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4 Signs It's Time to Stop Using Excel to Manage Your Travel Expenses

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Like so many other companies, you might still be using Excel to manage your team’s business travel expenses. While this is a good short term solution, in the long run it will cause a lot of stress and extra work. If you’re wondering whether it’s time for you to start looking for a better option, read the common signs that it is.

1. You’ve reported incorrect monthly travel spend.

If you use excel to manage reporting, there’s a good chance your employees are also submitting paper receipts to you. This means you have to wait for them before you can enter their expenses into your report. Just one person being late with their receipts prevents you from having accurate monthly reporting. Don't let this happen! You need a program that allows travelers to automatically send their expenses to you as soon as they spend money.

2. Your employees are continually booking travel that is over budget.

With manually entered expenses, there’s a good chance that you aren’t seeing any travel receipts until after a trip has happened. That means you don’t know whether someone stayed within budget, expensed one too many meals, or booked a 5 star hotel, until it’s too late. If you are seeing over-budget expenses all the time, it’s a huge sign that it’s time for you to make a change to your process. Think of all the money you will save your company!

3. You are chasing people down to confirm the expenses they are submitting.

When your employees submit a receipt that shows one amount, but they enter another amount on their expense sheet, you have to find them to confirm which amount is actually correct every single time. There’s no other way to be sure that what you ultimately report on is accurate. Human error is a part of manual entry, but if you switch to a program that allows your team’s business travel expenses to automatically be submitted when they book a trip, you won’t have to worry about that anymore.

4. You’ve accidentally duplicated an existing spreadsheet because you couldn’t find the one you were looking for.

We’ve all been there. Frantically searching through our google drive with every keyword we can think of to pull up the right spreadsheet. When you don’t find it, you create a new one. And then a few days later you find the original one and now you’ve cluttered your files further with documents you didn’t even need. If you’re finding it’s getting harder and harder to locate your travel expense related documents, it’s time to consider that there is an easier way to manage this!

 

lola.com howtosimplifyyourcompanystravelexpenses pdf v3-1Looking for more helpful tips on how to organize your company’s expense processes? Check out our guide: How to Simplify Your Company’s Travel Expenses

Download it now!

 

Published Date : September 27, 2018

Posted by

Emily Parker-Woodland