The holiday season often brings a different mix of business expenses than other times of the year. Employees may travel for meetings or events, teams may host company celebrations, and businesses may spend more on client meals, transportation, gifts, and other seasonal activities.
For finance teams, the challenge is keeping those expenses organized without creating unnecessary work for employees or managers. A consistent process can make it easier to understand what was spent, why it was spent, and which expenses still need to be reviewed.
Here are some of the most common holiday business expenses to track and ways to keep them organized.
What Counts as a Holiday Business Expense?
Holiday business expenses can vary depending on the company and the type of work employees are doing. Common examples include business travel, hotel stays, mileage, rideshares, client meals, company events, catering, employee or client gifts, and other approved seasonal purchases.
Not every holiday-related purchase will qualify as a business expense under company policy, so employees should understand what types of spending are allowed before they make purchases. Clear expectations can help finance teams reduce confusion when expenses are submitted later.
Track Holiday Business Travel Expenses
Holiday travel can involve several expenses tied to the same trip. Airfare, lodging, rental cars, mileage, parking, rideshares, and meals may all need to be recorded and reviewed.
Employees should keep travel expenses connected to the correct trip and provide the information required by company policy. That can make it easier for finance teams to understand the full cost of travel rather than reviewing each charge without context.
Using expense management software can help businesses keep travel-related purchases and supporting information organized in one place. It can also give finance teams a clearer view of employee spending as travel expenses are submitted.
Manage Client Meals and Entertainment Expenses
Client meals and entertainment can become more common during the holiday season. These expenses may require additional details so finance teams understand the business purpose behind the purchase.
Employees may need to provide the date, total cost, attendees, business purpose, and supporting receipt. Capturing those details when the expense occurs can make the review process easier and reduce the need for follow-up later.
Businesses should also make sure employees understand any spending limits or approval requirements that apply to meals and entertainment. Consistent documentation can help make expense reports easier to review across the organization.
Keep Company Holiday Event Spending Organized
Company holiday events can involve multiple expenses from different vendors or employees. A single event may include venue costs, catering, decorations, transportation, entertainment, supplies, and other purchases.
Finance teams can make these expenses easier to manage by identifying who is responsible for event-related purchases and keeping those costs associated with the same event or department. This can provide a clearer picture of total event spending and reduce the chance of expenses being reviewed without context.
For larger events, businesses may also want to establish spending limits or approval requirements before purchases are made.
Track Seasonal Gifts and Other Company Purchases
Some businesses purchase gifts for employees, clients, partners, or vendors during the holiday season. Others may make seasonal purchases for offices, events, or team activities.
These expenses should be recorded with the same level of detail as other business purchases. Employees should provide a clear description of the purchase and explain its business purpose when required.
Keeping these purchases organized can also help finance teams distinguish approved company spending from personal or unrelated expenses.
Make Receipt Capture Easier During Holiday Travel and Events
Receipts can be easier to lose when employees are traveling, attending events, or making several purchases over a short period of time.
Instead of waiting until the end of a trip or event, employees can capture receipts and expense details as purchases are made. Mobile expense reporting can make it easier to keep documentation connected to the correct expense while employees are away from the office.
A more consistent receipt process can also reduce the amount of time finance teams spend searching for missing documentation during expense review.
Use Expense Reporting Software to Organize Seasonal Spending
Holiday spending can come from multiple employees, departments, trips, and events at the same time. A consistent reporting process can help finance teams bring that information together and review expenses more efficiently.
Expense reporting software can help businesses organize expense submissions, supporting documentation, and approvals in one place. This can give finance teams a more complete view of seasonal spending without relying on separate emails, spreadsheets, or paper records.
It can also help create a more consistent experience for employees who need to submit expenses after business travel, client meetings, or company events.
Keep Holiday Business Spending Organized
Holiday business expenses can add complexity when several types of spending happen at once. Keeping travel, client meals, company events, gifts, and other seasonal purchases tied to the correct trip, event, or business purpose can help finance teams review spending more efficiently. ExpenseVisor helps businesses manage expense reporting, receipts, approvals, and other parts of the expense process in one place.
