Archives : Expense report

  • Federal palace of Switzerland

    Increase in Swiss VAT rates: what is the impact on your business?

    VAT rates increased in Switzerland on January 1, 2024. Companies need to take stock of the situation straight away in order to prepare and to make the right changes to their ERP and accounting systems.

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  • Young black businesswoman talking to a coworker, in an orange blouse

    Top 10 best expense management software in the UK

    In the UK, about a third (32%) of workers deal with work expenses. Among those who do, many are professionals and administrative staff.

    Interestingly, even though expense management software exists, only 40% are using software to manage business expenses. Many are relying on old-school methods: 35% use basic spreadsheets and 10% still use pen and paper for expense management. [source]

    In this digital age, using old-school methods for managing business expenses only means putting an additional burden on your head. Without any smart software handling your routine financial paperwork, you would only have mountains of receipts of coffee runs, travel through vouchers, invoices, bills, and purchase orders left at your desk.

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  • Young business woman filling forms for expense claims

    What are expense claims?

    Do you frequently reimburse employees for business expenses paid on personal cards? It’s not uncommon for employees to grab lunch with a client, travel to meetings, and purchase company supplies using personal funds.

    Reimbursing these expense claims isn’t always as clear-cut and streamlined as business owners would like. In fact, the threat of fraudulent expense claims poses a serious concern, as a recent study uncovered that nearly 1 in 4 employees have committed expense fraud.

    Bolstering your expense claim function relies on understanding the basics, like how expense reports work, the associated challenges, and how to implement an efficient claim process. This is exactly what we’re going to cover in this article. Let’s dive in!

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  • Business man waiting outside of an airport, with a backpack, talking on the phone

    Per Diem allowances for business travel in the UK (HM Revenue & Customs) 

    The UK saw a significant number of business visitors in 2023, with over 37.1 million visits recorded. [source] 

    From securing new clients to fostering stronger partnerships, business travels bring a number of business opportunities along. With opportunities, it carries challenges though. 

    For companies, managing these business travel expense reports after each trip is often complex and challenging.  Per diems bring a simpler, more efficient solution to manage business travel expenses. 

    Under the regulations of per diems, you no longer need to review receipts for every meal and travel cost that your employee makes during the business trip.  Per diems provide you with a standard daily allowance to reimburse travel expenses to your employees.  

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  • Woman with an orange sweater, looking at her phone and holding a credit card

    How to manage corporate cards – the ultimate checklist

    Corporate cards are a means of payment for employees’ (strictly) professional expenses. Linked to the company’s bank account, there are several types and names: prepaid card, business payment card, or pro card.

    Unlike traditional expense reimbursement systems, corporate cards offer a number of advantages to help optimize business expense management. For example, employees no longer need to advance personal funds, which could have posed financial problems for them in the past. The cards also streamline the accounting reporting process.

    However, companies that use these cards will need to pay attention to security and control issues.

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  • supermarket worker with ipad

    [Mass-market retailers] 5 reasons why you should digitalize your accounting functions

    Although companies have been digitalizing on a large scale for years, it is clear that one department has been neglected: the Administrative and Financial Department.

    What’s more, the current health crisis and the resulting upheaval in the way that work is organized have highlighted the difficulties encountered by these support functions. When working remotely, many people have been held back by an outdated or poorly thought-out system, or have been unable to access the tools they need to perform their tasks.

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  • Young man on a business trip, with his phone in his hand and an orange jacket

    Travel request and expense reports: which reimbursement process to set up?

    From local customer meetings to international business trips, all companies need to manage their employees’ business trips. When employees go on a business trip, they are sometimes required to make a travel request, or agree a travel request with their employer. But what is the point of this mission order? How can you optimize the resulting reimbursement process? Find out everything you need to know about mission orders.

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  • CEO and accountant

    CEOs: how can you use accounting data to make the right decisions?

    Did you know that you can use your accounting data to facilitate your strategic planning process? This information will be invaluable in determining the areas of development or growth for the coming year, as well as areas that you will need to keep an eye on. Let’s first take a look at information governance.

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  • Expense report management: 5 good reasons for choosing a smartphone app

    In companies, expense reports are still generally managed in Excel. But spreadsheets are not very intuitive tools and are not really intended for collaborative work. This often leads to delays, errors, and omissions. The solution? Move to paperless processes with powerful expense management software! We focus on five major advantages of the N2F solution for companies today.

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  • The essential tools for a CFO 2.0

    Is your company going digital? With the company’s various departments progressively integrating new tools, the administrative and financial department’s shift to digitalized operations will be a key part of your development as a 2.0 company. It will ensure that your company is more responsive, productive, and profitable. However, there are many options on the market. Selecting the best software and applications for your department can be a real challenge. To help you make an informed decision, we have cherry-picked four high-performance tools to optimize the digitalization of your administrative and financial department.

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