News & Views from MyExpensesOnline

How to cap inflated mileage claims

For many companies, the most commonly inflated business expense is mileage claims, with research last year showing 71% of employees believe it to be ok to alter their expenses in their favour. 

When submitting mileage through an excel spreadsheet, it’s normally a long and boring task to go through and double check each and every entry. 

There is also the tricky maths to work out what rates different employees should be paid at after how many miles they have travelled in that year.

There are some simple ways of achieving consistency when dealing with mileage verification, but one of the easiest ways is to introduce an expenses verification policy, which outlines the rules on mileage expenses.

What you need to include in a Mileage Verification Policy

Your policy should include rules, such as:

  • Define points A and B points and only allow claims that travel from these postcodes.
  • In the policy you should state that the company will only pay mileage claims determined between postcodes regardless of what route is taken
  •  Look at amount of miles an employee has to travel from postcode to postcode and confirm it with them

However, the only problem with this solution is that it would cause an administrative headache for larger companies as they slowly sifted through the claims from each employee.

Organisations with more than ten employees benefit from an online expense management system such as MyExpensesOnline.

The system makes it easy for employees to input their mileage and it's equality as easy for employers to approve it. 

You can simply enter the postcodes of your journey and the route calculator will work out the number of miles you have travelled. 

Whether you use a personal, lease or company vehicle, all the data in the system can be stored, so your mileage will always be paid at the right rate. 

The brilliant thing about online expense system is that they can be accessed from anywhere in the world and company policies can be automatically updated on the system too. 

Along with accurate data inputting, online expense systems can help to reduce your costs, potentially saving you thousands each year.

If you have any questions or you are interested in the MyExpensesOnline system, please feel free to contact the team on 01270 611800 and they will be happy to answer.

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