Make recording expenses and mileage as painless as possible!
Xero Expenses is a mobile app that can improve the claim process for both expenses and mileage. It’s a download from your mobile app store that links to your Xero file using the existing login.
Expense claims start from scanning a purchase receipt, although (helpfully) there’s also a “no receipt” option. Mileage entries can be made manually or can draw the distance driven from Google Maps. Both types of entry need certain details to be added (see below) before being published to Xero as a bill (supplier invoice). Expense and mileage bills can then be grouped and refunded in one payment.
Expense capture apps are primarily aimed at pulling in expenses paid with the owner/employee’s own money for reimbursement by the company. With Xero Expenses you can also add expenses paid from the businesses own bank/card accounts – setting them up for reconciliation against statement entries in the normal way.
From the accountant’s view point, the great benefit is that submitted expenses can be viewed online and, if needed, changes can easily be made without troubling clients – the fiddly VAT claim on the fuel element of mileage for example.
The cost is currently £2.50 + VAT per month per user.
Before committing to changing your expense process, try it out with a couple of expense items that you’re not going to enter elsewhere.
More details here.