According to a recent report from the Government Accountability Office, roughly 41% of the $14 billion charged by federal employees to government credit cards wasn't properly authorized or didn't meet payment standards. Highlights from the report should send shivers up any HR manager's spine.
Charge: Internet dating services for 15 months. Cost: over $1,100.
Charge: high-end apparel. Cost: $77,700.
Charge: dinner for 81 conference attendees. Cost: $13,500.
Firm control over expense account policies can ensure that your company's travel and entertainment (T&E) dollars don't end up in employees' pockets.
REPORTS + RECEIPTS = ADEQUATE ACCOUNTING
Employees who use company credit or debit cards, and employees who use their own credit cards who expect to be reimbursed, must always account to the company for their business expenses. While you have great latitude in creating a T&E policy and the forms — paper ...(register to read more)
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