Linking Expense Approval Requests To Expense Reports

In most organizations, expense approvals are a separate business process than expense reports. This seperation creates a challenge for the employees as well as the managers.

In order to get travel expense approval the employees or the managers need to login into one system; in order to complete the expense reports the employees or the managers must go to another system.

In Web2Expense - Travel Expense Report Management Software these two processes are linked. Once a travel request is approved by all the managers in the workflow queue, the system creates a new link button for the employee to create an expense report with just one click.

The users can create a new expense report using the “Create Expense Report” link in the “Travel Approval Request Details” view.

 

Travel approval request documents and associated expense reports remain linked in users’ account.

The users can go directly from one document (Expense Approval Request) to the other (Expense Report) or vice versa without going through the main menu.

Web2Expense integrated expense reporting provides a rigorous and cost efficient solution for companies and organizations worldwide.

To learn more watch the following training videos:

• ACME MEDICAL Expense Report Business Scenario
• ACME MEDICAL Expense Report Implementation Part 1
• ACME MEDICAL Expense Report Implementation Part 2
• Expense Approval – Employee Perspective

Configuring New Mileage Expense Rate

In this blog we will assume that you have created a free Web2Expense – Mileage Expense Tracker account.

1. To confiure the new mileage expense rate select the “Edit Mileage Rate” link in the “” menu.

Edit Mileage Rate

2. Change the mileage expense rate from 50.5 cents to 58.5 cents. Click save after you complete the change.

 

New IRS Mileage Expense Rate

The Cost Of Mileage Expense Reporting

After July 1, 2008 when you use your personal car or truck for business you are allowed to deduct 58.5 cents mileage expense from your taxes. This may seem like a lot. 

If you drive your car 10000 miles you can claim upto $5,850 as a mileage expense at year end.

However, if you do not own a car like the Toyota Prius the gasoline cost really takes a toll on this figure, take a look this calculation:

•  Assuming that you buy regular unleaded at $4.00 per gallon and your car gets 20 miles per gallon, your cost per mile is 20 cents. This is a conservative estimate these days.
• Regularly run and maintain your car costs for $1000/year and assuming 10K/year of business miles add another 10 cents to the equation.
• What about the car loan? $400 per month makes $4,800 per year and with usage of the 10K another 48 cents is added to the equation.
• Add them up 20 + 10 + 48 = 78 cents.
• If you are thinking about investing in a mileage logging system, think again!

Consider using Web2Expense Mileage Expense Tracker, it is free and very effective. You can even use it on your iPhone. Keep your records religiously every 100 miles adds $58.5 to your expense report. That can add up to big expense deduction on your 1040.

What can YOU do in return?

Since we are a for-profit organization and we sell Web2Expense – Travel Expense Report Management Software as a service to small, medium, and large businesses. You can help us to spread the word.

Happy expense reporting.

IRS Mileage Expense Rate For The Second Half Of 2008

The Internal Revenue Service today announced an increase in the optional standard mileage rates for the final six months of 2008. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

The new mileage expense rates which are valid between July 1 and December 31 of 2008 are as follows:

For business: 58.5 cents
For moving: 27 cents
For medical: 27 cents
For charity: 14 cents (unchanged)

If you would like to track your mileage expenses visit Web2Expense Mileage Expense Tracker page. It is a free and very effective tool to track your mileage expenses accurately.

How to sign up for free Web2Expense Mileage Tracker account?

By watching this video on Screencast you can learn how to sign up for your free Web2Expense Mileage Tracker account.

Mileage Expense Tracker Is iPhone Compatible And Free

Mileage Expense Tracker(MET) is an iPhone compatible free mileage expense tracking software.

You do not need to download any software to use it. Just sign up and start enjoying an advanced mileage tracking system for free!

If you have any issues with MET when using it on your iPhone post an entry to this blog.

Travel Expense Approval Requests

In Web2Expense travel expense management system users can create an travel expense approval request (TAR) to enter an anticipated travel expense for the upcoming employee business trip.

The “Travel Request Management” menu provides all functions needed for the employee to complete a TAR.

Functionally, a TAR document is not much different than an expense report.

An employee prepares the TAR and adds anticipated expenses for the planned trip. The system adds anticipated expense items to the TAR.

TAR document remains in editable for until the employee submits it for approval. At that point the system locks the TAR document and starts the Web2Expense automated workflow process.

Depending on workflow settings as it relates to a project or an organizational hierarchy the system submits the TAR document to the approving manager(s).

Managers are notified via email about the submission of a TAR by an employee. They can either use the actual link in the email body or the “Manager Self Service” menu to approve or deny the TAR.

Upon managerial approval the Web2Expense TAR process allows the users to create an expense report automatically using the anticipated item expense list. As a result, users enter the expense report line items once.

The TAR process is an optional business process. The business process can be made mandatory using “Preferences” in “System Management” menu.

You can watch the following videos to learn more:

• ACME MEDICAL Expense Report Business Scenario
• ACME MEDICAL Expense Report Implementation Part 1
• ACME MEDICAL Expense Report Implementation Part 2
• Expense Approval – Employee Perspective