We know that sorting out both your own expenses and your employees’ expenses can be one of the most challenging parts of keeping your accounts in shape. This is likely to be because:
- it’s easy to lose receipts
- your employees might forget to ask for a receipt (worse still when you’ve already given them cash to cover the expense)
- it can be difficult to keep track of your business mileage
- you may not even be aware that your company can reclaim the VAT on the ‘fuel element’ of your business mileage claim
The good news it that our expense process makes things really simple.
We give you and your team a Receipt Bank app, which you use to ‘snap’ receipts whenever you incur a business expense. Receipt Bank extracts the relevant information (how much you spent, where, how much VAT etc). We add this to your expense report, and push it into Xero each month.
We also provide you with the business milage app, Tripcatcher, and we recommend that you use it to record your mileage before you’ve even got out of the car! If you’re always travelling to the same places, seeing regular customers or moving between different shops or depots, you can save these as ‘favourite’ trips.
At the end of the month you’ll see the expenses to be paid in Xero, alongside other suppliers.
Let us know if you have any questions about making expenses easier.