Expenses audit benefits and features
Conducting an audit of your expenses helps your company track employee spend, reduce overspend and eliminate the risk of expense fraud. Find out how Webexepenses' expense audit feature can help you.
Ensure spend compliance and optimal tax reclaims
At Webexpenses, our expense audit feature serves as an additional safeguard to the automatic compliance and duplication checks that are present in our employee expenses software.
Our audit service guarantees adherence to your company’s travel and expense (T&E) policy. It additionally frees up time for finance teams, managers and approvers by handling the receipt audit checks for them.
Auditing your company’s business expenses, travel expenses and operating expenses can help to eliminate fraudulent activity, and reduce the risk of overpaying an employee for their expense claim. It may also increase possible tax reclaims by identifying areas of missed tax credit opportunities.
Essentially, expense auditing can pay for itself - and then some!
The expense audit process is as simple as:
- Submitting your claims for approval using your expenses data from our software
- Allowing the audit team to check for policy compliance, errors, duplicates and tax reclaim amounts
- Receiving the completed audit report
Features of our Webexpenses expense audit
Expense fraud prevention
With an impartial team checking each expense, our audit process is incredibly effective against fraud and decreases the risk of employees submitting false claims.
Tax reclaim and compliance
Our auditors navigate global tax systems for accurate allocation of costs to ensure maximum tax reclaim of all legitimate expenses. To prevent issues from becoming costly, any problems are flagged before expenses are submitted for approval.
Error detection
Our auditing team uses their specific expertise to detect errors and issues in your expenses. To prevent issues from becoming costly, any problems are flagged before expenses are submitted for approval.
Receipt archiving
Every expense receipt that is processed and audited is systematically archived for full tax compliance.
Data insights
Detailed reporting provides insight into several key metrics on your T&E policy, compliance and tax regulations.
Real-time reporting
Extract and manage key information with comprehensive and real-time expense audit reporting.
Benefits of auditing expenses
Get your time back
Free up your financial teams, managers and approvers to focus on other, more important tasks.
Eliminate overpayments
Provide your teams with T&E policy compliance assurance to prevent expense fraud and overpayments.
Gain visibility
Analyse report details to streamline spend and develop a deeper understanding of your company's financials.
Increase tax reclaim
Boost your tax return with itemised deductions that may have otherwise fallen through the cracks.