Expense management software is not just for payroll/hr administrators anymore. Personal use of an expense management software can benefit the individual as much, if not more, than Payroll Patty.
Here Comes the Taxman
Expense management is huge heading into tax season, especially if you’re one of the brave few that do itemized deductions in lieu of standard. Showing what you can deduct and having the receipts/records to back it up can you save you a bunch of money come April 15th.
Expensing...the gift that keeps on giving
Expense management software is extremely beneficial during the holiday season. Say you’re a busy salesperson; you’ve got driving to do, people to see, dinners to buy and expenses to log. Certain platforms, like Expensify, allow you to keep track of all those expenses (they even GPS for automatic mileage reporting!) and submit them for review without ever bothering Payroll Patty, letting you both stick to what you know best.
Keeping loot under your fiscal tree
Making sure you’re not overspending this year is a great way to make sure you’re not a Grinch when payments come a knockin. Expense software allows you to keep track of how, when and where (hopefully you know the why) you spend your money. This allows you to know, heading into gift buying season, how much disposable income you’re working with so you don’t walk off your own fiscal cliff. Level Money has a great holiday tracker aspect of their application and wrote an awesome blog on how to use it here.
Are you 21st century cluttered? With expenses strewn about multiple inboxes and applications? Fear not, cloud-based expense software is capable of importing expenses from many different platforms so no matter where you save it, you can access it with ease. And if you are working and expensing a lot this time of year, you can rest easy knowing that whenever you submit expenses and they’re approved, they’ll appear on the next applicable paycheck.
There ya go! Expense management benefits people using it in AND out of the office, for business AND personal use. Used correctly and they keep the grinchy-ness at bay this time of year.