Our customers tell us that after salaries, travel and entertainment is the highest controllable expense category for businesses.
There has always been a need to have some sort of expense claims process in place, but this is not always straight forward and some systems are over complicated and not easy to use.
Manual or paper-based systems bury finance departments and employees in a sea of paper with checking and reconciling claims. Spreadsheet reporting is equally inefficient and could be costing your company more than you realise.
Increase resource accuracy and efficiency
With the increase in business travel and mileage claims, you need to be sure your process is working in an efficient and effective way.
An automated platform makes it easier for employees to submit claims and for finance teams to process them directly into the accounting system, without the need for manual data entry. A platform such as this can be scalable and customised to fit any size of business and creates a streamlined accurate process where all data is stored in the cloud with real-time access to increase efficiency.
Capture receipts instantly
How many people have been in this situation – you drive to a meeting, have lunch with a client, pay for parking and you’ve lost the receipt(s)? Then how much time is taken retrospectively filling in paperwork to file your claim?
By using an online expense management system, employees can use an app to photo-capture receipts as they receive them and submit claims quickly on-the-go to speed up processing and remuneration.
Prevent exaggerated mileage claims
With a manual system there is often no evidence of any private journeys undertaken, such as a daily home-to-office commute or weekend trips. In addition, poor private journey record-keeping often provides no auditable evidence of a journey taking place.
More importantly, if your company doesn’t keep accurate, auditable accounts or HMRC spot inconsistencies during a business record check, you could be facing a penalty of up to £3,000 per driver for lack of business mileage compliance.
With an automated expense management platform, mileage is automatically and accurately captured as you drive, you can check or add to claims anytime, anywhere and verify the status of a journey as business or private.
VAT rules needn’t be complicated
An automated expenses tool can ensure correct company policy and compliance around HMRC issues and by automatically synchronising individual claims to the correct AMR’s (Annual Mileage Rates) and supports a full reclaim of allowable VAT.
Fleetmiles can help you manage, maintain and control your vehicle fleet expenses. The system captures all mileage and other expenses any time, any place, and can integrate with your ERP system. Mileage is guaranteed to be accurately captured and your drivers will find it easy to use, with just three taps on a smartphone, it’s job done. To find out more about Fleetmiles, contact our Service Team 01420 544514 or email firstname.lastname@example.org