Protect Yourself with Automated Expense Reporting

Protect Yourself with Automated Expense Reporting

  • September 30, 2022
  • Author: Stephanie Kong
Reading Time: 5 min

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Solutions In the Market Don’t Cut It

 

In the market, there are third party software tools available to help with talent expense management, but many of these lack the underlying automated logic needed for country specific tax compliance. So while you can leverage their software to manage your talent expenses, they will not notify you whether these expense categories are taxable in a specific country and the amount that is taxable within those categories. Other global onboarding providers also offer basic expense reporting functionality without the automated tax compliance logic that WorkMotion’s expense feature offers. You will need to rely on manual categorization of taxable expenses which can lead to human errors as well as taking up valuable time.

WorkMotion’s Easy Expense Check Management

 

With our expense management feature, your talent can now enter all their expenses accurately in our platform and you can identify which expenses fall under taxation. We have included all the required input fields for different categories of expenses following each countries’ rules for taxation.

 

HR view of expense status screen

 

A Simple Automated Process

  1. Talent reports expense in the platform and uploads the requisite receipts.
  2. The expense is automatically assessed for compliance with tax laws within that country.
  3. HR is notified if the expense submission is taxable.
  4. HR approves or rejects the expense request.
  5. Talent is notified of the approval or rejection of their submission.
  6. Payroll and Finance departments take relevant actions based on the expense status.

HR review expense for approval screen

We Have You Covered

 

Your HR admin and finance teams can save some time and minimize errors compared with a process of manually sorting through and categorizing expense requests based on taxability. Leveraging our expense feature, these teams can reduce their effort on a mundane task while also protecting your company from possible reporting errors and penalties.

 

 

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