• per-diem-expense-report-expense-reporting

    Everything you need to know about a per diem expense report

    Does your business offer it’s traveling employees per diems? In that case, you’re most likely looking for an effective way to manage and record your employee per diem expenses. An ideal way to do so is by using a per diem expense report.  In this article, we discuss the nuances of a per diem expense report and why it matters for your business. What is Per Diem? Some companies prefer providing corporate credit cards to manage business expenses. Others prefer reimbursing out-of-pocket expenses post-trip. However, there is another way wherein you give a daily fixed allowance to help employees with business travel expenses. These allowances are known as Per Diems.…

  • Cell phone reimbursement guidelines for business

    Cellphones are increasingly becoming an essential business tool. According to a survey by Oxford Economics, close to 80 percent of the organizations said that employees couldn’t do their job efficiently without cellphones. Despite being an integral part of daily work, many companies still do not have an effective cell phone reimbursement policy in place. The cloud of ambiguity hovering around cell phone usage has put the finance department in a fix, not knowing how to handle them.  In this article, we discuss the guidelines one must keep in mind while devising a cell phone reimbursement policy. Additionally, we also discuss how Fyle can make cell phone reimbursements effortless for your…

  • Travel-expense-report-reimbursement-using-fyle.jpg

    How to achieve faster reimbursement for travel expense reports?

    Delayed reimbursements are a cause of frustration for many.  It is quite difficult to attribute this delay to anything in particular. Employees file their expense reports only after they return from their business travel. Once it is filed, the expense report has to go through multiple approvers, before it reaches the finance team for reimbursements. On the other hand, the finance team receives a multitude of expense reports on a daily basis. They have to go through each of them before processing payment. This further adds to the delay. This sort of manual expense reporting is exhausting, and not to mention, time-consuming.  In this article, we discuss how automation can…

  • customer-reviews-expense-management-software

    How user reviews help pick an expense management software

    Choosing an expense management solution that suits your business requirements can get stressful. Ironically, an expense management software simplifies expense reporting, but the process of choosing one is far from easy. There are multiple key points one needs to keep in mind while zeroing in on the potential solution such as;  How easy is it to use the product? Is it easy to implement the product in your organization? Can the software handle policy compliance? Does the software take care of expense analysis? Does it provide free customer support? There are plenty of expense management solutions in the market, but it is not a ‘one-size-fits-all’ scenario. This is where user…

  • expense-reporting-forms-disadvantages-fyle

    4 data points your expense reporting form does not capture

    Company growth and business expenses go hand in hand.  On one end, your business is doing well. Your existing customers love your product/service, and you have been acquiring new customers at a growing  rate. On the other hand, your salespeople have been traveling all the time, meeting prospects and closing deals. These business trips entail numerous expenses such as air tickets, accommodation, meals,  entertainment, etc.  While it is great that you have revenue coming in, it is equally vital that you account for the money that goes out. Most companies set aside a portion of their budget for Travel and Entertainment (T&E) expenses. The finance team has to account for…

  • review-and-approval-of-expense-reports-fyle

    How to review and approve expense reports?

    Expense approval seems effortless on the surface. The secret lies in a click of the button. If you are still doing it on paper (which you shouldn’t,) a signature is all it takes. As a finance executive, you are already knee deep in paper-work. You need to prepare the financial statements, handle budget planning, prepare revenue forecast and so on. Among such tasks, usually, expense report reviews are down the priority list. When you are reviewing and approving heaps of expense reports daily, you may overlook a few violations here and there. We understand it is not intentional. Although the mistakes in expense reports doesn’t seem like a big deal…

  • Importance-of-T-and-E-expense-reports-fyle

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

    T&E expense is an inevitable part of any growing business. The percentage-use varies based on the company size. Nevertheless, companies have to still allocate a part of their budget for T&E.  A recent report by JP Morgan’s report sheds light on Corporate T&E spend benchmarks. According to the report,  Fortune 500s spend close to one-third of their T&E spend on travel, which is more than how many media to large enterprises would spend. Though non-travel spends are much lesser in Fortune 500s, they take up close to 17% of the T&E budget in mid-sized to large business. What this essentially means is, no matter the size of your company, T&E…

  • financial-productivity-fyle-expense-management

    How to Increase Financial Productivity with Fyle’s Audit Trail

    Did you know, companies all over the world spend close to half a million dollars and 3,000 hours correcting expense reports? Auditing your expenses is no easy feat. You have to go through countless spreadsheet columns, match them with corresponding receipts, validate expense entries and reconcile them with card transactions. The traditional means to expense management is tiresome, error-prone, and not to forget,  severely time-consuming. At Fyle, we respect your time, and  aim to improve your financial productivity. Our Audit trail feature keeps you informed of every transaction that happens in your organization, helping you maintain a spotless Audit Trail, which will eventually help your business grow. With Fyle, you…

  • Best Practices to manage Corporate Credit Cards

    Indispensable. That is what corporate cards are becoming in the business world. In fact, according to a report by the Wall Street Journal, an increasing number of companies are adopting corporate card programs for their business. And the reasons are multifold. To mention a few here; Finance folks can manage the cash flow better, since cash advances would become a thing of past. It Improves the business credit of the company, which, in turn, will help your business grow.   Employers can enjoy the incentives (rewards, cashbacks, miles, etc.) that come along with credit card usage. Employees wouldn’t have to wait for their reimbursement. Just swipe the card, and they…