Many of employers may increasingly find themselves out of pocket due to making inaccurate expense claims, suggests a news survey by ExpenseMagic.
Almost half of the employees surveyed claimed they sometimes lose receipts and often forget to claim for certain items or travel costs. A further 12 per cent say they regularly lose receipts. Three per cent even admitted they claim less than half of their expenses each time because their records are in such a mess.
This new survey highlights just how many of us could be losing out financially to employers due to bad management and poor handling of business expenses. This is further emphasised by the revelation that less than a third of employees actually claim all of their expenses accurately.
Constant Tedder, founder of ExpenseMagic Ltd comments, “Expenses are a headache; it’s easy to lose receipts or struggle to find the time to submit them. When the time comes to make a claim, it’s a nightmare sorting out lots of different pieces of paper and getting them into a coherent order for the accounts department. This survey shows just how bad the current process is for claiming out-of-pocket expenses, which means that too many people are losing out on a regular basis.”
