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November 27, 2024

What does per diem mean? How to create a per diem expense policy

One way companies often use to streamline travel expenses is the “per diem system,” which offers employees a predetermined daily allowance for expenses incurred while traveling. Understanding how per diem works and establishing a clear policy can help businesses control costs while providing their employees with flexibility. In this article, we’ll explore what per diem means, compare it with other expense reimbursement methods, and guide you through creating a comprehensive per diem travel expense policy tailored to your organization’s needs.

November 18, 2024

Strategies to prevent expense fraud

Managing business expenses and employee reimbursements is a tedious task and therefore easy to overlook what may be a clear red flag. Obviously, as a business owner, you need to take action to combat and prevent expense fraud. But, how? With expense fraud expected to reach over $16 billion by 2027, now is the best time to establish strategies to protect your organization from expense fraud. In this article, we’ll look at different types of expense fraud, understand how to detect it, and give tips to help your organization take strides toward preventing it.

November 17, 2024

Does a company credit card affect your personal credit score? Find out.

As businesses grow, efficiently managing expenses isn’t just important; it’s crucial. One common tool used by companies for this purpose is the business credit card, designed to help streamline and separate business-related spending from personal finances. However, a frequent question pops up when it comes to business credit cards: Do business credit cards affect personal credit? The answer isn’t always straightforward. While some business credit cards may affect personal credit, others may have little to no influence. This guide explores how different types of business credit cards function, the factors influencing their impact on personal credit, and ways to mitigate potential risks.

September 30, 2024

Can I write off business expenses on my personal taxes?

Tax season can be a tricky time for self-employed individuals, freelancers, and small business owners. The concept of tax deductions is particularly enticing when you think about reducing the amount you owe to the IRS. But what expenses can you actually write off? If you're asking yourself whether you can deduct business expenses on your personal taxes, you're not alone. In this blog post, we’ll break down the tax implications of business versus personal expenses, explore common deductions, explain how to report your expenses, and highlight the benefits of accurate record-keeping.

September 10, 2024

40+ business travel statistics for 2024

Whether you're a seasoned business traveler or preparing for your maiden corporate voyage, staying up-to-date with key business travel data is crucial. Making informed decisions based on relevant stats can save you not just time and money but also the occasional travel-induced headache. To help you stay informed, we’ve compiled over 40 business travel and tourism statistics for 2024, covering topics such as the average business trip cost and the rise of “bleisure.”

To help you stay in the loop, we’ve compiled over 40 business travel statistics, ranging from the average business trip cost to the rise of “bleisure.” Let's dive in and see how they can impact your next business trip.

May 13, 2024

Expensify unleashes unlimited virtual corporate cards: total control at your fingertips

Discover the future of expense management with Expensify's latest innovation – unlimited virtual corporate cards. Exercise precise control over spending with fixed or monthly limits, personalized card names, and easy employee assignments.

May 10, 2024

Uber expense reports are made effortless with Expensify

With Uber’s auto-expense feature, business travel becomes a whole lot smoother. We combine the convenience of Uber with the efficiency of Expensify to create a seamless integration that changes the game for expense submissions. Now, you can leave manual entries in the dust and capture ride receipts without lifting a finger.

April 10, 2024

Alternative financing options for your small business

When managing a small business, ensuring a healthy cash flow is crucial for day-to-day operations and long-term growth. Alternative financing can be a valuable lifeline, offering options beyond traditional bank loans or credit lines that can significantly improve cash flow. This post explores various alternative financing solutions that can help you maintain financial flexibility and support your business's growth, allowing you to navigate through economic challenges more effectively.

March 26, 2024

Six benefits of outsourcing accounting for small businesses in 2024

We used outsourced accountants for the first 12 years of Expensify’s life (from $0 in revenue to over $100mm). To this day, we still outsource certain aspects of our accounting when we need expertise we may not have on staff. Let’s explore how small businesses can benefit significantly from outsourcing their accounting functions, focusing on why the beginning of 2024 is an opportune time to start this journey.

March 07, 2024

Mileage reimbursement: Everything you need to know for 2024

Understanding mileage reimbursement is crucial for employees who use their personal vehicles for business and employers who need to reimburse them fairly and efficiently. It's a balancing act: employees need to know they will be adequately compensated for the additional wear and tear on their cars, while employers need to ensure they're following the mileage reimbursement rules and keeping costs under control.

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