2015 Webinar:A Guide to Effective Expense Management Strategies

This year, 2015, is the year for every company (startups like Serzfus Startup Technology or those who have already established its foot on the ground), should adopt a cloud based expense management system. It is crucial for businesses today to have an effective expense management strategies for their operation. If you are one of them who don't want to be left behind by the latest technology, check out this following webinar schedule.

 Webinar spots fill up quickly—click here to register.

 Date: Wednesday, March 25, 2015

Time: 2:00 P.M. Eastern Time

Duration: 1 hour

Recommended CPE Credit(s): 1 Field of Study: Specialized Knowledge and Applications

Craziest Business Expenses in 2014 [Infographic]

Here's an infographic from Certify.com showing the top 10 craziest business expenses in 2014 made by 60,000 business travelers.  You will be surprise by the list and added on the list is the 5 worst excuses why the spending happens.

Click on the image below to enlarge it. Original infographic source: https://www.certify.com/2015-01-21-Infographic-The-10-Craziest-Business-Expenses

The list of expenses made is quite funny but too serious not to look at by organizations and failing to manage these spending properly will surely lead to a much bigger problem for the company. Related article: The Importance of Expense Management in Business and Great Startup Tips from Various Entrepreneurs.

Which of these list did you encounter during audit, reimbursements or when you travel? Now I am wondering what will be the list will look like for 2015 spending. Leave your comments below for that.

Travel For Less: How to Look for Free or Reduced Cost Accommodations

One way of managing your expenses is having a well planned travel. The following is one good read regarding how to look for low cost accommodating saving you a lot of money and hassles. Check it out now.

You always dreamt of travelling abroad, but the problem is, you don’t have enough budget to do such thing. You haven’t prepared for the travel expenses that you are about to spend when you travel abroad and this is quite a thing to consider. But when you are just wise enough to consider and anticipate these problems and budget issues, then you won’t have any problems.

Mind you, if you are just willing to do a little homework and if you have a schedule that is flexible enough to take advantage of the last minute opportunities, then you can surely travel for less and on a budget. You can still travel on a very cheap or low price and still have a very satisfactory experience that you’ll never imagine to have. But the question here is how?

Travel Expenses: Costs you May Deduct for Reimbursements

Business trips are often costly not just for the company, but also for your personal savings. When you travel, sometimes, what the company gives us is not enough for our travel expenses and we still need to withdraw from our savings account just to compensate the extra or emergency expenses that may arise during our business trips. But you must not worry because this can be included in your list of reimbursements for travel expenses. Right now, what you need to do is to determine which costs you may be able to deduct and which are those that can be reimbursed by your company as soon as you get back.

One thing that you can deduct and be reimbursed is your transportation fee. Always keep in mind that you can deduct costs to travel by train, bus or airplane between your tax home and your destination. You may also deduct costs of operating and maintaining your car, if you bring it along with your business trip. If you will be using the standard mileage allowance, you can also deduct tolls and parking expenses. The fare you pay for taxis and buses are also refundable.

In the meantime, baggage and shipping fees can also be reimbursed. Costs for baggage delivery or for shipping business materials between your regular work location or tax home and a temporary work location are also deductible. And lastly, lodging, hotel fees, and meals are also included or part of your trip so these things are also deductible. I’m sure you won’t be worrying about having business trips because every travel expense that you make is being paid by the company.

Expense Management Tips on How to be an Effective and Profitable Business Owner

If you are a business owner, of course, the only thing that you wanted to happen is for your business to become successful in a way and for you to increase your profit each month, if possible. Who would want his business to fail, right? But it is given the fact that before you achieve something great, you will first deal with a lot of stress and anxiety in dealing with your business.

Here are some of the expense management tips that you might use in order for you to become an effective and profitable business owner who knows how to reduce stress of managing his or her business.
It is very stressful to manage a business but what you really need to do is to learn how to manage your anxieties. Be smart in how you deal with your business problems. Do not try to tackle everything all at once.

When facing a current or upcoming task that overwhelms you with a lot of anxiety, break the task into a series of smaller steps. Completing these smaller tasks one at a time will make the stress more manageable and it will increase your chances of success. You surely want to succeed on your business, right? Then you must learn to overcome these problems and anxieties. Learn to take it one day at a time instead of worrying about how you will get through the rest of the week or coming month, try to focus on it today. And when the time comes, you’ll just get used to it and you will now develop the skills on how to deal with the situation.

Expense Management: Learning How to Manage Expenses for Home Business Opportunities

Usually, most of the business owners give little attention to home business opportunities when they are starting on a new business, and usually, they take "expense management" for grated, leading their business into a failure. Basically, most of the promoters of a business opportunity only talk about the income opportunity and seldom if ever discusses the expenses that will be incurred while running a home business opportunity. They should not take this for granted and they should also learn that whatever management skills you have in a home business, it is still being considered, and most of the discussion usually falls on how you manage your time, your employees and your customers as well.

Learning how to manage your business expenses is quite important. Your business will surely fail if you mismanage your expenses and worse, it will even put you further in debt. I guess you don’t want that to happen, right? What you need to do then is to always keep in mind that managing your business expenses is the very essence of conducting your business, and therefore, you should receive your serious consideration and planning prior to establishing your business.

The first thing that you should consider when you manage your business expenses is your budget. How much money are you going to spend on production? What is your advertising budget? It is important for you to plan for these and other expense contingencies for you to become prepared for future expense. Then, you can also consider having multiple sources of income because in this way, you may be able to cover the expenses running your own website and possibly also generate additional income to expand your products and services. Lastly, your home business will grow more steadily when money flows smoothly in your business. The bottom line for any company is profits and most of the time you will need to spend money in order to gain profits for your home based business opportunity.

- Expense Manager Blog

Expense Management Stress: How to Cope with Anxieties on Managing a Business

Having and owning a business can become stressful and can cause you panic attack sometimes, especially when you are having stress problems with your expense management skills. It is unavoidable to have stress when you deal with finances on your business. A lot of business owners experience this kind of stress and it can become challenging for you to make your business turn into a success.

We have cited in this article some of the ways on how we can reduce or eventually eradicate stresses of owning and managing a business. And the first thing that you should consider is to manage your expenses by paying your bills on time. This will help you cope with your expenses and not to double the payment the next time you need pay again.

You need to develop a budget and do not spend more than what you make. Also, learn to reduce your expenses as much as you can and learn to pay your bills on a regular basis so that your customers will not be bothering you later on getting paid. It is also important for you to learn to manage your responsibilities by assigning certain tasks to others, say for instance, to your employees. You cannot do this all alone. You need help. Let your assistance do the accounting if you can’t do it yourself or if you don’t have time and only do what is important and learn to delegate the rest. And probably the most important thing that you can do is to develop a business plan and follow it because being organized and oriented can really help. Always remember that managing a business can be really stressful, but the key is knowing how to manage your anxieties and continue to make solutions for any problem.