1 Why deadlines matter

The deadline for submitting an expense report may vary depending on your employer's policies and procedures, but it is usually within a certain period after you incur the expense or complete the trip. For example, some employers may require you to submit your expense report within 30 days, while others may have a shorter or longer timeframe. This deadline is of great importance as it allows for timely and accurate processing and payment of your expenses. Missing the deadline can lead to various consequences, such as delayed or denied reimbursement, tax implications, audit issues, and disciplinary action from your employer. Additionally, if you fail to submit your expense report within the tax year or extension period, you may have to report your expenses as income and pay taxes on them. Furthermore, submitting incomplete or late reports can result in questions from auditors or regulators that require additional documentation or explanation. If you repeatedly or intentionally disregard the policies and procedures related to expense reports, you may face penalties or sanctions from your employer.

3 How to handle exceptions

Sometimes, you may encounter situations where you cannot meet the deadline for submitting an expense report due to unforeseen circumstances such as losing or damaging receipts, incurring unusual or extraordinary expenses, or technical or system issues. In the case of lost or damaged receipts, you should try to obtain a duplicate receipt from the vendor or use other evidence such as bank statements, credit card statements, or invoices. You should also explain the situation and provide proof to your employer. If you incur expenses that are not covered by your employer's policies and procedures, you should seek prior approval from your employer or provide a detailed justification and documentation for your expenses. For technical or system issues, you should contact your employer's IT support or help desk and report the problem. You should also save or backup your expense report data and submit it as soon as the issue is resolved. If you face any of these exceptions, it is important to communicate with your employer as soon as possible and request an extension or a waiver of the deadline. You should also document the reason and the evidence for your request and keep a copy for your records.

4 How to improve your expense reporting skills

Submitting your expense report on time is not only a matter of compliance, but it also demonstrates professionalism and efficiency. It shows that you value your employer's policies and procedures, manage your expenses wisely, and respect your time and money. To enhance your expense reporting skills, you should learn from feedback if your expense report is rejected or questioned. Additionally, seek guidance from your employer or a colleague if you are uncertain about any aspect of expense reporting. Furthermore, update your knowledge if the policies and procedures change by reading the new guidelines, attending the training sessions, or using the new tools and systems.

5 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?