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How can you track business travel expenses?

Business travel is a huge part of doing business these days because you want to go to meet with potential partners and clients. Travelling stands out as one of the largest of the expenses that the companies can incur. Whenever travelling because of work you have various things that go through your hand so focusing on the task at hand can be difficult.
One of the biggest considerations is keeping up with the financial side of business travel. This is not as easy as many think. In many cases we see business managers focusing on aspects that are not as important. For instance, since they use the car for both business travel and family travel, they want to focus on special safety features. That is not what you have to do. What is important is remaining focussed on being aware of what business travel expenses appear. Once you know what you spend money on, it is a certainty you can make changes.

Take advantage of technology

One of the best things that you can do is take advantage of the technology that exists at the moment. It is actually a surprise to see that people that travel for business purposes do not use the smartphone that they have to track business expenses. Life will be so much more organised when using the apps. You currently have access to various applications for tablets and smartphones. Most of them are 100% free. This includes BizXpense Tracker, Shoeboxed and Expensify.

Take advantage of the cloud

In the event that you do not want to use the smartphone, you can at least use your laptop when connected to the internet. Corporate officers and businessmen from all around the world have laptops. This offers the possibility to keep track of the expenses with ease by simply using cloud-based applications. For instance, online spreadsheets like those offered by Google Docs or Microsoft Office Online are pretty useful.

Save the receipts

This is one of the simplest things that you should and have to do. Keeping track of the receipts allows you to deal with the situations in which you are on the move and you do not have time to use tracking applications. Always make a simple note as you get the receipt on the phone or on your notepad. If you cannot keep the receipt, at least take a photo of it. That aids when you have to get reimbursements from the business managers.

The importance of organisation

The most important thing that you have to remember when you try to track business expenses is organisation. When you are organised while travelling you can easily deal with absolutely everything. All that you really need is one hour at the end of the day to update the list of the day’s expenses. At the same time, it is necessary to know everything about the travel policy that the company has. You need to be aware of what reimbursements will be offered and what is not covered. Obviously, an expensive whisky bottle will be paid by you but there are many others that can be on the list. You do not want to be surprised.

13 Jul 2016 14:46

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About Boris Dzhingarov

Boris Dzhingarov graduated UNWE with a major in marketing. He is the CEO of ESBO ltd brand mentioning agency. He writes for several online sites such as Tech.co, Semrush.com, Tweakyourbiz.com, Socialnomics.net. Boris is the founder of MonetaryLibrary.com and cryptoext.com.




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