Despite its importance, expense tracking can be challenging due to:
Data Accuracy: Ensuring that all expenses are accurately recorded can be difficult, especially with manual entry systems. Compliance: Keeping up with changing tax laws and regulations to ensure compliance can be complex. Fraud: Detecting fraudulent expenses, especially in large organizations, requires vigilant monitoring and robust internal controls. Employee Resistance: Employees may resist using new tools or following new policies, requiring continuous education and reinforcement.