Outsource expense management
Virtually managing expenses in small business
Outsource expense management
Virtually managing expenses in small business
Outsource expense management
Virtually managing expenses in small business
As part of our online expense tracking service we can also manage company credit card payments and personal expenses to identify company money spent, expenses to be reimbursed and pick up on specific expenses to be charged on to end customers. We can then incorporate charge-on expenses into invoices for submission to your clients and again update your accounts package as appropriate
If your company expense management is getting in the way of growing your business call us for a free consultation to outsource your expense management.
Too many receipts – not enough time?
Successful business owners have many attributes, but there are two things you often hear entrepreneurs talking about: focus and delegation.
For many small business owners, keeping track of expenses is one of the most time-consuming and brain-numbing tasks. Too often it gets put to the bottom of the list and, by the time you get round to it, you’re swimming in receipts and paperwork and it takes an age to get things organised. And then there’s the inevitable panic about whether you’ve actually done it properly for the purposes of your accounts and planning.
Well, there is another way. And that way is to outsource expense management to someone who can do it regularly, reliably and efficiently. It will save you time, it will save you money and it will save you hassle.
How it works
With a bit of organisation and a clear process, expense management is a straightforward admin task. You can manage all your expenses – from fuel to credit card purchases – on individual spreadsheets or other expenses systems for each relevant employee in your business. This means you can see running expense totals at any point in the month and relate those totals to what’s happening in your business. You can, for example, isolate your credit card purchases, or look at what has been spent on food and entertaining. This gives you a great overview of your general expenditure.
Outsourcing also gives you these great benefits:
- Monthly reconciliation with your accounts – when you or your accountant comes to your monthly accounts, the expenses information is all there and ready to plug in. In fact, if you’re using accounting software, you can give your expenses assistant access to it, and they can put expenses information directly into the system. That makes working with your accountant or tax adviser much easier.
- A job in safe hands – rather than worrying about whether you have done your expenses properly; or whether your employees are doing them at all, you’ll know that everything is in safe hands. When you start working with external resources, you start by setting up and agreeing to a process for giving them the information you need. Get your employees on board with this, so that it becomes a habit, and you can stop worrying about expenses altogether.
- Expenses organisation – sometimes your expenses will be reimbursed by a client or supplier. It’s easy to forget to do this, which means you end up spending more money than you have to. Your outsourced expenses manager can make sure that any reimbursable expenses are properly marked so you never lose out.
Find out more about how you could manage your expenses more efficiently by contacting us today.
No recruitment
costs
Management of staff and motivation
Payroll, NI and Pension
Included
Tax and employment law
Included
Software & hardware systems included
Single assistant or whole team available
Only pay for resource needed
Office, phone & utilities Included