What is expense management? Tracking work spending without the paperwork
By SendPay Business · · 2 min read
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Expense management is how a business records, checks, approves and pays back the money its people spend on work. Done well, it keeps spending under control and makes bookkeeping and tax easier.
What it covers
It usually covers travel, meals, mileage, software and supplies, whether staff pay with their own money and claim it back or pay with a company card. Each cost needs a receipt, a reason and the right category for the accounts.
How a typical claim works
- An employee pays for a work cost and keeps the receipt.
- They submit the claim with the receipt and a short reason.
- A manager checks it against the expense policy and approves it.
- Finance pays the employee back and records the cost in the accounts.
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Common problems
Lost receipts, late claims, unclear rules and slow approvals are the usual pain points. A short written expense policy, company cards with limits and receipt capture on the phone solve most of them.
Where SendPay fits
SendPay platforms include accounts, branded Visa cards and transfers under your own brand, powered by licensed partners. SendPay tells you in writing which licences apply to your platform before you launch.
How it works
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
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Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.