Hello, I am the T&E admin for our company and I wanted to get some feedback about a change we might be implementing.
Currently we require a receipt for all transactions, regardless of amount. We are thinking about changing that to allow people to submit expenses without a receipt if the amount is under $25. I am trying to get some feedback about whether anyone with a similar policy saw an increase in employees abusing this policy. I want to present a complete case to our CEO so I want to be able to answer any questions about the possible drawbacks to this change.
Thanks for any help you can provide!
the approach you are asking is quite common in companies, mainly if US based (as in EU and few other coutries they could recover VAT/ GST).
I would think is okay to implement the trashold even to 50 USD, but I also strongly recommend is done only for company credit cards transactions expenses... In other words, if paid by cash, receipts is a requirement, if paid with Company credit card (which get also feed on the system) is accepted a no receipt rule.
Let us know.