Track Employee Expenses Using Prepaid Debit Cards

Track Employee Expenses

The ability to track employee expenses is vital to the health of any company.  Ignoring your business expenses or allowing them to spiral out of control can cause severe financial damage or even bankruptcy. However, very few people start a business hoping to spend all their time monitoring their expenditures.  It can appear that expense management takes away from the actual process of running your business - and it many ways, it does!

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Elements Of Automated Bookkeeping

Bookkeeping

As technology progresses, bookkeeping practices have also changed.  The amount of physical paperwork has decreased as more bookkeeping processes shift to the online world.  This technological shift is by no means complete as the evolution of automated bookkeeping is still in its infancy.  In this post a few key elements of automated bookkeeping will be discussed to hopefully shed some light onto where the discipline of accounting is headed.

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Top Expense Management Challenges for Business Travel

expense management

Business mobility, globalization, and international expansion are all contributing to the increase in travel expenses for many businesses. In fact, it was estimated that 2017 would see a 3.8% increase in business travel costs by The Global Business Travel Association. For organizations that are already struggling with cost management, this can place even more pressure on business owners and managers.


That being said, there are some common categories which ...

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Signs Your Business is Outgrowing its Bookkeeping Services

bookkeeping services

When many businesses launch, they decide to hire a bookkeeper or bookkeeping services to take care of time-consuming accounting tasks and processing financial transactions. Some bookkeeping services even go a step further and handle company payroll processing.


As your business grows, your bookkeeping and accounting needs can change. Plus, your financial reporting needs will also grow, fueling the need for more sophisticated data and reporting that can help better control ...

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Best Apps for Tracking Business Receipts

apps for tracking business expenses

Did you know that almost each day that there are over 3 million people that are traveling for business purposes? Even more than that are employees who are meeting with a client for lunch locally or even just picking up coffee and muffins on their way to a consultation. In all of these circumstances, money is being spent with the goal to ultimately increase the company's bottom line though ...

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Pros & Cons of Expense Reimbursement Forms

expense reimbursement

When businesses use a reimbursement form process, their employees are responsible for covering the costs of their expenses upfront and will receive compensation once they submit their receipts. Depending on how an organization’s reconciliation and reimbursement process is structured, employees may be required to submit their expenses on a weekly or monthly basis.

There are both pros and cons to using expense reimbursement forms within your business. The ...

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Why Should You Hire Professional Services for Areas Like Bookkeeping?

bookkeeping

For many small to medium sized businesses, even if they have a solid accounting department, there can still be some weak areas which may be preventing the business from growing to its fullest potential. Without a solid foundation, problems can occur with expense management, taxes, and bookkeeping. If it is not in your budget to hire full-time staff to fill in these gaps, professional service providers can be an ideal ...

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How Prepaid Debit Cards Can Help Nonprofit Organizations

prepaid debit card

Nonprofit organizations always have the challenging task of doing more with less. Everything from office supplies to vendor payments has to be thoroughly reviewed, budgeted and accounted for. With day to day expenses rising and nonprofits having to manage on scarce budgets, any opportunity that can help save funds is welcomed.

With traditional credit cards, many times the account has to be under a personal owner's name and attached ...

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Tips to Control Expenses for Remote Workers

control expenses

These days, no business can spend money blindly. Smart financial management and budgeting are essential for keeping your business profitable and on track. With the right strategies in place, business managers can now empower their remote workers to be able to spend what they need, while having complete visibility and control over their spending.

The top tips to control expenses for remote workers are:

Establish Purchasing Controls

Setting rules for ...

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How Prepaid Expense Cards Help Franchise Owners

Prepaid Expense Cards

When starting a franchise, owners have a strong need to control expenses and limit as many risks as possible. Because of this, many new franchise owners are wary about having employees or contractors use a company credit card. Before, especially for businesses that had employees on the road or traveling, it was difficult to manage expenses and the reimbursement process tied up too many precious resources.


Now, franchise owners have ...

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