Welcome to the Chrome River Currents monthly digest! Each month we highlight the latest news and analysis on business travel, expense management and online expense reporting. This month, we’re focusing on helping organizations use cloud-based software in tracking business expenses. We offer tips on using analytics and mobile tools, and introduce our four-part series on reporting travel and entertainment expenses under an IRS accountable plan.
4 Keys to Reimbursing Employees Under an IRS Accountable Plan: Part 1
Editor’s Note: This article is part 1 of a 4-part series on reporting travel and entertainment expenses.
For many common expenses, employers have the option of providing tax-exempt reimbursement under an IRS accountable plan. While an accountable plan involves additional rules, companies can use four best practices and expense management software to streamline compliance, making the rules easier to follow for both employer and employee.
Travel Expenses: Are Your Employees Writing Off Too Much?
Even if your organization’s expense policy excludes certain travel expenses, like sightseeing side trips, you may be able to deduct these unreimbursed items from your taxes, according to an article on the USA Today website. As with most aspects of travel expense management, it’s important to provide documentation and know what to expect.
What Insights Can Expense Management Analytics Uncover For You
Whether in business, sports or warfare, we tend to admire leaders who make good decisions based on intuition and instincts. But today’s complex business world also requires calculated evaluation. Expense management analytics offer reporting tools that help leaders make better decisions — decisions that combine quantitative and intuitive insights.
Is It Time To Shed Light On Your Institution’s Expenses?
Now, more than ever, public universities need to control costs and improve transparency. One way to achieve this is through the use of expense management software’s detailed analytics and monitoring of business expense reports.
How to Take the Headache Out of Invoice Management
In an ideal world, your organization’s invoice management would be secure, transparent and electronic, but many vendors and suppliers still issue paper invoices. Automated routing can reduce invoice processing costs and increase efficiency through streamlined initial data capture, automatic approval routing and secure file cleanup.
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