Five Tactics To Make Expense Management Easier

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Five Tactics To Make Expense Management Easier


Having the company pick up the tab on the road is great, but searching through the bottom of your suitcase for a receipt isn’t. In our last main Business Travel Week post, we look at how to make expense management less of a hassle.

Picture by MemphisCVB

I’m not going to lie: like most organisational tasks, there’s no magic bullet that will eliminate the pain involved in sorting your receipts and submitting your expenses. But there are tactics you can adopt to make it less hassle. Here are five simple time-honoured techniques that help get the job done.

Use a credit card whenever possible

Picture by Lisa Clarke

Be very clear on what your company policy is

Picture by SteveR

Have a designated location for receipts

a lot of your wallet functionality with your phone

That said, the most important principle is having a consistent location, whatever it is. As soon as you acquire a receipt, place it there — and don’t store receipts you can’t actually claim in that location. If you need to keep personal receipts as well, put them somewhere else. You don’t need an over-the-top solution; a couple of envelopes in your carry-on bag will do the job just fine, especially if there’s an exterior pocket. Picture by Thirteen Of Clubs[imgclear]

Make smart use of your smart phone

note taking app

Schedule calendar time to do your expenses

Got other expense management strategies that save you time and stress? We’d love to hear them in the comments.

Lifehacker Australia editor Angus Kidman does not want to discuss the size of his shoebox. His Road Worrier column, looking at technology and organising tips for travellers, appears each week on Lifehacker. Throughout Business Travel Week (which, like many a business trip, has gone a little longer than originally planned), we’re looking at strategies to make business travel more productive.

Comments

  • Sometimes there is a policy against using the CC for certain kinds of items. For example, my previous employer wouldn’t allow you to buy any item with “unspecified future use”, like a multi-trip train ticket. You had to pay for it with cash, then get it reimbursed after you’d used all the trips.

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