Wednesday, April 29, 2015

The Meaning of Expense Report

Almost in every organization in many situations, employees are required to spend from their own purse for the purpose of the organization. In such cases, the organization becomes liable for the reimbursement but for this to happen, it needs the detailed report of the expenditure. This detailed report of the expenditure is called as expense report. This is the key to get the reimbursement from the organization as it contains all the expenses made by the employee for the organization. All the official expenses are mentioned in this report. This report also gives a very clear idea about the tax deductions and payments and also about the personal account as personal expenses are also parts of this report. The data that is common to all the expense report is travel expenditures, hotel rents, air and train fares occurred on traveling to different destination. The food expenditures are also mentioned in this report.

This kind of report gives a very clear picture about the daily as well as the monthly expenses of an employee. This information is useful for both the employee and the employer. In general, the reimbursement takes a lot of time after submission of the expense report for this reason the organizations use a fixed form to enter all the expenses. This form can be filled online as well as on paper. The online submission is a very fast way to get the reimbursements and this is the reason that most of the employees prefer as compared to hard copy of the report.

Wednesday, April 22, 2015

Expense Report Software In Your Mobile

Have you ever experienced creating, submitting, modifying, attaching receipts, and claiming your expenses using a mobile device? Doesn't it reduce your efforts to a great extent?

Yes! Online expense report software automates and accelerates the process of claiming your business expenses. It is on-demand expense software that challenges its competitors in the marketplace by providing its users with more advanced features that save time and leave them delighted.

Anytime and Anywhere Online expense management software enables you to create and send expense reports easily and helps you reclaim your expenses with just a few taps on your smart phone anytime and from anywhere. This software is available on all Android and IOS mobile devices.

Know Status of Your Reports Submitted reports will be categorized automatically based on the approval process and get displayed in their respective areas. This helps you know the status of your reports easily.

Recall Your Reports Online expense management software allows you to recall rejected reports and modify, edit, and resend them for approval without creating another expense report.

Dazzling User Interface The software, with its intuitive user interface, ensures that its users have fun while working with expense reports. The application is easy to use and includes many shortcuts including pre-categorized line items with significant icons. This saves you a lot of time and helps you create reports in a streamlined manner.

Capture and Attach Receipts Users can capture receipts and attach these to their reports directly from their mobile devices from any place, making it easy for users to claim their expenses. This system also eliminates fraud and mistakes usually made while calculating expenses. online expense report software also provides accurate tax details relevant to their respective expenses in various countries. This software supports an eco-friendly environment by eliminating the use of paper and replacing it with soft receipts.

Smart Error Detection Expense Software mobile application checks for errors and restricts them from submitting them. It also displays the respective error occurred which effectively helps users correct these errors and submit error free reports. This system also indicates the approvers with immediate email notification which also allows them to revert back to your reports directly from their mail box very quickly.

So get ready to use this mobile application which easily suits organizations of all sizes and helps you to manage your expense reports anyplace and anytime from your mobile devices.

Wednesday, April 15, 2015

2015 Q1 SpendSmart™ Report Released

With Q2 well underway, we’re looking back at business travel spend trends of last quarter. In our quarterly SpendSmart™ Report, we analyze our entire database of reviews and receipts—providing insights and benchmarks for the T&E industry at large.

Last quarter, we focused on the significant shift in the sharing economy, specifically regarding the increased use of Uber for corporate travel. Ride-hailing services aside, we collected and analyzed data from January 1 and March 31, breaking down the most frequented—and most loved—restaurants, hotels, airlines, and rental car companies.

The five most expensed restaurants for the quarter include Starbucks, McDonald’s, Panera Bread, Subway, and Dunkin’ Donuts. Notably, this marks the ninth consecutive quarter that Starbucks takes the lead, at 5.32% of total meal expenses for 2015 Q1.

In our lodging vendor analysis, Marriott was the most expensed hotel, at 9.4% of all hotel expenses, followed by Hampton Inn, Courtyard by Marriott, Hilton Garden Inn, and Holiday Inn Express. Business travelers ranked Westin Hotels number one for the quarter (at 4.5 out of 5 stars).

Delta was the most-expensed airline, accounting for 20.67% of all airline expenses. Southwest and United nearly tied for second place, at 13.42% and 13.32%, respectively. And although JetBlue was not one of the five most-expensed airlines, it was the highest ranked airline, with a 4.5-star rating from business travelers. With regards to rental car companies, National and Enterprise top the SpendSmart™ charts as the most-expensed and highest-rated vendors. Our data shows that National accounts for 22.7% of expensed car rentals; with user rating of 4.1. Enterprise represents 20.46% of expenses; with a 4.3 user rating.