Expense Reconciliation

Expense reconciliation is a critical step in the expense management process where reported employee expenses are cross-verified with supporting documents like receipts, bank statements, or card transactions. The goal is to ensure that every claimed expense is legitimate, accurate, and in line with company policy. This process plays a key role in preventing errors, identifying fraudulent claims, and maintaining clean financial records for audits and tax filings. It typically involves the finance or accounting team reviewing each line item of an employee’s submitted report before approving reimbursement. Platforms like TripGain streamline this process by automating data capture, digitizing receipts, and flagging discrepancies in real time. This not only reduces manual effort but also accelerates reimbursement cycles while improving financial accountability.