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Expense Approval Process

oboloo Glossary

Expense Approval Process

Expense Approval Process is the practice of verifying and authorizing requests for expenditure on company resources. Through this process, an organization ensures that financial resources are spent in accordance with its stated policies and objectives. This involves a systematic review of all expenses to determine their appropriateness and legality. The process can help improve cost control, reduce errors, and ensure regulatory compliance. It also helps build trust between employees and organizations by validating expenditures and preventing unnecessary spending.

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