Simple management of your travel expenses: With automatic calculations of additional per diem expenses and mileage allowances, rule-based workflows for approval and transfer to DATEV, you can complete your travel expense report in no time at all.
All employee expenses, whether on a business trip or not, can be reimbursed directly in the tool to the stored bank account. Vouchers and receipts can be conveniently uploaded via the app.
Simply select entertainment as a request, specify who was present at the business meal and differentiate between individual items (food, drinks, etc.). This allows all employees to process entertainment receipts directly in finway.
Depending on the size of the company and the travelling activities of the employees, and without clear processes or the right tools, expense management in companies can become complex and time-consuming. A lack of approvals or expense guidelines makes it difficult to reimburse expenses later on and can lead to frustration among travelling employees as well as the finance department. You can automate your expense management with the right tool or simplify expense accounting. This results in the following benefits for the company, among others:
Analogue expense reports can cause frustration and annoyance, especially for employees who travel a lot, if the reporting becomes too complicated, receipts have to be collected in folders and reimbursement takes too long. With finway, receipts can be uploaded quickly and easily, the necessary approvals can be obtained transparently and the entire expense report can be completed digitally and without a great deal of effort. This not only pleases finance teams, but the entire workforce.
What are expenses?
Not all expenses incurred by employees for the company are legally considered expenses. In order to be reimbursed by the company free of tax and contributions according to § 3 No. 50 EStG, the expenses must have been significantly caused by the company and the employees must not have a personal interest in the purchase. In addition, the amounts must always be accounted for individually. Expenses do not constitute wages and are paid to employees in addition to their wages.
What is a reimbursement of expenses?
Reimbursement or reimbursement of expenses are monetary amounts that an employee receives after spending, i.e. after having spent something for the company.
What is cash in transit, what are transitory funds?
Cash in transit, or transitory funds, on the other hand, means money that employees receive before the actual expenditure in order to spend it for the company. For example, this could be money for the weekly purchase of fruit or the regular purchase of printer paper.
Under what conditions can a company properly account for expenses?
For small amounts up to 250 euros gross, so-called small value invoices, a cash receipt or a receipt is sufficient as proof. In order to claim the input tax deduction as a company, taking into account the expenses, an invoice is required in accordance with the legal requirements.
With finway, the receipt or invoice can also be uploaded directly into the tool on the go and automatically read out via OCR.
What is a lump-sum reimbursement of expenses?
In the case of an itemised allowance, the reimbursement of expenses is tax-free and is paid in addition to wages. In special cases, however, a lump-sum reimbursement of expenses can also be paid regularly as a tax-free salary. The expenses must be recurring. Employees are obliged to provide individual proof of the flat-rate expenses paid for a representative period of three months. The flat-rate reimbursement of expenses generally remains tax-free and can be paid regularly without proof until significant changes in expenses occur. In principle, the flat-rate reimbursement of expenses paid may not deviate significantly from the actual expenses.
‘It’s just one tool and no longer three, I no longer have to work with the Excel spreadsheet and export, convert and re-import files between the tools.’
‘finway saves us a lot of time thanks to its own cards when employees want to buy something, and the month-end closing has become much more efficient.’
‘We didn’t use to have a defined approval process – now everything is multi-levelled and traceable. Everyone knows exactly who has to approve when. That saves time and prevents chaos.’
‘All expenses are managed in one place, which helps to maintain an overview. It also has a really good reporting system.’
‘We use finway cards to cover around 90-95 per cent of our expenses. The management of travel expenses via the tool also offers huge added value for our employees.’
‘With finway, we have brought our accounting into the 21st century, saving several hours a week and significantly increasing quality at the same time.’
‘The export function in particular is a relief, both for us and the tax office, as we receive several hundred invoices a month.’
‘finway has helped me a lot to make the finance department scalable and ready for all future challenges.’
‘Thanks to finway, our bookkeeping is up-to-date again. We used to search for over 100 invoices every month, now everything runs like it should.’
We will be happy to find that out in a meeting with you. A few points for orientation – finway is suitable for companies that:
Does this sound like you? Then schedule a free demo now! Our experts will guide you through finway in 30-45 minutes and work out the potential for your company with you.
