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Employee Advances and Expense Reports
Rapid turnaround is a key in expense return processing. Increases
in electronic reporting and automatic approval are the trends as
companies work to keep employees happy.
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More companies get expense reports electronically and many
are in the process of selecting or installing an electronic
T&E system.
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Although the IRS no longer requires receipts for employee
expense transactions under $75, most companies use a cutoff
of $25 or less and most still file all receipts regardless of
amount.
- Many companies no longer issue travel advances or require the
employee to use a company credit card to obtain cash.
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