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Track down Your Expenses While Traveling

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Technology has completely changed the way business are dealing with their accounting and financial aspect of their business organization. However expense management is one such function that has not seen much innovation from a longer period of time. And what more particularly unfortunate is that most of consider this to be an insignificant part of the business organizations where as it is the most significant part of the organization. Studies have shown that 8 out 10 business organizations even today are using spreadsheets while managing the business expenses of their organization. Given below are the six major tactics that make travel expense management easy for you and your business organization.

Making use of the smart phones while traveling

Though there are different and specific expense management apps being made available to you, they would just serve as the double if you have to use specific business app. Through the smart phones you could take the photographs of all the receipts for the expenses made, and in turn gain legally binding copy. If your employer here insists on paper, print out picture when you return to office and for a maximum efficiency you could here use a note taking app to store the data and keeping it tagged for easy retrieval.

Start with simple and trying it before you buy

The next step while dealing with travel expense management is to use a simple version of automated expense management software that would not just capture but would even track down the expenses related to your organization. And while using it you might want to be sure of the following things: Has an easy to use mobile app for frequent travelers, is hosted in the cloud, and the last but not the least has a free trial version so you can see if it works out for you.

Having your policy put in action

Have a thought on this if your team could manage their business activities on their smart phones then why not expenses. So try and empower your team with the mobile expense reporting and the management tools so that they could report and manage the expenses on the go from anywhere saving their time and making them more productive enough.

Get your employees use the software

Have your employees prepared to make use of the software before it expires, and get opinions from people around the business. Do not forget that the employees, the finance team and the travel managers, and the others are responsible enough for travel and all the other expense budgets using the software getting their input before you buy whatever is helpful.

Putting a clear, simple and fair expense policy in place

Expense policy is nothing but having your organizations company rules and guidelines towards business related business. It would give your business and employees an overview of what has to be expected and what can, cannot claimed before in advance. Having a simple and a fair policy to understand, the employees here would know is been expected from them and you would not have to deal with unnecessary questions and the finance team processing your expenses without any hurdles.

Designated location for lost receipts

Especially on the roads you could accumulate a lot of receipts quickly and easily. And even though it might seem to be tempting enough because of your credit card and cash are in there your wallet is never considered to be ideal unless and until you have got sufficient space in order to keep the required receipts related to the expenses of your organization. So the most important thing you need to do here is have a location set no matter what. And once you get all the receipts place them there and do not store them as you cannot claim them through location wise.

So do you have expense management software strategies that would help you saving your time and money? If yes how have they worked out for you? Do leave your thoughts and comments below.

Sometimes, even though you made a perfect planning still you may face few glitches here and there. One small wrong step can ruin the entire vacation plan, and you may end up spending more money than the actual budget. That is why proper planning is required when you traveling with children and elderly people. Here you can find few simple yet very efficient tips for a smooth vacation.

Plan Smart Vacation with Family

As you are all set for a pleasant vacation, make sure to involve your kids in the vacation plan and prepare them to get ready and fun with family. Check the passports and other necessary documents that all the dates are valid before travelling internationally. Now, choose the destination along with other family members, you can browse the internet to see which destination is good for your entire family, you can find toddler-friendly destination, exciting and entertaining destinations, the destination that excites the children, etc. You can also find several saving tips, which can make the Dad happy as they can help him save money on their trip.

People get scared to fly with a baby, but, there is nothing to worry, everything is possible. So if you want to visit international vacation spot then go ahead, the airline special deals can make it possible to fly happily with a baby.

Even pregnant lady can travel with little extra preparation, but new moms can freely explore the world with less worry. Pregnancy is not an excuse for you to not have fun, take you better half along with you and do hiking and small adventures, but, choose the adventures that are safe for you and for the baby.

Check the Reviews for Best Family Vacations

Going on a vacation without knowing exactly where or without proper planning can be terrifying especially when you are going with kids. But, if you check the reviews before planning a vacation can help you choose the right destination. Check Pure Wander for genuine reviews that can help you find the perfect vacation spot.

Finding the best and affordable place to stay is also one of the important factors to be considered when you are staying with kids. We can help you find the best place so that you can choose the right accommodation for your stay. There are several exciting places including Barbara Beach & Golf Resort, Hotel Diva at San Francisco, Coral Hills Best Western etc. You can also check the reviews on best restaurants, the best eatery places such as Wynkoop Brewery at Colorado and fun activities for families include Segway tours at San Francisco or Summer Camp for kids.

These tips can help you plan your vacation with a little frustration. However, with lot of patience and full preparation you can make a memorable and fun vacation possible with kids.

8 Major Tips to Track down Your Expenses While Traveling down the Road

Did you lose another week just billing down the receipts through all your credit card charges, and paper receipts that would work out to show how many purchases were done and were actually the business expenses? If so then it is the right time to set up the organizational efforts by implementing an expense tracking software that would help in tracking down the business in real time. Given below are the 5 major tips that would help you track down your expenses while travelling down the road. Here you can also find the tips to minimise your travelling expenses.

Making use of credit cards where ever possible

Credit cards are generally considered to be every one best friend, especially while travelling. For example, when charging a meal on credit, I am sure that you would be getting a receipt that you could save and enter when you return from the vacation. Even if you lose or forget to keep the receipt the purchase would show up in credit statements entering the expenses at that time.

Staying on top of your receipts

When you have receipts related to the business-related purchases than have them stored in the envelopes or shoe boxes and then filing them in an accordion file organized by month. If you are audited you would here then require receipts as an evidence for all the evidence made. This is also known as one of the best methods to save time.

If you do not get a receipt then jot it down in another receipt

There are times when you would not get receipts for the expenses made. And in things like cash tips, street food purchased are something that does not come with the paper trail, you would here than need to jot down the expenses in the margin of receipts that you already have with you. Also, it would be great if you remember where the money is being spent and write down those expenses.

Using the right software to track down and analyse your business expenses

Most of the expense management software programs provide options to create the expense categories and linking them to line the items on your tax forms reducing the time spent on billing your business expenses. These are programs that could be used to generate profit and loss statements assessing the financial health of your business.

Taking down notes in your phone

This is one of the most alternative methods that most of the individuals like, as they would not have to deal with the receipts making a note in their smartphones about each and every expense made. This system has generally seemed to work out well if you have a texting plan too. You could again go one step further and choose a mobile expense tracking software app.

Centralize Travel

Instead of having each booking done separately, consider consolidating your travelling by going through the same website for each and everything you need in terms of travel. Say for example Expedia has a business section that would help you book trips tracking down the expenses all in one place. Once you have hired employees in the team the centralized type of space would be beneficial.

Scanning down the receipts

If you have a regular practice of maintaining all the receipts in the pocket of your laptop bag, you are then losing out a few expenses. The loss would then add up to hundreds and dollars of dollars. There are a few apps available online that would help you track down all the expenses using the smartphones or tablet camera. Once you have the receipt saved you could then have paper version thrown away. While looking out for receipts in the app to make sure that would allow you to find receipts you need when you need them.

Being Timely

Have your expenses recorded on a timely basis so that you do not end up with a pile of receipts. Having your receipts documented on regular basis would not just save your time in the long run but would also ensure that your financial records are up to date.

So what are your tips for tracking down the business expenses while travelling? We are always open for some good ideas and suggestions in terms of expense management software. Help us out with your expense management tips by leaving the comments below.