Fyle’s Gmail Add-on to do your pesky Expense Reports
Let us put it this way. Fyle loves Gmail. We started by building the world’s first chrome extension for reporting expenses from Gmail. Two years later, add-ons have rekindled our love for Gmail. For the uninitiated, add-ons can be used inside Gmail to automate repetitive tasks. From tracking sent emails to updating your CRM, you can find a host of apps in the GSuite Marketplace to make your life easier. While there are multiple add-ons for CRM, invoicing, and task-tracking, we found none for expense reporting. We felt it was our call to deliver something extraordinary, and we were up to the challenge. We are proud to announce that today…
7 receipt scanner apps for your business expenses
Does your wallet always feel bulky with all the receipts you constantly lug around? Further, are you worried that lost receipts would translate into lost money? We have news for you. Finally, the day has come where you can forget about lost, crumpled, or buried receipts. Receipts are small, difficult to find, and hard to track. We get it. But why do you want to burden yourself, while technology can save the day? Today, scanning receipts have gotten easier than ever. You can simply scan and upload your receipts, whenever, wherever. Scanning receipts and eliminating manual data entry play a vital role in helping businesses streamline their expense management. Moreover,…
Expense Report Software for Small Business
Small businesses of today are growing at a rapid pace. The hyper-growth brings along with it, a set of repercussions. While some of these challenges have obvious solutions, some don’t; especially when it comes to the financial health of your business. Employee expenses are the second highest controllable cost in an organization. However, in most cases, managing employee expenses always takes a backseat. Here’s how ignoring employee expenses can affect your organization’s financial health: Bleeds money Loss of productive time Decreases financial productivity Hampers accounting Deprives an opportunity to save money with taxes Long reimbursement cycles affecting employee experience Here’s how streamlining expense reports help manage employee expenses: Shortens reimbursement…
Cash Advance Management in 2019
Let’s accept it – cash advances are essential. They are issued by the organizations to help cover employee business expenses. In most cases, the forms of payment are limited, yet different. They also are dependent on the expense type and amount. Cash advances specifically help complete minor business operations, where other payment forms are not a viable option. Some of the business operations that cash advances can help with are: Daily meals Local transport Utilities Today’s Broken Cash Advance Management Since every organization has multiple projects, business meetings, and travel expenditures, employees receive sufficient funds to cover their expenses. Managing these advances and subsequent expenses is pivotal to the company’s…
Receipt Scanner App Features for Business Expenses
Let’s accept it – paper receipts have done more harm than good to business expenses. It’s 2019, and yet they require your attention. To make matters worse, business expenses are not something any employer or employee can afford to ignore. For employers, here’s why receipt scanner apps are necessary: Avoid manual reminders to collect receipts Eliminate manual sorting and storage of paper receipts Save time that gets spent converting all paper receipts into digital assets Rely on manual duplicate detection Loss of the finance team’s productivity due to non-automation of mundane tasks For employees, the frustration goes way beyond. Below are the reasons why employees should use a receipt scanner…
Per Diem Rates for Business Travel Expenses
Employee expenses are the second largest controllable cost at every organization. As a best practice, organizations usually have enough predictability around the type of travel expenses incurred by certain employee groups. While we can predict how the organization can control expenses, it is not manually feasible to control employee expenses when on business travel. Enter Per Diems/Per Diem rates. Per Diems are a fixed non-reimbursable allowance paid to employees during travel. Traditionally, Per Diems only included daily stay. But modern business travel demands are increasing and hence, demand more than just stay. Today, ideal Per Diems include non-reimbursable allowances for Daily lodging Meals Incidental expenses Transport Per Diems not only…
Using non-reimbursable entries in expense reports
Traditionally, expense reports have been used in the context of reimbursements only. Employees collect receipts for all business expenses at the end of the month and compile them for approvals. But what happens when a business expense was already paid for by the business? In many processes, submitting receipts is necessary even though the expense was already paid for. For users of Fyle, such receipts are marked as ‘non-reimbursable’ expenses. In this article, we explore why and how businesses make use of this feature. Why submit receipts for non-reimbursable expenses? Governments and compliance authorities have a clear mandate for companies to show every business spend in their books. And for…
How to report expenses with Square’s Automatic Receipts
If you recently visited a bar, restaurant or grocery store, you probably checked out using a Square POS. Square is revolutionizing how small businesses build and grow their sales. Their seamless experience is synonymous to convenience for consumers. The one reason why so many businesses rely on Square is because they directly provide digital receipts to consumers via email or text. At Fyle, we understand that the plethora of digital receipts in your inbox can be overwhelming. To lessen the burden, here’s how you can report any transaction made at any Square seller store to Fyle. How Square works Step 1: You are required to share your email address for…
Revamped Analytics, fresh new Policies, and more – This month at Fyle
May at Fyle was all about augmenting policy enforcement for organizations while enhancing employee experience. We’ve tackled problems that are often ignored because of defective processes. If that wasn’t enough, we’ve even found a way for organizations to gain absolute control over their expense management. This month’s releases include exciting new features for both – employers and employees. FOR EMPLOYERS Introducing Analytics that you’ve always wanted! 🤩 Analytics (beta) is finally here! Now, employers can seamlessly understand and rationalize current company spends. Further, employers can forecast and eliminate high-risk factors like frequent policy violators, unauthorized weekend/holiday expenses, etc. Fyle enables businesses to optimize and streamline processes, improve financial productivity and…
How to Choose The Best Expense Management Solution For Your Business
If you’re reading this, it’s likely you’re looking to upgrade your expense management solution or at least considering it. Although the advantages of doing this are numerous and obvious, we’ll start by pointing out some broad business benefits of upgrading your expense management solution.
Receipt Management for SMBs with Fyle
Let’s face it – small to mid-sized businesses have it hard when it comes to finance management. Businesses with a rapid growth stage are usually busy chasing other goals. The scope of financial management is vast, but most of it ends up taking a backseat with businesses looking for scale. There is rarely a dedicated finance team, and most of the finance, payroll, accounting is outsourced. This spells disaster. The result of this – most of pre-accounting, the daunting task of receipt tracking, receipt collection and end-to-end receipt management falls in the lap of Human Resources. In worst case scenarios, a single mail (usually copied from online sources), is sent…
