Chrome River CURRENTS

In this second part of a three-part series, we will resume our discussion of Accounts Payable Best Practices (Part 1) fueled by an excellent article entitled "9 Best Practices for Automating Your AP Department," written by David Schmidt and Katie McMurry. Their work appeared in the Third Quarter printing of Financial Operations Matters and provides an excellent road map for automation that is both commonsensical and actionable.

Recently I had the good fortune to stumble across an excellent article entitled "9 Best Practices for Automating Your AP Department" in the third-quarter printing of Financial Operations Matters. This little gem was written by David Schmidt and Katie McMurry and offers a viewpoint on AP Automation that is very much aligned with my own personal opinions on this topic.

Spreadsheet expense reporting can be overwhelming, stressful and downright confusing for everyone involved. With so many people playing a role in the reporting and accounting process, some expenses may be recorded twice, while others may never be documented at all. Fortunately, you can break the usual spreadsheet cycle with a single tool: the online expense reporting program.

End-of-year expense reports are extremely important for any business. Using the information on your report, you can complete your tax return, analyze your profits, and plan for the following year. However, too many business owners wait until the last minute to start compiling information for this essential document. Below are 10 tips you can use to get a head start and ensure that you don't miss anything important.

There are plenty of hurdles for firm owners to jump while running a competitive law practice without tripping over excessive operational costs. It’s a fast-paced industry that requires resourcefulness and refined spending habits. Simplify saving with these tried-and-true tips that help keep budgets on track and goals within reach.

A finger tap is all that’s needed to take advantage of these top business travel tips. Plan, organize, track and process information anywhere, anytime. And with these savvy smart phone apps, you'll look cool, calm and collected while doing it.

It is difficult to determine a business budget without first looking at the spending trends that help to create it. Being aware of business travel expenses is imperative to trip planning, and careful tracking is an infallible method of keeping those travel budgets on the right course. A little tracking can go a long way! After all, travel and expenses makes up about 10% of your operating budget.

Are your employees cheating on their corporate travel expense reports? About 80% claim that they are generally honest with their travel expense reports but some admit to skimming a little of company funds for various reasons. Your employees represent your company on the road. And, their occasional unethical practices should be minimized, if not eliminated.

I had the opportunity to deliver a best-practices webinar with Information Builders, a leading provider of Internet-based business intelligence and reporting solutions. They also provide the technology behind Chrome River ANALYTICS, the management reporting module within the Chrome River expense management software suite.