Every company has expenses that are critical to its operational needs, business decisions, and short-term and long-term goals. Whether it’s the utility bills in an office space, or procurement of business tools and equipment, or outsourcing essential functions, companies like yours have to keep track of their spending to make sure they are profitable and self-sustaining. While many expenses are usually covered by a purchasing or office management department, employees often have to pay out-of-pocket for work-related needs and be reimbursed by their employer at a later date. An expense reimbursement form is an important and necessary document for your company.
Imagine having a direct report pay several hundred dollars to purchase a round-trip flight for a work conference and not properly documenting what was bought, when, and how much. How would you verify what was spent? How would you know which accounts or budgets to pull the money to reimburse your employee? An employee reimbursement request form gives your organization a way to formalize the repayment process, document details for accounting purposes, balance operational budgets, and make sure that there is approval for repayment. Having a reimbursement request form is good for everyone involved.
For field offices, such as in construction or certain types of program management, a printable simple reimbursement form may work for the employee who needs to complete a form in an area that lacks a secure connection to a business’s infrastructure networks. Electronic records are usually a great idea for any company, big or small. Repayment records can be stored electronically and recalled at any time for internal and external auditing, balancing budgets, providing backup documentation for change order requests, legal discovery, or closing out a project or work effort. Consider a reimbursement request form to be a contract document that is part of the official records for your organization. You’ll need to develop a standard employee expense claim form template to be implemented for consistent, company wide use.
It’s critical to have a template that is consistent and includes all the details needed for business purposes. Let’s suppose you want to establish a company procedure or process for work-related spending. Employees need a clear understanding of what is required. A thoughtfully developed expense reimbursement form takes the guesswork out of figuring what information and supporting documents, such as receipts or invoices, are needed to complete the remuneration. Form consistency allows your company to compare apples to apples when reviewing how expenses are tracked and compensated so that you can better make organizational improvements. A complete employee expense claim form template should contain the following information, at a minimum:
With more opportunities for remote work or satellite office operations, business processes should not be limited to the restrictions of postal or courier delivery. The ubiquity of the internet allows for real-time completion and distribution of electronic signatures. For example, an employee on the east coast can electronically submit a request that notifies an approver on the west coast immediately. If reimbursements over a certain amount require approval at an executive or regional level, a reimbursement request form can be routed to the appropriate persons.
Rolling out such a system doesn’t require the use of bulky networking equipment, proprietary operating systems, or a knowledge of coding. The Fluix platform offers an easy-to-use solution that can be scaled to work with your organization’s needs. Generate, distribute, and collect approvals on expense forms quickly and efficiently with this platform which is cloud-based and works on any mobile device. Find out how Fluix can help you roll out an employee expense claim form template solution with a free trial that requires no credit card today.