• expense-report-form-mandatory-fields

    How to track expenses on an expense report form?

    Creating a custom-made expense report template is a time-consuming task. To help save on time, most businesses opt for a readymade free expense report form or template. These templates are generic and try to accommodate for the general needs of a business. The most commonly used templates are Word, Excel, or Google Sheets. But should you use an expense report form without any customization?  Customizing your expense report form can help add a sense of objectivity while gauging and streamlining your expense management. Hence, businesses must not stick to the available templates. Instead, use a template to build upon with fields specific to your business. In this article, we try…

  • Travel Expenses Per Diem rates with Fyle

    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…

  • Non-Reimbursable Entries in Expense Reports

    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…

  • Report Expenses from Square

    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…

  • Product Update from Fyle this May

    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…

  • Manage corporate credit cards with Fyle

    Major Challenges in Corporate Credit Card Management

    The usage and adoption of corporate credit cards are on the rise. If your company isn’t already using them, chances are high that you’ll start using them soon. Employees on business travel prefer spends using corporate cards. This is primarily because it is easier and convenient. The advantage of cards is that employees don’t feel an added financial burden while traveling. Though corporate cards ease the employee’s spending pains, they introduce challenges for accountants overseeing these card programs. In this article, we discuss some pressing challenges finance executives face while managing corporate credit cards. We also lay emphasis on how an expense management software can help address these pain points.…

  • Control employee travel and business expense costs with Fyle

    Control employee travel and business costs with Fyle’s expense policies

    Expense policies play an essential role in making sure finance teams stay compliant. In such cases, one might assume that automation to enforce policies would be a norm but unfortunately, isn’t. There’s a common misconception that automation hampers financial control and forces multiple process changes. This makes businesses hesitant towards a modern software solution. At Fyle, we ensure that implementing technology doesn’t mean that. Fyle takes care of your end-to-end expense management needs. This allows organizations who use Fyle to have complete control over their policy and compliance. With Fyle, you don’t have to worry about changing existing processes as we replicate every workflow, no matter how complex. We’re constantly…

  • Improve Financial Health with Fyle

    How businesses are leveraging Fyle’s expense analytics

    At Fyle, we know it’s all about the numbers. Hence, we created the “Expense Analytics” feature that you always wanted. Our custom-designed dashboard acts as a single source of expense truth that your business needs. It provides insight into spend visibility, spending trends and more, accompanied with enhanced control. We’ve always been a team who strongly endorse innovation-driven technology. Our aim has always been to empower finance teams with data-driven decisions. With the power of numbers, now finance teams can play an active and strategic role in improving an organization’s financial health. With Fyle’s powerful data extraction technology, expense information gets detected and mapped with supporting receipts, in real-time. Additionally,…

  • Audit-ready pre-accounting with Fyle

    Stay audit-ready with Fyle’s real-time pre-accounting

    An organization’s financial health is largely dependent on how structured their accounting is. Hence, most organizations often concentrate their efforts towards streamlining their accounting systems. While doing so, they often miss out on how pre-accounting lies at the core of a comprehensive accounting process. Pre-accounting includes the most mundane of financial tasks. Collecting employee expense data, documentation through receipts and expense reports, being accounting-ready, at all times. Pre-accounting is easily overlooked upon since it is not any one person’s designated job. The entire organization plays a small role at every stage, and that makes it easier for the inefficiencies to go unnoticed. Given how pre-accounting is consistently neglected, growing businesses…

  • How to detect and prevent expense report fraud

    How to Detect and Prevent Expense Report Fraud

    Other than people cribbing about how damned expense reports are, you might have recently seen expense reports making the headlines. From the $35M expense report for Mueller investigation to the Scott Pruitt Scandal, the news is that expense reports have been  home to a lot of frauds. What you read in the news though is nothing compared to the actual scale of expense fraud. According to the Association of Certified Fraud Examiners’ 2018 Report to the Nations, expense reimbursement frauds account for 21 percent of fraud in small businesses (those with less than 100 employees), and 11 percent in large businesses (those with 100 or more employees.) Data aggregated from…