Expense management automation

Your guide to 2020 IRS mileage rate

January 7, 2020
Min Read

Does your business reimburse employees for mileage? If so, did you know the IRS revises the standard mileage rate each year? 

After a significant increase in the mileage rate for the use of a personal vehicle for business purposes in 2019, this year the rate has slightly decreased. 

Below, we have compiled the latest information on the mileage rate published by the IRS (Internal Revenue Service). Let’s dive in!

The new standard mileage rate for 2020

There have been some significant changes in the mileage rate this year. These changes will be applicable, starting from January 1st, 2020. The new IRS standard mileage rate can be used by taxpayers to calculate the deductible costs for operating a vehicle for business, medical, and charitable purposes.

Some points to be noted are:

  • For the business use of a car, the rate has dropped down to 57.5 cents per mile. (0.5 cents lesser than 2019.)
  • For medical or moving purposes, the rate has changed to 17 cents per mile. (3 cents lower than last year.)
  • For charitable purposes, there has been no change and will remain 14 cents per mile driven.

The standard mileage rate is set based on the annual data compiled for the fixed and variable costs. This includes repairs, maintenance, depreciation, insurance, tires, gas, and oil. For the mileage rate of medical and moving purposes, it is calculated based on just the variable costs.


Policy considerations for mileage reimbursement

Non-profit expense reimbursement guidelines and best practices

Volunteer mileage rates and IRS reimbursement guidelines

2020 standard mileage rate under Tax Cuts and Jobs Act

The current law, Tax Cuts and Jobs Act states the following:

  • The miscellaneous itemized deduction for unreimbursed employee business expenses is suspended from 2018 to 2025. 
  • Employees cannot use the standard mileage rate to claim expenses during the period mentioned above. 
  • Taxpayers cannot claim expenses for moving purposes as well. But an exception applies to members of Armed Forces moving to a permanent change of station under military order.


1. The depreciation portion of the standard mileage rate will be 27 cents per mile. (1 cent more than in 2019.)

2. Under the fix-and-variable-rate (FAVR) plan, the maximum standard automobile cost is $50,400 (the same as 2019) for all automobiles.

Your comprehensive guide to IRS mileage reimbursement

Fyle helps you in using Google Maps to track mileage

How to log mileage in under a minute with Fyle?

2020 mileage rate for your personal vehicles

Employees may usually use their vehicles to run office errands. In such cases, the IRS mileage rate is a useful benchmark for calculating mileage expenses to be reimbursed to employees. It also plays a vital role in ensuring policy compliance. 

Maintaining a mileage record can help your team calculate, analyze, and monitor every cent spent on the business. Additionally, employee handbooks and mileage log records can be used as reference points by your finance teams to make well-informed business decisions. It also helps detect and curb any expense fraud.

Are you interested in getting an accurate and reliable mileage calculation for your employee mileage reimbursements? Schedule a demo with Fyle to learn how you can incorporate the latest IRS mileage rate into your policy!

Product update

2019 so far at Fyle - more than 10 new features and other amazing updates! 🚀

June 20, 2019
Min Read

2019 has been quite a ride at Fyle. We’ve taken huge risks, and they’ve given us great results. Our product has consistently seen fresh updates, ensuring our customers get the best out of Fyle.

Every release in 2019, thus far, have been active steps towards holistically improving expense management. Without further ado, let’s dive in.

Better expense reporting and receipt management 📃


With Bulkfyle, users instantly upload multiple receipts, from their computer, Dropbox, or Instafyle (Fyle’s mobile app.)

Differential mileage rates

Admins configure differential rates that automatically change the applicable rate based on the distance logged.

Gmail add-on

Employees directly report expenses from their Chrome browser or Gmail mobile app. Additionally, they also match expenses to corporate cards, add them to existing Projects, and more.

Draft Reports

Employees add expenses on-the-go using the web or mobile app to report expenses without submitting it for approval.

Simpler cash advance management 💵

Advance request policies

Employers control the spending actions of specific employee groups by limiting the number of requests raised, the capping amount, skipping system approvers, and more.

Cross org approvals

Approvers approve advance requests from any of their entities/organizations within Fyle, without any hassle.

Advance request approvals on mobile

We’ve worked hard to reduce the need for accessing Fyle through the web. Now, approvers approve all advance requests from their mobile app, at their convenience, with a single click.

Easier corporate credit card management 💳

Reconciliation from everywhere

Employees reconcile transactions to expenses directly from the mobile app, the Gmail add-on, or the Chrome extension.

Automatic reminders

Finance teams set up automated reminders for employees to match card transactions to reported expenses.

Stronger policy enforcement engine 🚨

An upgraded policy creation module

Employers easily implement complex policies within Fyle. These are for specific employee groups, levels, departments, against expense categories, and more.

Holiday list

Employers configure company holidays and raise flags for expenses created on holidays.

Expense receipts

Finance teams ensure compliance by making receipts mandatory for company-wide expenses, with just a single click.

Advanced travel expense management ✈️

Revamped trip requests

Employees don’t just raise a pre-trip authorization but also transport and stay booking via the web or mobile app.

Trip request policies

Finance teams now control actions of specific employee groups by limiting the number of trip requests raised, capping transport/stay bookings, skipping system approvers, and more.

Personalized trip requests

Finance folks now enable trips for specific employee groups. They also include custom fields in the trip request forms.

Cross org approvals

Approvers approve trip requests along with transport/stay bookings from any of their entities/organizations within Fyle, without any hassle.

Fresh, upgraded Analytics 📊


With Fyle, employers now rationalize current spends, forecast high-risk factors, optimize processes, enhance their team’s productivity and more!

Enhanced performance and experience 🙌

Hourly refresh

We’ve reduced the time to acquire actionable data in Analytics from 24 hours to 1 hour!

Access delegation

Admins now directly delegate access to their account using the mobile app.

Dynamic forms

Employers control the display of expense categories based on Project selected.

It’s a wrap! 🎬

If 2019 wasn’t already loaded with enough new features, we’ve added one more this month to ensure a breezy review of your expenses.

Now, all expenses that have incomplete information and need review will appear in a new ‘Draft Expenses’ tab, instead of our otherwise ‘Needs Review’ tab.

You can click on ‘Start review’ to swiftly solve them all, one expense at a time.

If you like what you see, be rest assured we have more!

Travel Expense Management

Travel expense management

The future of travel expense management in an automated world

July 28, 2018
Min Read

Business travel is often looked upon with envy by people who don’t get to undertake journeys to distant lands. And why not, all of us have that one friend who takes a flight to Dublin, drowns himself in “some” good Irish whiskey, and on top of that gets reimbursed for everything he spent on.Wait a sec! Everything?Yeah “almost” the full claim amount, he just needs to submit all the receipts for his expense, make sure that he doesn’t violate an expense policy when he’s three shots down, and wait for some mistake to be pointed out by finance.This has been the story so far of our average business traveler who flies miles on a mission to achieve the revenue forecasts for every quarter.

Business travel is here to stay

We often hear statements such as, “It’s too easy to sell these days, you have access to the global market.” What many of us completely overlook is the fact that our competitors have access to the same market. The highly competitive nature of markets has forced businesses to double down on product differentiation but along with the innovation comes the challenge of marketing and selling the same, which requires business travel.The complex sales cycles for many industries require frequent travel for employees, especially in sales and marketing. Equipped with data on competition and potential customers sales reps are getting better at providing personalized offerings. Such a high-touch approach usually requires multiple meetings with various stakeholders, and these may be hosted at the local brewery or the nearest pizza joint.According to GBTA, business travel will witness a CAGR of 5.8% over the next few years with global business travel spend reaching $1.6 trillion by 2020. With a more high-touch sales strategy, business travel expenses might also see a significant bump in entertainment, corporate gifting, and general travel related expenses.

With frequent travel comes the rise in selling expenses

Increased travel implies that the total cost of food, accommodation, and other expenses will rise along with the number of transactions. In order to ensure that the multitude of transactions impacts positively to a company's bottom lines, finance requires tools for implementing effective control measures.A comprehensive travel program assisted with a robust travel expense policy can make business travel the most rewarding of all sales channels. In fact, business travel expenses are one of the most controllable of an organization’s selling expenses.

The need for automating travel expense management

When it comes to controlling costs in business travel, the first problem finance encounters is that they don’t have enough data to base their decisions upon. Already fed up of the entire reimbursement process, everyone from the employee to the finance team, just wants to get done with it. The thought of using the expense data doesn’t even come to the mind until the higher management asks them to furnish all the information on selling expenses. The problem with such an approach is that with delays visibility is undermined. Instead, if the expenses could be summarised on a department or deal level, performance could be gauged much more efficiently, on a weekly, bi-monthly or monthly basis. Alternatively, with data pouring in on a daily basis, decision-makers aren’t left handicapped when figuring out answers to critical questions.According to an article by McKinsey, CFOs are regularly identifying key areas in finance which could benefit from automation. Finance operations and reporting are the segments which could yield high returns in the long run just by tapping into the wealth of real-time data. Expense management is one such area in finance operations which once automated can be controlled to deliver value for the organization. This is a far-fetched dream right now for organizations still using effort-intensive approach to expense management, whether it be a manual system or legacy software.The same article also notes that finance professionals often wait for other functions like sales, marketing, or IT to initiate digital transformation for critical processes. This has often been the reason behind the slow rate of adoption of technologies in the finance function.

What will the future of travel expense reporting look like?

 Automatic extraction using OCR

Optical character recognition or the technology which helps us to electronically translate printed text to machine-encoded text is on the rise. Using automatic extraction a traveling employee will be able to extract receipt information like amounts, vendor names, and invoice number.The challenge though is the accuracy with which OCR is able to translate physical text into electronic one. A reliable system also assigns the appropriate category to an expense using markers such as vendor names, and receipt items. Business travelers today click pictures of their receipts but are still seen entering information into expense entries. Eventually, no one will make data entry.

Bulk filing of expenses

Going a step further is acknowledging the fact that no traveler wants to be going through expenses every now and then. The ideal experience would be click pictures of all receipts, and at the end of the trip use them to create an expense report.This will soon be a reality, because if the first challenge of extracting information accurately has been overcome, what follows is overcoming the computational load on the application. In fact, we at Fyle, are already working on something and will soon share something with you.So, eventually, all an employee would do is select all receipt pictures in his mobile’s gallery and expenses would be created in an instant.

Expenses will always be compliant

With, extraction in real-time comes the ability to check expenses for policy violations at the same instant. Imagine what AI-powered expense reporting could look like going further, a camera overlay on a receipt, you start getting inputs on the screen - “currency: Euro”, “amount: 250”, “category: alcohol”, “recommendation: don’t file this expense, you aren’t allowed alcohol on your expense account”.Well, this is already a reality, Fyle checks every submitted expense for a possible policy violation. Admins can filter out violations and make sure only compliant expenses are reimbursed, all this is done effortlessly.

Decentralized reporting

When you can report from anywhere at any time and still be sure that you’ll get reimbursed at the end of the month, why won’t you submit your reports on time? Cloud-based expense reporting has this advantage over on-premise solutions that it promotes decentralized reporting for all business units and employees while ensuring secure access to the system.Decentralized reporting again provides companies with real-time data on all company spending patterns from all distinct location it is operating from, which can be leveraged when creating policies or while forecasting profitability of deals.

Collaboration on all fronts

One of the difficult aspects of employee reimbursements is managing exceptional claims and pending approvals. These are challenging because they need active participation from the various stakeholders, finance admins, approvers, and the claimant.A good expense management system allows employees to resolve claim disputes within the system using in-app communication while maintaining an audit of all edits. Custom messages to managers reminding them to approve pending expense reports can again facilitate speedy reimbursements. With, collaboration taking center-stage in our world, it will probably be a highlight of the future of expense reporting.

We are almost there

If you have read this far, we would like to make you aware of a few developments at Fyle. Our engineers have built the world’s first automatic data extraction engine for paper and e-receipts and the accuracy of extraction is mind-boggling. With a powerful policy engine, we have helped our customers eliminate violations and reduce reimbursement turnaround times to up to a third of the original time taken.If you think you would like to transform expense reporting at your organization, you can request a demo with us or start a free trial right away.

Travel expense management

How to Create an Expense Report in Under 5 Minutes

March 19, 2020
Min Read

Dear Small Business Owner,

There are 4 things you need to know about expense reports.

  1. They are important for businesses of all sizes.
  2. They are not just for employee reimbursements.
  3. They contain data that’ll help you cut costs and plan better. 
  4. They help you stay compliant.

Every finance team ever.

Even a small team incurs business expenses like transportation, meals, travel, and other incidentals essential for business operations. It is vital to record these expenses and have accurate reports of the same. We’ll tell you how to create an expense report in under 5 minutes and ways to make it easier too.


What is a T&E report and why is it important?

How to create an Expense Report?

Simple, you can just google it. You’re spoilt for choice when it comes to easily downloadable options. In fact, you can even find expense report templates in Microsoft Excel.
But is a generic template off-the-internet the best choice for your company?

Here’s a list of essentials that your expense report must contain:

  • Name, department, project name and contact information
  • Names/ codes for expense itemization
  • Date when the expense was incurred
  • Purpose of expense
  • Receipt as proof of expense
  • Actual expense amount, i.e., how much the company has to pay.

This checklist can be a start, but you should tailor your expense report to fit your business’s needs. If you don’t, it becomes an unproductive, time-consuming task for all stakeholders involved.

A to-do list for employees:

  • Safekeeping of all receipts related to business expenses.
  • Recording and reporting one receipt at a time through manual data entry.
  • Matching receipts with corresponding spends and projects.
  • Chasing expense report submission deadlines.
  • Chasing the financial team in case of policy violations or delayed reimbursements.

A to-do list for finance teams:

  • Chasing employees to submit expense reports.
  • Manually verifying receipts, both paper and digital.
  • Checking for policy violations and compliance issues.
  • Understanding and reporting spends to business owners and other stakeholders.
  • Facing the wrath of IRS in the event of non-compliance.

That’s a lot of chasing and back and forth for a simple report.

Enter Expense Management Automation. Enter Fyle.

Fyle helps you save your crucial productive hours to tend to other daunting business tasks.

Does your business need expense automation?

In recent years new technology has not only made expense reporting and processing easier for employees, but it has also made it much more efficient and cost-effective for employers. A modern expense management solution is a must for any business that wants to ease the burden of tracking and reporting expenses for employees. Additionally, you need to make sure your business isn’t overpaying for fraudulent or non-compliant expense claims.


Benefits of online receipt management over traditional methods

How to achieve faster reimbursements for travel expense reports?

How to manage receipts to ensure your team is always audit-ready?

Here’s how Fyle helps make Expense Reporting easy!

We’ll just let our mission statement do the talking here.

“We’re creating a receipt management and expense reporting suite so good that you never have to think about managing business expenses, ever.”

The numerous ways in which Fyle allows reporting is a small testament to the sincerity of this statement.

Got a paper receipt?

  • Scan it with smart OCR in the Fyle app.
  • Click a picture and send to Fyle directly from your gallery/ WhatsApp.
  • Or, manually upload from your computer, Dropbox or Google Drive.
  • Send your receipt as a text and see it in Fyle as an expense.

Got an e-receipt?

  • Fyle expenses directly from your inbox using our Chrome extension, G-Suite add-on, or Microsoft Outlook add-in.
  • Submit recurring expenses from apps like Uber and Lyft directly using Fylemail.
  • Or, simply click on “Find my receipts” and sit back while Fyle discovers and categorizes receipts from your Gmail.

Got multiple receipts?

  • Upload multiple receipts anywhere, anytime and from a device of your choice using BulkFyle.

Fun Fact: One of our users once fyled 2609 expenses in a single go!

Traditionally, once you have uploaded all your receipts, you would then need to match the expenses to corresponding projects or categories manually. Once this is done, you would have to stitch them together to create and submit an expense report.

But Fyle handles this as well for you. Once you have matched the expenses, you can simply save or submit your expense report for approval.

On creating the expense report, it can be sent to the approver for approval. Fyle also runs real-time policy checks on all submitted expense reports to detect and flag duplicate and fraudulent expense claims. We also flag and notify both the user and the approver in case of a policy violation.

This is how we’ve made a historically time-consuming task, expense reporting, a breeze.

Don’t believe us? Allow us to demonstrate. Schedule a demo now!


Travel expense management

The How-to Guide to Building a Corporate Travel Policy

February 25, 2020
Min Read

Did you know that companies spend roughly $1,425 for every employee they send on a business trip? It’s true; corporate travel spending is expected to hit $1.7 trillion by 2022!

Your employees are always on-the-move to meet business goals. This requires them to physically run around, lose out on sleep, stay pressured about closing deals, and burn a hole in their pockets, while at it. This costs them more than what reimbursements can cover.

Thus the onus of employee well-being on business travel - mental, emotional, and financial falls on the organization. Striking the perfect balance between employee morale and compliance is difficult, but we can help. Let's take you through the best practices for corporate travel policy.

What is a Corporate Travel and Expense Policy?

Essentially, a corporate travel policy is a document that outlines guidelines for all spending, reporting, and tracking of business travel expenses. The finance team crafts these policies to ensure employees understand company procedures for business expenses and reimbursements. 

Why do businesses need a corporate travel policy?

A company’s travel policy and procedure should adhere to IRS rules and regulations on employee travel business deductions. According to the IRS, a business expense should satisfy the following conditions:

  • The employee must be carrying on a trade or business that's a necessary expense that helps the company to make a profit.
  • The travel expense must also be appropriate for your trade or industry. 

Creating a travel and expense policy is a critical step toward controlling business travel expenses. It is also a vital step that ensures your business never runs into trouble with the IRS. To help employees stay compliant, they would first have to understand your corporate travel policy. 

Your corporate travel policy has to be simple to read, easy to digest, and straightforward to remember.

Essentially, it has to cover a handy check-list of:

  • What employees can spend on while on a business trip
  • What is reimbursable and what is non-reimbursable
  • How they can report their expenses
  • How they can track their reimbursements

Suggested Reads:

International per diem guidelines for 2020

Guidelines to create an effective candidate reimbursement policy

Benefits of having a Corporate Travel Policy

The lack of a corporate travel policy does more damage than meets the eye. Here are a few major drawbacks:

  • Overshooting budgets
  • Delay in momentum
  • Employee non-compliance
  • Trouble with tax authorities
  • No defined approval workflow

Additionally, the lack of a streamlined process can result in poor traveller experience for your employees. This diminishes productivity and lowers morale. We mean, your employees sure have better things to do than worry about receipts and compliance when on a business trip, yes?

Here’s why your business needs a corporate  travel policy:

  • Ensures compliance with IRS tax rules
  • Streamlines your travel reimbursement process
  • Improves efficiency of travel booking and vendor selection process
  • Provides clear and concise business deductions
  • Enhances your employee travel experience and overall employee morale

Six must-haves in your company's Travel Policy

There are numerous aspects of business travel that you should take into consideration before drafting your corporate travel policy. After all, no one policy template fits all. 

We’ve listed the bare essentials that every business travel policy should comprise of:



Ensure this comprehensive document reflects the culture and unique needs of your business and employees.

Suggested reads:

Guidelines to create an effective international travel policy for employees

A guide to defining air travel policies for your employees

How can businesses achieve employee happiness and policy compliance?

Staying compliant with the set rules and regulations by the IRS comes with benefits. It means your employees won’t get taxed for additional income. Your audits won’t be under the radar for scrutinization. All this translates into your company, not worrying about fines and penalties.

On the downside, failure to comply with IRS business travel guidelines might result in the company being unable to use employee traveling expenses as a tax deduction.

In other words, just having a policy in place doesn’t translate to compliance. Implementation and effective enforcement define the success of your corporate travel policy. The easiest and most efficient way to achieve this is by automating your travel & expense management.

We say so because, with a T&E management software in place, you can:

  • Enforce policies with ease
  • Ease the expense reporting process
  • Organize receipts and spend data
  • Aid compliance with the IRS rules & regulations
  • Insight into all data via a unified dashboard

How can Fyle improve your Corporate Travel Policy?

Fyle is an automated expense management software that automates, streamlines, and simplifies the expense reporting process for all stakeholders.

  • Employees can strike off receipt safe-keeping from their priority list.
  • Managers or approvers can approve travel requests/ reports with one click.
  • The finance team can stay on top of budgets with real-time spend visibility and compliance.

How can Fyle help finance teams improve their corporate travel policy?

  • With Fyle, finance teams can not only create customizable policies but can also enforce it via custom notifications, reminders, and more. This translates into seamless enforcement of your corporate travel policy from the back-end.
  • Finance teams can effectively manage policy violations as Fyle runs real-time policy checks on expense reports. This means that Fyle does the flagging while finance teams can concentrate on other essential tasks.
  • Finance teams can leverage intelligent insights with our advanced data analytics. Further, with insight into these numbers, they can calculate potential risks and eliminate the possibility of fraud.
  • With reporting and compliance made easy, the finance department can steer clear of manual data entry, verification, and reconciliation. This not only increases your financial productivity but also ensures you are audit-ready at all times. 

How can Fyle help employees stay compliant?

  • Expense reporting for employees is a daunting task, especially for those who are always on-the-move. Fyle enables employees to report expenses from almost anywhere and by using any device! This makes expense reporting a truly one-click process.
  • On uploading expenses, our real-time policy engine runs a policy check to scan for policy violations. In case of a breach, the employee gets a notification regarding why the expense was flagged. This ensures the employee is aware of the violation to take corrective measures.
  • With no manual entry, no human error, or bias, Fyle enables employees to stay compliant. Staying compliant ensures employee expense reimbursements are not considered taxable income by the IRS

Our software is built for the businesses of today. We understand just how time-consuming and frustrating the process of expense reporting can be (for all stakeholders!). Our customer challenges pave our product road-map, and thus we created Fyle. 

Fyle helps all stakeholders stay happy, efficient, and compliant. To ramp up your T&E management, schedule a demo today!



Effortless expense management for all business spends. Earned time, saved costs, improved productivity, happy employees - achieve it all with a single software.

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Corporate Card Reconciliation

Corporate card reconciliation

How to use Fyle as a credit card management system?

November 19, 2019
Min Read

Does your finance team have a trusted credit card management system to manage all employee corporate credit card expenses effectively? 

Corporate credit card usage is on the rise due to its ease of use. With these cards, employees no longer need to worry about using their own money for business expenses. But with these cards, it becomes all the more critical to effectively track, monitor, and stay on top of things. If ignored, it can rack up extra chores for the entire team. Even worse, it could severely affect your company's bottom-line due to prolonged financial leaks. 

But how does one go about picking the right credit card management system for their business?

In this article, we talk about how Fyle as an expense management software can help your finance team tackle challenges related to credit card management and more. Let's dive in!

Does your business need an effective credit card management system?

Credit cards as a payment method have their own set of pros, but keeping track of spending can be difficult. Even a simple task can become demanding, taking up time and effort from your finance team and employees. Traditional methods for managing credit cards, bring with them a set of challenges that could pose a threat to the financial productivity of your business. Here’s why:

  • When you have multiple cards assigned to multiple employees, keeping track of usage becomes a challenge. 
  • With hundreds of incoming transaction statements, it’s easy to miss out or make entry errors while reconciling. 
  • When your finance team doesn’t have real-time visibility into the employee’s expenses, it can lead to fraud. 
  • Spotless accounting and staying audit-ready becomes challenging, potentially putting the business at stake with the IRS.


Best Practices to manage Corporate Credit Cards

Fyle as a credit card management system

Fyle has several features that can help you ease your corporate credit management woes. Our automated solution makes sure all the monotonous routines around expense reporting and corporate card management are taken care of. This spares extra time for your finance team to do more intuitive work and put their skills to better use. This also increases productivity and boosts the morale of your team as well.

Fyle as your credit card management system can help you achieve multiple goals in a short period. Here’s a look at some of them:

  • With Fyle, you can manage multiple cards and cardholders seamlessly.
  • You can track employee spends to ensure no overspending.
  • You can easily validate and reconcile credit card expenses with direct bank feeds.
  • Accounting and staying audit-ready becomes a breeze with a unified dashboard.

Assign and keep track of all your corporate credit cards

Irrespective of whether you’re a small business with few cardholders or a large enterprise with multiple cardholders, Fyle allows you to manage all your corporate credit cards with ease. Once your organization’s card feed is set-up, you can easily assign your company’s credit cards to your employees. Additionally, your finance team can also track and monitor all assigned and unassigned cards. This provides for a wholesome approach to effectively managing business credit card expenses. 

View and track all your corporate credit card expenses

On assigning cards to users, all the expenses incurred will be directly reflected in your Fyle account. The finance team can then view all the payments made using credit cards. They can also see which of the corresponding expenses are yet to be reported. Additionally, the team can filter and view expenses for desired timelines. Lastly, finance folks can also customize and send timely reminders to employees to match their expenses on time.

Get direct feeds from the bank

When multiple employees are assigned to various credit card providers, tracking all the transactions in their bank feed can be a demanding task. Fyle takes care of this problem by syncing all your corporate credit card details with direct bank feeds. By integrating directly with the bank providers, you can expect to get a clean feed in real-time. Additionally, we provide a reliable data flow of all your corporate card expenses. This ensures complete protection over your company’s bottom-line.

Handle credit card reversals

Sometimes a merchant may unintentionally charge twice for a purchase made through the corporate’s credit card. While it may not be a significant loss, it is necessary to make a note of for accounting purposes - duplicated charges can cause confusion and imbalanced records.

At Fyle, we understand finance teams can easily miss transaction reversals, leading to accounting errors. This is why we created our feature that seamlessly matches every expense to its corresponding transactions. 


In cases of extra charges, employees need to support their claim with the help of receipts and relevant expense entries.

Ensure seamless accounting

With a better credit card management system in your hand, you can stay prepared for the tax season as well as for audits. Fyle makes sure that your finance team stays ready without rushing or worrying at the last minute. Our expense management software comes loaded with features that can help your finance team tackle the challenges of accounting. Here are few such instances:

  • Finance teams can configure and send automated reminders to employees to match their expenses on time. 
  • With an automated reconciliation process, the finance team can stay tax-ready as well as exercise their skills in a more meaningful way.
  • Fyle can easily integrate and manage a wide array of corporate credit cards. Whether your employees use Mastercard, VISA, Diner's Club, or American Express, it can be directly integrated with the software.

Choose Fyle to effectively manage your corporate credit card expenses

Choosing to handle your corporate credit cards in the old-fashioned way brings numerous challenges tied to it. You may have cards from multiple card providers to suit your needs, but tracking its usage through disparate systems becomes a whole other problem. When you do not own a centralized software to track all cards, identifying assigned cards can be confusing as well. Additionally, when it comes to staying audit-ready, tasks such as reconciliation can become taxing on your finance team.

At Fyle, we understand the challenges that come with managing corporate credit cards for your business. Thus, we have come up with features that will ease the burden on your finance team. This means automating mundane tasks, easy integration, providing direct bank feeds, and matching expenses accurately. With our features available at your disposal, your finance team’s productivity can be optimized and enhanced to help meet business goals.

Want to know more? Schedule a demo with us today to see how Fyle magic works!

Corporate card reconciliation

How to increase the credit limit for your corporate credit card?

October 13, 2019
Min Read

Is your growing business in need of credit expansion? Does the current limit no longer fit your business needs? Do you require more from your existing corporate credit card?

If you decide the current credit limit does not satisfy all your business needs, you might have to request a credit limit increase. The credit limit is the maximum amount a financial institution will allow you to borrow. It also indicates the amount of power given to the cardholder to make purchases.

The lender’s decision to either reduce or increase your card’s limit depends on how well the card has been utilized. A delay in payment or a maxed-out card can reduce the amount of money assigned to your credit card. But successfully paying bills and maintaining a good history of card usage can help you increase your corporate credit card limit. 

In this article, we will see the factors that influence the increase in your credit limit. We will also discuss the pros and cons of a higher limit. Additionally, we look into some methods you can use to boost your chances.

Let’s start.

Factors that credit card providers use to decide increase in credit limits

When a request for a higher credit limit is placed, the credit card providers evaluate your creditworthiness. A higher limit would mean a larger amount of borrowed money. This is how a credit card issuer would assess if your business can handle a larger responsibility. The more your company looks like a responsible borrower, the greater are your chances.

Let us look at the factors that help the credit card providers to review your request:

  • Credit report

A credit report is a detailed breakdown of the card’s usage. It is a unique credit report provided by a credit bureau. Credit bureaus are an agency that collects financial details about the company and its paying habits. This is done to help the lending institution and credit card issuer to make a lending decision.

The report provided by the agency includes the company’s business background and financial information. It also includes credit scores and the company’s borrowing and paying history.

  • Credit score

Lenders and creditors require means to identify whether your business can repay the borrowed money or not. This is where credit scores come in. 

A business credit score generally ranges from 0-100. Your business scores provide an impression to the lender if bills can be paid on time. The higher the score, the better the impression. A higher rating can be maintained by paying bills on time and keeping debt low over a period of time.


Best Practices to manage Corporate Credit Cards

Pros and cons to consider before increasing credit limit

Increasing the credit limit helps a company gain access to more capital. But a more substantial credit card limit can create higher debt risk. The following pros and cons of a higher credit limit should be taken into consideration.

Pros of an increased credit limit

  • More purchasing power

A higher credit limit can undoubtedly give you access to a bigger capital. This can help your business to make more significant purchases. A corporate credit card with a higher limit can also increase the frequency of purchases.

  • Acts as an emergency spending cushion

Sometimes, you might have to make a purchase that is more than your typical purchasing capacity. A higher credit limit can provide your company with an extra helping hand to make such emergency expenses. Higher credit helps you with resources that you can’t pay off, immediately.

  • It can increase credit score

Increasing the credit limit can naturally increase the credit score for your business. This is because the card utilization ratio also decreases. A higher utilization ratio can indicate the credit card bills are not paid in time, and there’s overspending.


The card utilization ratio is expressed in percentage. It can be obtained by dividing your total credit balance by the available credit limit.

  • Increase in rewards

If you consistently pay off your balance and on time, it will help you to earn more rewards. Making full use of the corporate credit card and paying on time won’t cost you anything but it can help you reap rewards. The rewards you cash in can help you reduce expenses on hotels, airfare, supplies, etc.

 Cons of an increased credit limit

  • Bigger risk of increasing debt

More expenses mean more bills to pay. Getting a higher credit limit can help you make more expensive purchases. But bigger pending bills can only increase your debts towards the lender. If your company is unable to keep with the large expenses, it can possibly drive the business towards losses.

  • Higher interest 

A higher lending price means the interest value is higher, as well. Any pending payment from the previous billing cycle is charged with interest until repaid. If you habitually carry balances in each period, the interest can rack up. This can cause you to pay more in addition to your principal amount.


How can policies help in the corporate credit card reconciliation process?

3 ways to boost your chances to increase your credit limit

The decision to increase the card’s credit limit lies in the hand of the credit card providers. But you can increase the probability of getting it approved. Maximizing credit score, being financially responsible, and carefully monitoring your card activity can boost your chances.

Here’s how you can raise your chances to get approved:

1.Work on your credit score

We know lenders look at the corporate credit card score to make business decisions. Credit card scores are an impression of your payment history and debt level. A low credit score can instantly put them off and make your business look unreliable. Making on-time payments and avoiding long-term payment of debts can affect your credit score. 

Maintaining a number of accounts can be used as an added advantage to work on your credit score. Having multiple lines of credit with a perfect history of payments can project that your company is serious about its finances. Thus, the credit card provider also develops a sense of trust after looking at your good credit score.

2. Pay off your debt

Having an outstanding balance is seen as a risk for the credit card provider. This stands, even if you plan to avoid interest charges by making the payment each month. This causes a concern for the creditors as this exposes them to losses.

Therefore it is wise to clear off debts before applying for a limit increase. A credit report reflects all the company’s debt and outstanding credit card balances before the cycle closes. Even if your company is unable to pay off everything in full, eliminate debt as much as possible before the statement cycle closes. The credit report will have less to show even if there’s a pending debt. This will increase your chances of getting approval for a higher credit limit.

3. Regularly check your credit report

A credit report plays a central role in the lender’s decision as well as for your business’s growth prospects. A credit report dictates the approval or denial, terms of repayment, interest, and terms of debt financing. Ensure you handle this process with care, as a bad credit report can reflect poorly on your company. 


1. Take time to check your credit report and see if there’s any room for improvement. 

2. It is advisable to obtain a credit report from the credit card bureau every 6 months. 

3. In case there are any errors, inaccuracies, or outdated information, contact the agency to make the appropriate changes.

4. Mistakes can happen with credit card bureaus, as well. Monitoring your credit report regularly can help to maintain the company’s reputation and keep it in good standing. 

How can an expense management software help increase your credit limit?

Increasing the credit limit for your corporate credit card revolves around effectively managing your card history. By now, we have already established how missing bill payments and late payments can put a dent on your credit history. We have also seen how it reduces your chances of getting a hold on higher-powered credit cards.

Additionally, juggling multiple cards can prove to be a challenge. As your company continues to grow, not only will you have to manage numerous cards but also have to take care of bill payments. Making timely payments, as discussed, thus becomes a deciding factor for your credit report and score impression.

This is where an automated expense management software comes into play. Take the help of an expense management software for seamless credit card management and expense reporting. Additionally, an automated software like Fyle comes with features custom-designed keeping the modern employees and finance teams in mind. Our mission is to help you easily manage multiple cards so that you can focus on improving your overall expense reporting processes.

Schedule a demo with Fyle today to learn how you can seamlessly manage and streamline your expense management processes with ease!


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