December 15 to 20 are dates that accountants the world over dread. This is when employees rush to claim expense accounts
A study by Concur, an integrated travel and expense company, shows that mid- December is when there is maximum rush to claim expenses.
In India, December 15 is identified as the busiest day for submitting claims. Contrary to common perception it is not Diwali, but Christmas which sees the rush. Based on an analysis of Concur clients’ expense transaction volume, the number of claims made in India on this day is 139 per cent above the daily average, it said.
For the world, December 20 has been identified as the busiest expense day with a 138 per cent increase above the daily average.
In India, an analysis of the months prior to December -- during Diwali (October/November) -- shows that lowest number of expense submissions in India were filed on the first day of Diwali, November 5 - a surprising 87 per cent drop on the average number of expense submissions over the year.
However, November 8 was the fifth largest day for expense submissions at a 108 per cent increase above the average number of expense submissions, the study showed.
"As wallets feel the strain of the festive period, claiming expenses suddenly springs to the forefront of minds," comments Mr Christopher Juneau, Senior Director Marketing, Asia-Pacific.
In the US, December 20 is a bad day for accountant teams, with a 167 per cent increase on the average number of daily expense claims. This adds further pressure on them as they are expected to process all of the last minute submissions before they head off to enjoy the break.
A similar situation is faced in Canada, with a whopping increase of 210 per cent on the average daily expense claims. In the UK, December 13 is the busiest expense day of the year for accountant teams with an increase of 139 per cent above the daily average.
With over 11,000 clients globally, Concur has insight into corporate travel and expense spend. A key factor that may contribute to the dramatic increase in claims during the Christmas period is a surge in client and staff entertainment, the study shows.
The data are based on expense claims submissions inserted into Concur’s automated expense management tools, used by thousands of businesses across the world, the company said, adding that the results are based on expenses submitted between January- December 2010.