How to keep on top of your expenses
Any good Swindon Bookkeepers will tell you how important it is that you keep on top of your business expenses. This not only allows you to have an up-to-date picture of how your business is performing financially but it also helps to prevent your expense claims from piling up. There are a number of ways that you can do this.
Expense apps – there are a number of apps that are available that you can use to take pictures of your receipts and have them filed and ready for your expenses to be paid. They can work for owner-operator businesses as well as larger corporations.
Accounting software – lots of cloud accounting software providers such as Quickbooks and Xero offer mobile app versions that allow you to send invoices, add bills and even keep up to date with your invoices. The beauty of these software options is that they give you and your staff the opportunity to update information on the go.
Timings – it is important that you have an expenses policy in place. This will help your employees to know what the requirements are for submitting expenses claims and also any timescales that they need to adhere to in order to be repaid on time. You should also let them know when and how they can expect to be repaid.