Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have been promoted to lead a newly formed team of 10 people. Most team members travel for work and some work from home part

You have been promoted to lead a newly formed team of 10 people. Most team members travel for work and some work from home part of the time. One of the things that takes up a lot of time for people who travel or work remotely is putting together expense reports for travel and home-based office expenses. You must review every expense report for accuracy before you send it to the accounting department, which verifies that the expenses do not exceed the budget for a particular account. If there are no budget issues, the accounting department tells the accounts payable department to reimburse the employee. If you find an inaccuracy or a receipt is missing, you must send the report back to the employee for correction. If the accounting department discovers a budgetary problem, they will send the report back to you to identify a different account to use for the expenses.Select a tool that centralizes the processing and reporting of travel and home-based office expenses. Think of this as a single all-in-one expense management tool that employees can use to submit their expenses; managers can use to review, edit, approve, and track these expenses; and Accounts Payable can access to process expense reimbursements to employees. Some of the best expense management tools can be used for multiple tasks, like booking a flight and purchasing an airline ticket, scanning travel-related receipts, submitting expense reports for reimbursement, reviewing/approving employee expense reports, and storing all expense-related files within the same tool. Make a process map depicting the steps for expense reporting. The process map can be similar to a flow chart so your team can better visualize the expense reporting process as you walk through the steps with them and explain how the expense management tool(s) could make this time-consuming process easier and/or faster. Explain how your team will use the tool. The document should look professional and include references so your team members can find more information about the tool you are proposing.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Welcome To Hospitality An Introduction

Authors: Kaye Kye-Sung Chon, Thomas A. Maier

3rd Edition

1111780684, 9781111780685

More Books

Students also viewed these General Management questions

Question

Always show respect for the other person or persons.

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago

Question

1. Too reflect on self-management

Answered: 1 week ago