A business meal, a tank of petrol or a train ticket – in most companies, expenses are incurred almost daily and are advanced by employees as out-of-pocket expenses. With finway, all receipts can be submitted digitally, managed and reimbursed quickly and easily.
All employees can quickly and easily upload receipts and request reimbursements through the mobile apps or on their computers
With finway cards, you reduce the expense reimbursement workload right from the start
Intuitive workflows ensure convenient reimbursements. No paperwork, no spreadsheets, no stress.
Whether you are traveling, in the office or in the supermarket: receipts are uploaded to finway quickly and easily and are automatically read out via OCR.
You can reimburse expenses directly in the tool to the bank account of your employees.
Simply provide your employees with finway cards. This way, they can make flexible expenditures for your company without having to advance their own money. You can see all expenses in real time and no longer have to make refunds later.
Intuitive workflows ensure a smooth process. Vouchers are uploaded quickly, approvers are automatically selected and notified depending on the amount and setting.
You always have a holistic overview of all reimbursement requests and already completed expense reimbursements. You can also apply for cards and set limits for each employee.
With finway cards, you give your employees the resources they deserve. Whether for supermarket purchases, travel expenses, office supplies or software – with the physical and virtual cards, your team can make flexible purchases offline and online. You can apply for as many cards as you like for each:n employee:in, set individual limits and thus always have all cards and the associated transactions under control. With finway cards, you can reduce the expense reimbursement effort.
Since not every transaction is made via a finway card, cash expenses may still occur. Spontaneous purchases that employees make in advance are also no problem with finway. Thanks to automated receipt entry and uncomplicated expense reimbursement, employees can easily upload receipts and get the corresponding amounts reimbursed quickly.
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.
Do i need a template for my reimbursement requests?
finway eliminates the need to fill out an Excel template or other documentation for reimbursements. The software takes care of all the relevant steps for you and shows you exactly what information is needed apart from the invoice or receipt you are uploading. E.g. this can be the description of the expense.
Without a software like finway and when employees handle lots of expenses with their own money , companies are well advised to have at least one uniform expense reimbursement template available to simplify the accounting department’s work. This is basically just a simple document that contains the employee’s name + bank account details and all expenses requested for reimbursement with description, amount and date in tabular form. The corresponding receipts must not be missing, of course. Whether these then end up digitally or in paper form in the finance department, and how the template and receipts are “stapled together” (e.g. everything in a ZIP file?), is then up to the company. It should be obvious at this point that the procedure is considerably simplified and accelerated with a modern tool for such processes.
Our experts will guide you through the tool in approx. 30 minutes without obligation and will work out potentials for your company together with you.
