What are the best ways to ensure expense report accuracy with Concur software?

If you use Concur software to manage your expense reports, you know how important it is to ensure accuracy and compliance. Concur is a cloud-based solution that automates and simplifies the expense reporting process, saving you time and money. However, even with Concur, you still need to follow some best practices to avoid errors, fraud, or audit issues. Here are some of the best ways to ensure expense report accuracy with Concur software.

Key takeaways from this article

Establish robust policies:

Customize Concur's policies to align with your business needs, defining expense types, limits, and approval workflows. Clear guidelines help employees understand what’s acceptable and streamline the expense reporting process.### *Leverage mobile app features:Use the Concur mobile app to capture receipts and import transactions instantly. This minimizes errors and ensures all expenses are documented accurately on the go.

This summary is powered by AI and these experts

1 Set up clear policies

One of the first steps to ensure expense report accuracy is to set up clear and consistent policies for your employees. Concur allows you to customize your policies based on your business needs and industry standards. You can define the types of expenses that are allowed, the limits, the approval workflows, the receipts requirements, and the reimbursement methods. You can also communicate your policies to your employees through Concur, and provide training and support if needed.

Add your perspective

Zeeshan Ahmad

Accountant at Nakisa
Report contribution
Train users thoroughly. Set clear expense policies. Utilize receipt capture and credit card integration. Review and reconcile reports regularly. Implement approval workflows. Use auditing features for compliance. Encourage double-checking before submission. Monitor system usage and performance. Provide ongoing support to users. Update policies as needed.

Like
Ammar S.
Report contribution
Make sure all your invoices and receipts match your expense reports in Concur, and make sure the amounts and details match accurately. Use Concur's feature to link your credit card account to ensure all transactions are recorded accurately, and avoid manual errors. Define expense classifications accurately according to company policies, and choose the correct categories for each expense. Upload your receipts and supporting documentation directly to Concur to document expenses and ensure reporting accuracy. Review your expense reports regularly to ensure there are no errors or duplicates, and correct them promptly. By following these steps and adhering to best practices, you can achieve greater accuracy in your expense reports with Concur.

Like

2 Use the mobile app

Another way to ensure expense report accuracy is to use the Concur mobile app. The mobile app allows you to capture and upload receipts, create and submit expense reports, and track your reimbursements on the go. You can also use the app to scan your credit card and automatically import your transactions into Concur. This reduces the risk of losing receipts, missing deadlines, or entering incorrect data.

Add your perspective

3 Review and approve promptly

A third way to ensure expense report accuracy is to review and approve your expense reports promptly. Concur provides you with real-time visibility and alerts on your expense reports, so you can easily monitor and manage them. You can also use Concur to automate the approval process, and assign different roles and permissions to your approvers. By reviewing and approving your expense reports quickly, you can avoid delays, errors, or disputes, and ensure timely reimbursement.

Add your perspective

4 Audit and analyze regularly

A fourth way to ensure expense report accuracy is to audit and analyze your expense reports regularly. Concur allows you to run reports and dashboards to track and measure your spending patterns, trends, and compliance rates. You can also use Concur to integrate with other systems, such as your accounting or ERP software, to consolidate and reconcile your data. By auditing and analyzing your expense reports frequently, you can identify and correct any errors, fraud, or inefficiencies, and improve your expense management performance.

Add your perspective

5 Update and optimize frequently

A fifth way to ensure expense report accuracy is to update and optimize your Concur software frequently. Concur is constantly evolving and adding new features and functionalities to enhance your user experience and efficiency. You can use Concur to check for updates and upgrades, and apply them to your software. You can also use Concur to solicit feedback from your users, and make adjustments to your policies, workflows, or settings as needed. By updating and optimizing your Concur software regularly, you can keep up with the latest best practices and standards, and ensure optimal accuracy and compliance.

Add your perspective

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

Add your perspective

What are the best ways to ensure expense report accuracy with Concur software?

1

2

3

4

5

6

1 Set up clear policies

2 Use the mobile app

3 Review and approve promptly

4 Audit and analyze regularly

5 Update and optimize frequently

6 Here’s what else to consider

Accounting

Rate this article

Thanks for your feedback

More articles on Accounting

More relevant reading