• guide-for-air-travel-policy-for-employees

    A guide to defining air travel policy for your employees

    Did you know corporate travel spending is expected to hit $1.7 trillion by 2022? It is now more critical than ever for businesses to have a capable T&E software to control travel spends.   With the growing number of employees that travel on business, companies must have a clear air travel policy in hand. An air travel policy helps trim and eliminate out-of-policy and fraudulent expenses around business travel.  In this article, we look at how to create an effective air travel policy from ideation to implementation. Additionally, we list down some of the best practices around seamlessly adopting and enforcing these policies within your organization.  What does an air travel…

  • create-employee-expense-reports-in-quickbooks-online-with-fyle

    How to create employee expense reports in Quickbooks Online with Fyle?

    Expense reporting is loathed across the globe by employees. Manually entering all receipt information into Excel-based report sheets is time-consuming and demoralizing. Yet it is prevalent today. But times are changing, as advances in technology have given rise to SaaS solutions to help curb the issue of expense accounting and management. These are known as TEM or travel and expense management software. TEMs are changing the way businesses and individuals deal with expense reporting by redefining and enhancing the entire process. For accountants and employees, creating and approving expense reports and reimbursing employees is a hassle when using Excel sheets. To help fix this, Quickbooks can be integrated into Fyle…

  • expense-management-software-help-real-estate-agents

    How expense management software helps real estate agents?

    Whether you work independently or work with an agency, keeping track of all your business costs and operational expenditure is tricky. Manually keeping track of every single expense is annoying, especially when dealing with many clients and traveling all over the place. Additionally, expense reporting becomes doubly important when it’s tax season. Otherwise, you may end up with a huge financial mess. The new advent in expense tracking and reporting has opened other ways for real estate agents. Expense management software has solved many of the issues faced by various individuals and businesses alike. However, TEMs are seen as solutions to only large companies and are not known by real…

  • can-web-based-expense-management-reduce-reimbursement-time

    Can web-based expense management reduce reimbursement time?

    Employee expenses are in a bind when the time comes to get reimbursed. Sometimes they make a mistake, and that delays the rest of the process. Sometimes an inefficient expense reporting process itself can cause problems. There is cause to believe that both sides of the reimbursement mayhem can be improved. But where do you begin?  One of the critical signs that a business’s expense management system truly works is seeing how fast an expense takes to get reimbursed. That gets us back to the process, so can companies benefit from making a change in that aspect? Let’s find out. What is web-based expense management? Expense management or Travel and…

  • create-reliable-expense-management-process-for-travel-managers

    How to create a reliable expense management process for travel managers?

    During a business trip, your traveling employees need to lug around not just their luggage but also their receipts for business expenses. If they happen to lose out on these receipts, they may end up losing out on their personal money. This can disrupt employee motivation resulting in them avoiding business travel.  To help ease out these problems, most businesses take the help of travel managers. Travel managers help streamline business travel for your employees. They help with hotels, flights, and sometimes even local travel while on a business trip. A travel manager needs to consider numerous aspects of expense management for global business travelers. This makes the process complicated.…

  • per-diem-meal-allowance

    What is the standard per diem meal allowance for 2019?

    The Tax Cuts and Jobs Act (TCJA) changed a lot about the long-standing IRS per diem rate rules and regulations. The IRS per diem rates 2019 isn’t a category most people expect when considering the Tax Cuts and Jobs Act changes. But effective on and after October 1, 2019, the per diem rate has changed. There are significant changes you need to be aware of regarding these changes the next time you have to travel for work. The changes go from what you can deduct as expenses to the elimination of whole categories you used to be able to record for reimbursement on your expense report. Read on to discover…

  • common-blunders-small-business-travel-booking

    Common blunders in small business travel booking

    Corporate travel can be a stressful affair. When it comes to startups and small businesses, it can be easy to commit mistakes leading to turbulent business trips. Do you lack a travel policy? Or maybe a travel manager?  Smaller businesses feel like they can’t or don’t need to invest in things that cost them. Yet the truth is that they can gain a lot from them. A recent study revealed that, “Businesses spend roughly $1425 for every employee they send on a business trip.” The solutions employed by large enterprises don’t have to be exclusive to them, smaller businesses can also equally (if not greatly) benefit from having those set…

  • expense-report-audit-best-practice-accountants-fyle

    Expense report audit best practices for accountants

    Do you conduct regular audits at your organization? Are you aware of the expense report audit best practices you must follow?  Audits are essential in an expense management cycle. It is usually conducted before or after reimbursements. It is a vital process as it helps highlight potentially threatening concerns that go unnoticed, otherwise. It is also a great way to ensure your employees stay compliant with your expense policies.  But how does one go about this process? To help you navigate through your business expenses, we’ve created a list of expense report audit best practices for accountants and finance teams. Let’s dive in!  Why should you audit your expense reports?…

  • benefits-of-online-receipt-management-fyle

    Benefits of online receipt management over traditional methods

    Companies of all sizes still follow some form of traditional receipt management, and employees find it to be a tiring and cumbersome process. This often leads to delays when submitting their expenses in order to get reimbursed.  Accountants have to validate each expense after cross-checking it with the company rules and policies. This whole sequence of events causes numerous problems that affect the productivity of the business and employees. Sadly, this is still the standard process that’s followed by many companies. However, can businesses gain from switching to online-based receipt management? Let’s discuss. Paper based expense report forms You can find paper receipts everywhere, and both employees and accountants are…

  • evaluation-checklist-for-expense-management-software-fyle

    Evaluation checklist for enterprise expense management software

    When selecting a new expense management software, there are various factors to consider. It’s not just about the features offered by the vendors. It’s important to look at what the business itself needs. Is the software cost effective? What are the deployment options? Can it adapt to the business as it changes? Larger enterprises are in a pinch. Their requirements to switch to a better expense management software are real. But the scale and scope at which the organization operates might create confusion and doubts as to what exactly are their needs. To help you through this process, we’ve created a handy checklist for you that breaks down the nitty-gritties…