If you’re the kind of person that is more often than not out on the road for business, meeting clients and sleeping out of a suitcase, you’re probably far too busy handling contracts and new business to even want to think about filling in a tedious, expenses-related spreadsheet when you get back to the hotel room. The business-travel lifestyle wasn’t made for people to be cooped up in a room doing the paperwork when they should be out in the city, relaxing, getting to know a new place. Or perhaps researching a new prospect over a meal and glass or two of wine.
Tracking expenses can be a wearisome task when your day is jam packed with other responsibilities. But keeping a clear account of those business expenses is unfortunately a vital part of the job. For startups with very few employees and resources, seeking help from financial services is a way to go about managing the finances. Experts from companies such as Early Growth (visit the website at https://earlygrowthfinancialservices.com/) can give you smart insights on how to make informed decisions to take the business to the next level.
An audit by HM Customs and Revenue, and you may well need to suddenly produce all that documentation. Will you or the guys back in accounts have everything in order as it should be? Fortunately, there are a number of business expense apps and online services out there to make sure that you do. By finding the right Expense Management Solution for you, spending time on the financial aspects of your business will no longer be a tedious task.
ExpenseIn is a fantastic web-based software and app that enables you to keep track of your business expenses. Specialised in UK tax, ExpenseIn allows you to record purchases from accommodation and meals to travel and other substantial purchases. The service makes it super fast and easy to create and complete claims.
When it comes to mileage, simply choose the tax rate and vehicle details and then proceed to select the journey details from location lists and enter your distance travelled.
If you want to keep track of the time you’ve spent with clients and other billable hours, this service provides that as well. Enter your hours for time spent with a client and rate, and post the billable expense into the system. Job done. Of course, if you’re just looking to claim back mileage expenses, it may be worthwhile looking for a more specific mileage tracker app so that you aren’t paying for features that you know you will never use.
Concur Mobile is a great app that was designed with small businesses in mind and for those who travel frequently for their profession. It’s available for Android and the iPhone and it easily creates detailed reports. Keep track of your travel expenses and approved travel spending. Search for hotel and flights and link up your credit cards and import charges automatically.
Another app that could be useful is inDinero, which helps you track expenses and keep your eye on your business cash flow. The app syncs your credit cards and bank account, which gives you a better idea how to predict cash flow. It offers understanding into the financial state of your business by providing a financial dashboard that is linked to your credit cards and accounts.
Don’t let tracking business expenses be a monotonous task. These apps and services have kept you, as business high-flyers, in mind and simplified the task immensely. So go ahead and get your receipts in order with an app, and instead give yourself some extra, well-deserved time to do what you really want to do when you’re out on the road.