy checklist

We very conveniently ignore our company’s expense policy till the day our expenses are declined by the finance team. Avoid this hassle by taking some time out to create your personal expense policy checklist. Here’s how to do it.

  • Read through the expense policy document shared by your company.
  • If you find the document too overwhelming, as is the case with most of them, have a chat with your HR or finance representative.
  • Based on your reading and your conversation, make a quick checklist of the policy rules that apply to you and refer to the checklist every time you create your expense report.

Creating and following a checklist still takes time. Don’t you wish someone could do this for you? Well, that’s where we come in. With happay, your company can define expense policies for you within the system. Happay automatically notifies you whenever your expenses fall out-of-policy so you can take the necessary action before you submit your expenses.

Tip # 4 – Tabulate your expenses weekly

Tabulating a week’s expense activity in spreadsheets is easier than doing it for a whole month. Do this diligently and you will find yourself ready to roll when the deadline for submission comes close.

  • Choose a day and time that suits your schedule, preferably towards the end of the week, and set a reminder on your Google Calendar for the same.
  • Tabulate expenses in a spreadsheet as per schedule.

Oh, but wait! Did we say spreadsheets? Yes, we know entering data in spreadsheets can be frustrating. So, how about we take spreadsheets out of the equation. Use the happay Visa card and capture expenses automatically on your app. Select expenses and submit your expense report with a click of a button. It’s that simple. No more tabulation of data.

If you’re reporting your business expenses manually, organising receipts and submitting expense claims on time requires dedication and commitment from your side. However, it’s not difficult. A little bit of conscious effort and time on a regular basis will make this less of a chore.

On the other hand, you can choose to automate expense reporting with happay and forget the hassles of paper receipts and spreadsheets once and for all.

So starting this month, make expense claims effortless and stress free. Switch to Happay!

Every month, there comes a time when we want to stick our heads in sand. The reason – expense claims submission.

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Team Happay
The editorial team at Happay puts together curated content that helps Indian SMEs and Enterprises take control of business payments. We create content on a wide array of topics from B2B payment trends and spend management best- practices to real-life case studies of how CXOs of different organizations use automation and mobility to manage business spends more effectively.

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