Keys to Improving P-Card Expense Management

Accounting rules state that employee expenses should be reported during the period in which they are incurred. The IRS says expenses should occur within a “reasonable” period of time, which it defines as within 60 days of when the expense was incurred. This sounds straightforward enough, but challenges can arise concerning reports and receipts timing when employees use corporate p-cards to pay for their purchases.

To get some advice for Accounts Payable professionals involved in processing…