Expense Management & Tracking

Expense Management

• Establish Clear Policies and familiarize yourself with the company's expense policies and guidelines to ensure compliance with regulations and procedures.
• Communicate these policies to the executive and other team members to ensure consistency in expense management practices.
• Work with the executive to establish a budget for various expenses, including travel, supplies, entertainment, and other business-related costs.
• Develop a budgeting plan to track expenses and ensure that spending remains within allocated budgets

Expense Tracking

• Keep detailed records of all expenses incurred by the executive, including receipts, invoices, and documentation.
• Utilize expense tracking software or spreadsheets to organize and categorize expenses for easy reference and reporting
• Collect and organize receipts for all business-related expenses, ensuring that they are properly labeled and stored for reimbursement.
• Implement a system for submitting and processing expense reports, including deadlines and procedures for reimbursement. In case the company doesn't have any
• Verify that expense reports are accurate and complete before submitting them for approval.
• Follow up on outstanding reimbursements and ensure that payments are processed promptly.
• Negotiate favorable terms with vendors and suppliers to optimize purchasing decisions and reduce costs.
• Maintain relationships with key vendors and suppliers, addressing any issues or concerns related to billing, pricing, or service quality.