News Article - 02 May 2008
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Small businesses in Britain are advised to ensure that they monitor expenses claims carefully.

According to the Federation of Small Businesses (FSB), false expenses claims can cost a business financially and also damage its reputation.

Stephen Alambritis, spokesperson for the FSB, suggests that false expenses claims are costing companies more than £1 billion a year, causing serious concern for smaller firms.

Effective accounts software can help businesses to keep track of expenses claims, ultimately saving them money and protecting their reputations.

"Any shrink in the turnover of a business is worrying for two reasons; it limits the ability of the business to use all its income positively but also [affects] the reputation of the business," Mr Alambritis explained. "What we urge all businesses to do is to have good tight expense claim procedures that are fair and firm across the board."

By adopting accounts software, companies can ensure that their business processes, including expense claims procedures, are not too lax.

A recent survey of 3,000 UK workers by Travelodge found that spurious expenses claims filed by respondents included plastic surgery, escorts, council tax, honeymoons, a diamond engagement ring, new cars and even a goat.

However, just eight per cent of the workers polled had been caught and sacked for fiddling expenses claims.

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