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sQuid payment system 'could help bosses manage budgets'
9 Jul 2009

A cashless payment system that can be loaded up in advance could be just the solution for employers looking to keep tighter tabs on staff expenditures.

New figures from uSwitch indicate that some employees are making exaggerated or untrue expenses claims in the wake of pay freezes and salary cuts amid the recession.

Among the most common fibs are adding to a petrol expenses claim, enjoying a family dinner or romantic meal for two on the company credit card, or using a work phone to make personal calls - even to overseas destinations.

"Employees must think long and hard ... before exaggerating or submitting a bogus expense claim as it is unlikely that, what some might regard as a 'harmless' indiscretion, is worth losing a job over," said uSwitch personal finance expert Louise Bond.

sQuid eMoney - which must be topped up before use - could help employers get their staff to stick to a budget and may also offer them a speedier way to pay for small items.