News & Views from MyExpensesOnline

Controlling your staff expenses in 2013


As Network Rail has announced today that it is due to pay £33m to staff expenses accumulated over the last two years, it highlights the necessity to keep an eye on how staff are spending business funds.

Increasingly employee expenses are becoming more difficult to control, with limited resources to check inaccuracies, inability to enforce corporate policy and perpetually changing regulations.

Today we are looking at simple areas to control staff spending.



Is it fraud?

Without a comprehensive expenses policy it is very hard to define what items an employee can include on an expense claim and what definitely shouldn’t be claimed for.

According to the most ridiculous expenses from 2012 included a baby giraffe for ‘hospitality purposes’ and numerous pink flamingo ornaments!

If you have an expense policy in place, any confusion can easily be resolved by referring to a document before submitting a claim.

If you need help creating your first expense policy then email where we can send you a helpful how to guide.



Forgetful employees

Employees can sometimes forget what they have claimed for in last month’s expenses or may feel they are owed an extra penny or two and attempt to put a claim through twice in the following month’s payments.

Trying to track what an employee has submitted previously can be incredibly tricky for the finance team to identify without an effective expenses management system in place. Simply sifting through excel spreadsheets for each member of staff to check through previous claims wastes time and could quite frankly send your payroll staff a little bit mad, especially when they are rushing to get last minute claims through for payment.


Incorrect mileage

If we take an average sales person driving approximately 500 miles a week, they should be charging the company 45p for the first 10,000 miles.

However, after exceeding the 10,000 miles they should only be expecting 25p for his mileage.

If your company fails to spot this limit, you could be potentially paying your typical sales person an extra £400 a month based on just 500 miles a week.

This may be a very simple mistake to make, but one that will cost your company thousands of pounds throughout the year.


Internal Policies

It’s not just your employees that could be costing your business money through inaccurate expense claims. If you don’t have the right systems in place in your company then you won’t be recovering the VAT you are entitled to.

Last year MyExpensesOnline helped our customers reclaim thousands of pounds of VAT through accurate submissions and proof of purchase with receipt attachment.

The automatic triggers within the expense software highlight how much your company is owed, without a member of the finance team having to trawl through a variety of data sources to calculate a final figure. 


External compliancy

As we continually keep up to date with the latest HMRC legislation and apply it to our software, our customers benefit from 100% compliancy, avoiding incorrect submission or hefty late fines.


Have we convinced you yet that our expense management software is the best option for controlling your expenses? Call 01270 611800 to try a free demo of our software or talk to the dedicated expense team who can discuss the options that will suit your company best.