Automating Canada expense management can help you gain control of your business expenses and improve your company's bottom line. By reducing the costs associated with processing Canada expense reports as well as streamlining the process involved to create, approve and reimburse employees, significant savings can often be realized.
As a rule of thumb, if employee expenses exceed the $200 to $300 range, the cost of automating your Canada expense management will likely pay for itself. Typically, expense tracking software can assist you in accounting for a wide range of expenses, including:
Not only does expense management software help expedite the process from submission to reimbursement, but it also helps companies keep tabs on where their expenses are going.
By analyzing trends in expenses, companies can work to curb any excess or unnecessary costs, and also can be assured that expenses are being approved uniformly company wide. For example, if a manager routinely approves meal expenses in excess of the allowed maximum, the expense report software can be programed to reject the expense, thereby curbing excess expenditures.
Reclaiming Value Added Tax (VAT)
Reclaiming VAT can be time consuming. Automating your expense reporting can provide you with improved capture and tracking of expenses with VAT. In addition, invoices appropriate for retrieval can be easily identified, and the VAT refund process can be expedited.
Goods and Services Tax (GST)
Accounting for GST can be complicated if you try to calculate everything manually. Choose only Expense Manager vendors with experience automating the calculation of these types of taxes.
Software as a Service (SaaS)
SaaS is increasingly becoming popular in Canada expense management. Because it requires no IT infrastructure and is relatively low cost, many companies are automating their expense reports using SaaS. With several new expense management companies offering intuitive and easy to use functionality, SaaS continues to gain market share.
In addition to expense management, many companies find it easier to contract a Payroll Service Provider to handle their payroll needs. Not only do companies save the time and effort it takes to calculate and process payroll, but companies also find having someone else handle compliance helpful.
Calculating, filing and paying federal and provincial payroll taxes properly and on time is one of the main reasons companies find hiring an outside payroll processing provider beneficial. Click on our "Canadian Payroll Services" link below the form for more information.Home › Canadian Payroll Services › Canada Expense Management
Get a Free, No Obligation Expense Report Quote from PayPros, Inc. now. Or call (888) 693-4611 for a complementary expense report analysis.