What skills do you need to ensure accurate and complete expense reports?

1 Organizational skills

One of the most important skills for expense reporting is organizational skills. You need to be able to collect, sort, categorize, and store all the relevant receipts, invoices, and documents that support your expenses. You also need to follow the rules and guidelines of your company or client regarding expense reporting, such as the allowable categories, limits, formats, and approval processes. Organizational skills can help you avoid losing or misplacing receipts, overspending, or missing deadlines. You can improve your organizational skills by using tools and apps that help you scan, upload, and manage your receipts, such as Expensify, Concur, or Zoho Expense.

2 Attention to detail

Another essential skill for expense reporting is attention to detail. You need to be able to check and verify all the information and calculations on your expense reports, such as the dates, amounts, exchange rates, taxes, and categories. You also need to be able to spot and correct any errors, discrepancies, or inconsistencies that might cause confusion, delays, or rejections. Attention to detail can help you ensure that your expense reports are accurate, complete, and compliant with the relevant policies and regulations. You can improve your attention to detail by reviewing your expense reports carefully before submitting them, using templates or software that automate some of the calculations and validations, and asking for feedback or assistance from your supervisor or colleagues.

3 Communication skills

A third skill that you need for expense reporting is communication skills. You need to be able to communicate clearly and professionally with the people involved in the expense reporting process, such as your manager, accountant, auditor, or client. You also need to be able to explain and justify your expenses, provide evidence and documentation, and respond to any questions or requests. Communication skills can help you avoid misunderstandings, disputes, or penalties that might arise from your expense reports. You can improve your communication skills by using clear and concise language, following the appropriate tone and etiquette, and being respectful and cooperative.

4 Analytical skills

A fourth skill that you need for expense reporting is analytical skills. You need to be able to analyze and interpret the data and trends from your expense reports, such as the spending patterns, budget variances, cost savings, or tax implications. You also need to be able to use the insights and information from your expense reports to make informed decisions and recommendations, such as how to optimize your expenses, reduce your costs, or improve your efficiency. Analytical skills can help you add value and improve your performance through your expense reporting. You can improve your analytical skills by using tools and software that provide reports and dashboards, such as QuickBooks, Xero, or FreshBooks.

5 Ethical skills

A fifth skill that you need for expense reporting is ethical skills. You need to be able to act with honesty, integrity, and responsibility when it comes to your expense reporting. You also need to be able to follow the ethical standards and principles of your profession, company, or industry, such as the code of conduct, the fiduciary duty, or the anti-fraud policy. Ethical skills can help you avoid any ethical violations or misconduct that might damage your reputation, credibility, or career. You can improve your ethical skills by being aware and informed of the ethical expectations and obligations, seeking guidance or advice when in doubt, and reporting any suspicious or unethical behavior.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?