Track Business Expenses Prudently

One hundred dollars on coffee? Yes! You may be spending $100, or even more, on coffee each month and you may not be aware of it. If you do not drink coffee, it can be office stationery, or tea, or even the office workers’ taxi fare. It is easy to lose trail of where your money is going. It can seem burdensome and unnecessary to keep a record of small expenses. Yet, it is important because small expenses can quickly morph into a large hole in the budget. Businesses are aware of it. Large companies keep a meticulous record of their money. Small business, who cannot afford to waste a cent, are more ambivalent, when it comes to expense tracking.

A person takes care of several responsibilities in a small business. With so much workload, it seems unreasonable to keep a spreadsheet, or a traditional dead wood accounts book, to track expenses. It is time consuming and it takes attention away from core tasks. This approach creates difficulties in the long run, as small businesses may not know where their money has been going.

An expense tracking software promises to solve the problem in a single shot. A modern software, such as Talygen’s expense tracking software, is convenient to use and possesses powerful capabilities. Such a tool keeps a track of expenses, makes tax filing easier, and reduces the number of items placed into the “miscellaneous” category.

Modern time trackers are spreadsheets time consuming machines. They are light years ahead of spreadsheets, in terms of convenience and capabilities. They make expense tracking easier. It is more convenient to review where the money has gone through these tools. It makes accounting more fun and less of a cumbersome task.

A big advantage of using time tracking software is that business owners become aware of the money drainers. Once armed with this information, they can begin to cut down on expenses on unnecessary objects, such as using the most expensive Italian tiles in closet when your business badly needs investment.

Expensive tracking software are a useful tool for small businesses. They can help them reduce expenses and keep their budget in good health. Excellent project expense tracking software do not have a steep learning curve.

In what manner expense tracking tool can benefit enterprises.

Are you struggling to keep a tab with your business expenses? Whether you are an independent contractor, own a small business or a large company, having an effective process to track all your billable hours and client’s expenses is an essential requirement.

The benefits of expense tracking tool is farther reaching than what most anticipate. When it is involved with a project, the true benefits come out. Talygen makes expense management easy with online and mobile solutions that drag it all together.

With this tool just forget worrying about receipts getting lost. When end of the year will come, we will be busy with celebrations and merry making and I do believe that we must allow ourselves time with or dear ones and friends; this tool will surely save your time. You won’t have to track your expenses, at the end moment. You can do so, right at the moment you are requiring them. So, be it’s a business meeting, an official trip, client lunch or travel expenses, you can access Talygen’s expense tracking tool, input your information and you’re done. No forgetting expenses or dates.

With expense tracking tool all business expenses are tracked, recorded and saved at one place. It allows you to capture all kind of expenses accurately. The invoices can be automatically generated and you can sort them by an employee, project, trip or category.

The online expense tracking tool can potentially track expenses for every project, client and company location separately. This helps an enterprise to easily bill clients and refund employees, monitor costs, generate profit reports and consequently plan budgets. That helps to make conversant spending decisions. But if you are still using spreadsheets, it’s the time you should seriously start evaluating your sheets and expense tracking software. 

Why Should Small and Medium Enterprises Use a Expense Tracker?

Every dollar counts, more so when a business is small. Large companies spend enormous sums on tracking their expenses down to the last cent. Their spread is so vast that they cannot afford to lose track of even a small amount for each employee. That would add up to a gargantuan sum. Situation is different in small and medium size businesses. They do not have many employees. So, the logic goes, they can afford to be easygoing. But can they?

Small and medium businesses have small revenues and smaller profits. They cannot afford to lose even one dollar. Yet, many of them are doing nothing about it. Miscellaneous expenses continue to blot expense lists of many small and medium businesses; and many of them are not doing much about it.

These businesses can save if they are they focus on their expenses, and keep notes of where their money is going. There are two ways to do it. The first method demands a skilled employee. This is infeasible for most small businesses. Employees cost money. The more skilled and credible an employee is, more it is going to cost to hire him, or her.

The second way is to use an expense tracking software. To use an online expense tracker is a less costly but equally effective method to track expenses and find out where the money has been doing. Subscription to a project expense tracking tool add a two-figure number to monthly expenses. On the other hand, an experienced employee will settle for nothing less than a four-figure salary.

Each employee in a company inputs expenses - transport, stationary, software, repairs, and others - and the software takes care of the rest.

Modern expense tracking software is capable of creating reader-friendly reports from raw data that employees input. Their accuracy is unbeatable. If the tool is an online expense tracker, businesses save on investments in an IT infrastructure.

Conclusion

Money matters, more so when a business is small. It is important to be in knowledge of where the money is going. There are two ways to do it - hire a professional or use an expense tracker. An expense tracker is more feasible for small businesses. It is accurate and capable and its use costs a fraction of the salary of an experienced accountant. Talygen is a PC Magazine featured time tracker for small and medium businesses.

Businesses Can Save Money With Expense Trackers

The economy continues to be in a bad shape and the unemployment is rising. Businesses are increasingly looking for newer ways to cut costs and stay afloat.

When it comes to cut down expenses, the first question businesses ask themselves is: where do we start? It is here that expense tracking software comes in.

There are more than a few businesses that rely on monthly credit card reports, and bank statements, to learn where their money is going. Although credible, this is not always the fastest and most convenient way to track expenses. Sometimes even a report, many may shed light on where the money is going. The intuitive and reader-friendly interface of Talygen business expense tracker comes handy here.

A lot of decision makers have realized this, and they are already using online expense tracking tools to learn about their expense patterns and make strategies to bring down costs. Expense trackers are helping them.

There are many excellent reasons which can be brought up in favor of expense tracking and use of an online expense tracker. This post lists the three most prominent of them:

Receipt management

Receipt management is not necessary if a businesses operates from a place where there is little financial auditing. For good, or for bad, there is not a single place in America where the Internal Review Service's (IRS) tentacles cannot reach and demand that tax be paid. An advantage of a project expense tracking tool is that it keeps receipts in orderly, digital form, where they are easier to access. This is a useful capability, and comes handy when the time comes to pay taxes; and when the IRS' sleuths land into an office for auditing.

Travel expense cost calculator

This feature is useful for businesses whose work demands plenty of travel. An expense tracker can be programmed, or set, to count expenses based on the number of miles traveled. For instance, businesses can set their tracker to $1 per mile and then the tracker multiplies this number with the distance traveled in the course of a year. It makes the whole task of figuring out travel expenses a lot easier.

Easier payroll

There are a few modern time trackers that integrate seamlessly with popular human resource tools and make the entire task of payroll management hassle-free. Talygen expense tracker integrates with the suite's payroll and human resource modules; reducing the time spent on entire work significantly.

Conclusion

Expense trackers are a very useful tool for businesses looking for novel ways to reduce their expenses. They are inexpensive tools which can be used virtually anywhere. There are several advantages of installing them. The most prominent of them are – receipt management, travel expense counter, and easier payroll services. 

A Quick Introduction to our Online Expense Tracking Software

This post provides an overview of our simple and powerful expense tracker. This Expense Tracking module is a part of a larger business solutions system. In the following paragraphs you will find answers to some of your most common questions:

What does this tool do?

This tool is an online expense tracking software. It collects and keeps a record of all your business expenses. It provides you with detailed reports of where money is coming from, and where it is going. Consequently it helps you make educated financial decisions about your business.

How does it work?

You input the expense you have made on a particular project and other business-related activities, and the project expense tracking software comes into play. It processes all the information and generates easy-to-read reports on the financial health of a project.

What other features are there in the tracker?

• You can set an upper limit to the expenses.
• You can bulk import expenses.
• You can sort expenses by categories.
• You can reconstruct detailed report for old expenses.

Will I have to hire a specialist to operate it?

No, you and your employees can learn to use the system in less than time you would spend to learn a social networking website.

Who is this tracker for?

This tracker is for small and large businesses. Anyone from a two-person business to a multinational organization with thousands of employees can benefit from this system.

How much does it cost to get started?

Nothing. We encourage companies to go for our no-strings-attached, 30-day trial version. So it does not cost you a cent for the first month.

You can find more information about the tracker on this website: http://www.expense-tracking-software.com/