How many times have you tried to do an expense report, only to realize you have no idea how many miles you may have driven? It seems simple enough to just go online, figure out the distance, calculate the reimbursement and add it to the expense report.
However, most automated expense management systems now include integrated mapping technology to calculate mileage reimbursements, which streamlines the entire process. For example, ExpenseWatch incorporates MapQuest mapping technology right into its expense software, enabling customers to easily add maps for mileage expense reimbursements, or any other expense category for that matter.
Maps lets expense report filers quickly and easily calculate mileage reimbursements while building expense reports. They can also add maps to other expense categories, if set up by a system administrator, so that managers can track spending by geographic location.
Maps can be saved as an attachment, or as an interactive file, giving approvers a lot of flexibility to review expense items before making an approval. Plus the information is then stored in the system and is accessible through various “Maps and Locations” reports to be able to analyze spending from a geographical perspective.
The maps feature lets you map exactly where the spending occurs when you are traveling. For example, maps can be added to show where an employee was during a business meeting or when entertaining clients, highlighting where employees are spending their time and the company’s money.
How to Submit Mileage for Reimbursements Using Maps
From a submitter’s perspective, adding maps is straightforward and easy. A common location can be easily saved for future use, such as the round trip from home to the airport or repeat client visits. And new locations are added by setting a start and end point. Multiple locations can be added to show travel during a day, and the system automatically updates everything. Multiple maps can be saved to one expense line to document multiple distances or locations. Total distance traveled from all maps on the line item is automatically calculated, as well as the employee reimbursement amount.
Deductible Business Miles
The mileage reimbursement amounts will be based upon company policy with the rate being set within the mileage category by system administrators. Often companies use the optional standard mileage rates for substantiating the amount of deductible expenses for using an automobile for business, moving, medical or charitable purposes set semi-annually by the IRS. A mouth-full for sure, but it is the IRS after all, and it wants to be very clear as to what is being included in these rates. For the first half of 2015, that rate is set at 57.5 cents per mile for business use of an automobile.
Deductible business use of your car does not cover normal commuting to your usual place of work. Qualified deductible business use includes:
Approving Mileage Reimbursement Requests using Maps
There are benefits to the approvers as well. As an approver reviews an expense report, they have full visibility to any attached interactive or static maps which helps support approval decisions. As mapping data is added to mileage and other categories, an analytical transaction report can be generated that shows the geographic perspective of spending.
For example, a sales manager now has the ability to analyze where sales representatives have traveled and what expenses are associated with their specific activities. This can be helpful in visually understanding territory management and account representative activities.
To learn more about how mapping technology can help you streamline mileage reimbursements, fill in the form to the right one of our experts will reach out to you shortly.
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