Several methods have been constructed over the years to combat poor documentation practices and difficulties in receipt submissions. In this blog post, we will describe the strengths and weaknesses of some different approaches put forward. 100% manual review 100% manual review is fully constrained by human limitations. If the person, or people, responsible for your […]
Common Methods of Receipt Reconciliation Read More »
When managing a card program, whether for domestic purchases or globally, more than likely your team has dealt with intensive receipt reviews. Although a time-consuming process when manually performed, receipts provide organizations with many critical compliance insights. In addition to providing proof for audits, receipts also identify compliance with internal policies and federal and state
9 Common Mistakes When Reviewing Receipts Read More »
As validating receipts for business purposes has become more crucial, attempts and techniques to circumvent it have become more common. The traditional, purely manual process is susceptible to overlooking or missing policy violations largely due to the repetitive nature of it. Having a person solely responsible for reviewing and validating receipts is not common: it
When Rubber Meets the Road: The Impact of Rubber Stamping on Receipt Validation Read More »
P-Cards, or Purchasing Cards, have become increasingly popular for businesses of all sizes to streamline procurement and reduce costs. However, with this increase in usage comes the responsibility of regularly reviewing receipts to ensure compliance and accurate reporting. Why Reviewing Receipts Makes a Difference Regularly reviewing receipts can become a full-time effort when the pile
7 Best Practices for Tracking Questionable Receipts Read More »
