The Art of Managing Your Travel Expenses
Corporate travel can be a challenge for even the most seasoned professionals. From hustling through airports, fighting for cabs and scheduling every second of sleep to the challenges of entertaining clients and getting to meetings on time, the art of executing a great corporate trip can take an immense amount of energy.
We probably don’t have to tell you that, though; after all, when you’re out there in the world of corporate travel, you have to learn the ins and outs pretty quickly.
One aspect of business travel that can be a real headache is tracking your expenses. You want to maintain corporate policies, but the tedium of writing everything down, rustling through bags for receipts and creating a report is fun for no one.
We’ve assessed and compiled a list of great ways to track your expenses during your next corporate trip; with these tools on hand, you can focus on the most important aspects of your trip, instead of creating expense reports.
Utilize Special Apps
The rise of technology has led to the development of tons of apps for tracking travel expenses. These apps are perfect for busy corporate travelers who don’t have time to keep up with receipts or the resources to create confusing documents.
Here are a few of our go-to apps for tracking expenses:
- Expensify (Free, Available on iOS, Android): It doesn’t get much easier to track expenses than with Expensify. You can upload and store receipts, compile information into a report and send the report to your company, all in one convenient, Smartphone app.
- BizXpense Tracker ($6.99, Available on iOS, Android): Although more expensive than Expensify, BizXpense offers portals to track multiple types of expense throughout your trip, including mileage, time and any purchases. You can then compile the information into a PDF and make a clean, concise expense report.
- Concur Mobile (Free, Available on iOS, Android): With Concur, you can track receipts and expenses, create expense reports and keep track of past expense reports in one convenient portal.
Utilize Special Software
If you aren’t fond of the idea of mobile apps to track your expense reports, you could invest in expense report software for your laptop computer. Here are some of our favorite options for software:
- Certify: This software will help you plan automated reports, track your expenses, and stay compliant with your company’s travel policies.
- SutiExpense: SutiSoft presents their expense report software, which allows you to link your personal and business credit cards and automatically track expense during your trips; you can also link the software to your company’s accounting databases, ensuring that your reports are delivered in a timely manner.
- ExpensePath: Yet another notable option for expense tracking software is ExpensePath, which offers easy modes for storing information and receipts and creating reports for your company.
Create a Special Folder
If technology, software and apps are simply not your thing, the easiest way to keep track of your expenses during a corporate trip is to create a special folder for storing your receipts and keeping track of what you spend.
A small, enclosed folder that has a clasp or closure can help you keep your receipts together. If you’d like to track expenses in a small notebook, you can put those papers in your expense report folder as well.
At the end of your trip, you can sort and compile all of your information into a concise report for your company.
Keeping track of expenses during your corporate trip is much easier with each of these methods; you can cut down on the time and confusion involved in locating receipts and logging your expenses.
Photo Credit: Harsha K R