Did you download your free report from Saturday’s post? https://faoblog.com/designing-successful-processes-shared-service-centers-andor-outsourcing/
Last post we covered the additional processes in Vendor Management. https://faoblog.com/processes-ap-vendor-management2/
Let us understand the following three processes now:
- Travel & Entertainment
- Employee Expense Processing
- P Card administration
You may ask, why I picked these three together? Well these are sort of related to each other.
Travel & Entertainment
As the name denotes, these are normally expenses incurred by employees during travel and may include some expenses as well. Some organizations like to call these travel and expenses. Whatever the term, these are normally known as T & E. For a lot of organizations, these comprise of a large chunk of the S G & A expenses (sales and general administration), and are normally not associated with some related revenue returns. I am sure whenever there is cost cutting, this is the first area which is restricted by the company owners / directors. Normally this category will have some very well defined business rules and approval structures.
Employee Expense Processing
Related to this is the employee expense processing. This is quite often distinguished from the above category by being a residual category from what is not covered in the above. This can include telephone reimbursements, local conveyance, emergency local travel, special employee food expenses, petty cash stationery purchases and a lot more.
I will pick up P-Card administration in the next post.
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