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What are your expense report deadlines?

Traci Leffel's Profile

I am curious as to when other companies require their sales team and employees turn in expense reports. Currently, we prefer them weekly, but our only policy is that expenses more than 30 days old may not get reimbursed. This creates an inconsistent process in which we are getting some individual's reports weekly, others approximately monthly and others somewhere in between (pretty inconsistent though). We just completed the process of putting together a process map of our month end processes and identifying "pain points" in an effort to address those issues to speed up our month end (currently at about 9 business days to completion of full monthly financial packet). One area identified as a pain point was that we were either holding open AP for these reports or missing them prior to close. I brought forward the idea to our president that we may want to require expense reports be completed by the end of the day on Mondays (we are also in the process of rolling out expensify, so a policy would probably be good timing). I was actually surprised that he balked at that and said he'd prefer that everyone just turn theirs in monthly. However, that would create a bigger workload at month end for AP and would not be liked by those that currently do weekly reports. So, I'm curious what others do? How often are reports due? When are they due? What do you do with chroncially late expense reports? Any outside the box ideas on this one? We had tossed around the idea that the employee would need to complete a form in order to get reimbursed if late in turning in their report, but that has a downside in that it's also more paperwork for us!

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