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Such a major part of one's schedule also causes considerable expense. In fact travel is among the largest expenses an organization can incur. An individual traveling for work related purposes has many things hanging on the minds, and hence usually do not really have enough time to focus on other tasks, which can lead to careless spending throughout their travels. Keeping a careful tabs on such expenses has numerous benefits. Firstly the obvious financial side is kept in balance which is especially very important to new businesses. Secondly a proper documentation of expenses might help on a precise tax return. If your company has a policy for reimbursing you after your trip, then keeping a record will let you get your money back properly.
Don't worry, be app'y:
With modern tools making our life easier daily, there is no reason to assume that this convenience will not extend to traveling. With smartphone's inside our pockets, life is considerably more organized (if not easier in the truest sense). There are many smartphone applications (yes that is a terrible pun in the heading) which you can use to keep track of your travel expenses. The best thing about them is that most of them are completely free. Such apps include Expensify, inDinero, Mileage Log+, BizXpense Tracker, Concur Mobile and Shoeboxed.
Business in the Cloud:
For individuals who just use their phones for the phone's core purposes of calling, there is another option. If they're not partial to their phone, businessmen or corporate officers,without exception, use a laptop. And that laptop has programs which can help them keep track of travel expenses. Microsoft Office's spreadsheets is one of these. Microsoft Office Online is another tool which saves data in a cloud storage ensuring that it is safe and also easier to tell your coworkers.
It's the simple things in life:
This point is quite trivial but most people don't look after it anyway. Keep read more on your receipts. This can help you later if you are racking your brains on where that couple hundred bucks surely got to.Make a note every time you get a receipt on your phone or a small notepad and take a photo of that receipt. This might sound too much but when you're back in the office trying to ask the business to reimburse you, you will be glad you achieved it.
Organization is key:
Being organized never did do anyone harm. You need to embrace it when traveling. An hour at the end of every day before submiting, keeping and maintaining a list of the expenses for that particular day. Also make sure to be up to date on your own company's travel policy - it has information on things it'll reimburse you for and for all those it will not. That expensive bottle of whiskey could come out of your personal pocket. Hence read up first.
As businesses grow, so does the quantity of traveling they entail. And of course the business travel expense associated with it. But you will keep ahead by following the tips outlined above.
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