Understanding the Process of Expense Management and Its Benefits

Any business’s finance department is central to its success. The responsibilities of this office are vital for the day to day activities of the firm. The management of all financial matters of the company including overseeing the expenses of every person associated with the business and making sure that every penny is accounted for is one of the biggest challenges the financial department face on the daily. To ensure a return on investment for the business, every expense must be checked and verified by this department and protect the company’s bottom line.

In many cases, small businesses perform their expense management tasks manually. This used to be the traditional way of doing expense management, but things are changing fast. Manual expense management use spreadsheets and other basic tools to track employee expenses, which can be overwhelming and inefficient because business grow and the number of employees increases. When this happens, manual employee expenses tracking methods become extremely hard to keep up with. If you are in the telecommunications business, there is a bunch of top telecom expense management companies offering this service at affordable rates.

Tasks Involved In the Expense Management Process

There are several tasks involved the business expense management process. Some of these tasks can be daunting, especially for bigger companies with an extensive employee base. The manual expenses management process includes the following tasks:

Recording Employee Expense Statements

Employees requesting reimbursement for business-related expense such as tuition expenses, relocation expenses, and business trips must do so via the submission of an individual expense report. This report must include both the header and record details of all expenses associated with the employee. Before the submission, the employee should verify the amounts indicated in the report including the general information.

Approval of the Expense Statements

Many organizations require the employee’s expense report to be approved by a supervisor or one of his/her superiors. At this stage, the report can either be accepted or rejected. If the report is rejected, the employee is supposed to revise and submit again. If it’s approved, the status of the report will be changed to indicate that’s it’s ready for audit before the reimbursement.

Audit

Not all expense reports are subject to audit, but when necessary, an auditor will go through the expense report comparing it against provided receipts to confirm that the information corresponds. Just like supervisors or another superior who approved the report, the auditor can approve or reject the report if the information does not add up.

The Actual Reimbursement

If an employee’s expense report passes all the stages above, it’s ready to reimbursement. Companies use different methods to reimburse their employees. The employee will be notified once their request is processed.

Some businesses choose to use an expense management software to streamline their expense management processes. There are some benefits of using this kind of software, but that will depend on the size of the firm and the software you choose. If your company’s expense management process is increasingly becoming …

Getting a Business Loan for Small & Medium Enterprise made easy

If you are a small or medium business owner in India, you will know how cumbersome the process of acquiring short term working capital can be. Quite often you might have to rely on the local financiers, who not only charge a higher interest rate but may also impose arbitrary restrictions on the financing. The fact that India has more than 5.5 crore SMEs at present, and most of them are facing the same issues related to small & medium enterprise loans, equates to a reality check of its own. Is your business growth being hindered by the unavailability of quick and easy finance options?

Well, you can now avail risk free short term loans for your business with LendingKart. A fintech startup, LendingKart promises verification of documents and approval of loan application within 3 days. And the best part is, you do not need to stand in a queue for application and submitting your documents, everything is online. Read on to learn more.

LendingKart’s aim is to make the life of small and medium business owners easy by providing quick loans starting from Rs 50000 upto a value of 1 crore Indian rupees. The EMI schedule is also flexible and the rate of interest you pay is personalised according to your credit score and business requirements. Here is all you need to do to get and instant loan for your business.

Apply Online for a Business Loan

 

Visit the LendingKart website and register for a free account. Once you verify you email and other details, you can start the application process. You are required to input basic information about yourself and your business and move on to the documents upload screen. Here again, the document requirements are kept limited to bare necessities.

The documents required for your Small & Medium Enterprises Loan are:

  • Bank Statement of your business for past one year (till date)
  • A proof of registration of your enterprise
  • Income Tax Returnsstatement (only if your annual revenue exceeds INR 1 Crore)

And yes, that is all. Once you have uploaded your document, they are sent to LendingKart’s group NBFC for verification. The company guarantees processing of all documents within 3 working days of reception. Upon successful verification of your documents, you will be offered the terms of loan by the company. These terms are determined based on your credit history, credit score and annual revenue.

If you choose to accept the terms of your Small & Medium Enterprises Loan, LendingKart will initiate the transfer of funds within 24 hours. You will be charged a one-time processing fee and that’s that, no hidden charges whatsoever afterwards. You can also choose to renew your sanctioned loan amount after repayment without paying any additional charges.

The benefits of Small & Medium Enterprise Loans by LendingKart

 

While there are banks and other finance companies offering loans for businesses, the specific requirements of small businesses are not being effectively catered to by these institutions. Your short term working capital needs can arise …

Tips to Sell on Amazon UK

You must be aware of a lot of people who are making money through selling on Amazon. If you are attracted to work in a similar way, sitting back at home, then you must be aware of these bunch of useful tips.

As you intend to begin selling on Amazon, the first thing you should be careful about is a listing of the products and inventory management.

Refresh your stock day by day to maintain a strategic distance from purchasers acquiring things you no longer have in stock. This is particularly essential on the off chance that you offer a similar stock through different sites, using mail-request or in your shop.

When valuing your things, look on Amazon.co.uk to perceive how much different dealers are charging for comparable things. On the off chance that a thing has been recorded for over 30 days without offering, check how competitive its cost is and bring down it if essential.

Keep in mind the Holiday Settings highlight may take up to 36 hours to expel your postings when you switch it on, and up to 36 hours to include them again when you turn it off. Amid this period, postings can’t be adjusted or erased.

Related Guide: How to Sell Products on Amazon UK

Try not to utilize this component as a contrasting option to evacuating your postings. Next, you should be specific about Order management. Check Your Seller Account frequently for critical exchange refreshes instead of depending only on email notices. Get to your account at www.amazon.co.uk/selleraccount.

Give fantastic client benefit, which incorporates dealing with discounts and returns in an opportune way. Discount arranges that you can’t satisfy inside 48 hours and issue discounts for returns within five business days of receipt.

Try to react to client messages inside 24 hours to elucidate any open inquiries. After this deal with Fulfillment. Continuously dispatch your things within two working days of request notice. This is a prerequisite of being a Marketplace vender. Incorporate a pressing slip with your thing.

You can utilize the one gave you ‘Sold – dispatch now!’ email, print it from your Seller Account or make your own. Remember to incorporate your arrival address. Incorporate a note in your bundle with your contact data and encourage your purchaser to leave input.

You additionally need to guarantee that you give great Customer benefit Answer all purchaser inquiries and messages inside 24 hours.

Great communication with purchasers advances great input for dealers. Giving client benefit in the official dialect of the offering stage is a necessity for offering on Amazon.co.uk. As a feature of a decent client encounter, purchasers will hope to get suitable client benefit in the official dialect of the stage. Ultimately security is essential too.

Change your secret word frequently. Consider setting up a different financial balance for distributions from your Amazon seller account.

Amazon.co.uk will never email or call you to request that you unveil or confirm your Amazon.co.uk secret word, MasterCard or ledger number. Such data ought …

Using Maps In Business – 10 Tips From The Experts

This article, a prequel to my forthcoming 101 Map Uses, offers 10 productive ways businesses can use wall maps. Too often, business professionals equate maps with the online digital variety that provide directions, the nearest Home Depot, and homes for sale, all from the comfort of a computer, PDA, or cell phone. Yet, millions of businesses use printed wall maps daily. Fortune 500 companies insist on using high quality printed maps in their day-to-day operations because there is simply no replacement for maps. While the digital map has its own uses, a well-designed printed map is by no means old school. To the contrary, wall maps keep up with the modern needs of business and are in high demand.

  1. Wall maps serve a multitude of purposes, the least of which is decorative eye candy, although this is a distinct use that has more value than you may think. We’ll get to that in a minute. Printed maps are handled in the office from everyone from the CEO, sales manager, executive assistant, accountant, and truck driver. This article is less for the professionals who already use maps, but for those who want to learn what the Fortune 500 know.1. Corporate Identity A map sets the scene and provides a sense of place. These are instrumental forces for business moral. 3-meo-pcp Companies, whose stores or service area are mapped and on display, ground the staff in the here and now, never losing track of the geographic identity of the company.
  2. Display A handsome or beautiful map displayed in a store or office environment is a positive reinforcement to customers and clients that the company is grounded, committed, and knowledgeable about the area. If the map reflects the company’s identity; it speaks a thousand words to customers who enjoy it. One such map that I recall was prominently framed in an office foyer. Virtually every visiting client that entered the office saw that map and made a compliment. This was a compliment to the map maker, but also to the company for having the good judgment and wisdom to have it created and displayed so prominently. The map depicted the company’s geographic service area in beautiful detail. It wasn’t a tourist map or something from the Better Business Bureau. The point of the map was not to demonstrate how clever the company is, but how knowledgeable they are of their service base and how invested they are in the communities they serve.

  1. Store Locations

As a map maker, I get requests by medium and large companies to make them a map showing the locations of their stores. This may seem a mundane point, but more often than not, the map I make is the first map these companies have ever had that depicted the geographic location and relationship of their stores. This is a powerful concept not to be dismissed. There are a variety of online map tools that allow you to cobble together such a map, but they inevitably fall disastrously short …

Road Accidents in India Take Multiple Lives Everyday

With the number of road accidents increasing by 8%, sadly, India still manages to occupy the #1 position in terms of road accidents each year worldwide, according to an published by The Times of India on March 22, 2017. It was further added that if the trend continues, 2.6 lakh deaths will be reported by 2030, of which, people aged between 15 and 29 would be the most vulnerable to mishaps. Another study revealed that over 1,37,000 people were killed in road accidents in 2013 alone, which is actually more than the number of people killed in all our wars put together. It is thus becoming mandatory to buy term insurance to deal with such uncertainties, assuring financial stability to your family in case of any unfortunate event.

Thinking of the most unwanted thing that can happen to a road user would be an accident. Unfortunately, we don’t seem to be learning from our mistakes. Even after being completely aware of the general rules and safety measures to adopt while using the road, it is our own lack of vigilance or errors that is causing these crashes. Use of mobile phones while driving, over speeding, jumping the red light, avoiding safety gear like seat belts and helmets, not driving in the lane and overtaking in the wrong manner are some of the many common behaviours of individuals that result in accidents. External factors like potholes on the roads, especially during rainy season, the other driver’s fault, insufficient lighting at night, stationary vehicles left on the road, illegal constructions and minors driving are also leading to accident-related deaths. Here’s a look at the major causes of road accidents in India.
Mixing Drinking and Driving
Studies show that for every increase of 0.05%in the blood alcohol concentration leads to the risk of road accident doubling, and driving in a drunken state most of the times proves fatal. Drunken driving incites humans to take risks. It is alright to celebrate an occasion with alcohol. However, it shouldn’t be mixed with driving, since it can turn a celebration into a misfortune. After consuming alcohol, the driver loses concentration, while vision and reaction time are hampered. The reaction time of the body decreases because the brain takes longer to process stimuli. There are many drugs and medicines that also affect the skills and concentration necessary for driving.
Mobile Phone Addiction
In today’s fast paced world, people avoid wasting a single minute, for which many of us don’t hesitate to answer a phone call while driving. This leads to reckless driving, becoming a potential reason for road accidents. When you are talking on your mobile phone, a major part of your brain is occupied in that conversations, while the smaller part is taking care of the driving. This reduces a driver’s reaction time and his ability to judge, causing crashes.
Desire to Leave Other Vehicles Behind
Why is it that many of us confuse normal driving with Formula One racing? Maybe it is our need to …

Services Provided by Vortex Financial Services

There are a lot of financial service providers which are mainly sought by the people who desires to retire and spend their remaining days with comfort. The retirement planning is done at an early age will help you notice amazing returns on your investments. The main benefit of planning the retirement at an early age will mainly consist of the assets that are accumulated over time thereby distributing it properly during the lifetime as well as afterwards. Thus keeping this in mind, the Vortex Assets provides the following services.

Retirement Planning

Vortex Assets provides service for all the individuals dealing with their retirement plan at the early stage even if the individual is going through a lot of obligations in life. These plans help them to make a proper decision which is mainly due to the restrictions of money and time. Thus the individuals are liable to get every service which would bring a steadiness in their financial aspects along with security.

Professional Investments

There are a number of individuals who are masters of investing in the stocks and businesses. But the stock market is defined to be a volatile one and hence they seek advices from the top most companies. Vortex Assets is striking to stand among the most innovative financial service providers helps these individuals to make the right decision at right time.

Tax Assistance

It is a normal fact taxes are applicable on any profits which are received from investments. All the future retirees witness higher returns on the investments and need explaining how tax payments can impact different retirement plans. It is way to make the days of retirement of the future retiree not only comfortable but luxurious as well. Thus it is important to understand the most suitable options. This is because the tax payments will enter the picture in an unavoidable manner. Vortex Assets are aware of this.

Insurance Services

Everyone foresees a healthy life be it before or after the retirement. But it is an obvious fact that health naturally takes a downturn with advancing age. Vortex Assets also specializes in retirement planning in which the retiree can use insurance services in order to assist future financial goals. The services offered by this service provider can offer a strong financial support of their dear ones in case of unpredictable situations associated to their health. The future retiree can suffer from various illness and diseases and the services offered by this service provider can help them manage and plan their finances during the requirement of excessive medical expenses.

Smart Tips For Finding Lighting

Guide to LED lighting

LED lighting or light emitting diodes is by far the most energy-saving and a smart solution when you compare it with those other methods of illumination available in the market today.

It started out by utilizing these diodes via a DC circuit to emit light to extend the battery life that is used for flashlights and other light emitting gadgets like cellphones and etc. it then included vehicular headlights by using specially designed reflectors, intensifying its brightness and the length of its coverage while still maintaining its efficiency. There are many advantages to using LED lighting which can now be run from an AC supply. So before they were only considered to be DC devices operating from a few volts of direct current but now has a more robust application that requires the same amount of voltage such as the linear strip lighting systems around the outside of a building that stretches for a hundred meters. Since DC drives suffer power loss over distance it then brings a different consideration. This means that it would now require the use of higher drive voltage from its starting point then once the voltages starts to drop, you will then have to use additional regulators to maintain that voltage. Something you do not need to do with an AC or the character of an ‘Alternating Current’ since it can maintain the voltage despite the distance. This has always been the problem with DC power and the reason why it is not being used to transmit power across our streets and cities.

Today running LED lighting from an AC supply means converting your AC supply to produce DC power to operate your LED lights. Applications or options came to do that – converting AC to DC power to run LED lights. In order to provide the required DC voltage, there are many stand alone fixtures that have a transformer between the wall socket and the fixture. Today, there are companies that provide LED light bulbs that screw directly into standard sockets, but they contain miniature circuits that convert AC to DC before it is delivered to the LEDs. The problem with these types is that its upfront cost are quite costly. However, there are a lot of people who would argue that despite the high upfront cost you would eventually lower your power bill remarkably.

The early for of LED lights is what is called the Christmas tree light approach. Here multiple LEDs are connected in series so that the voltage drop across the whole string equals the supply voltage.

Attempts at developing true AC LED are beginning but today we still have to wait for this big technological leap that is seen as an upgrade from analog to digital. The advantages of LED lighting over conventional lighting are so great that it will not only benefit the user but the planet as well.…

Advantages of Do Business WhileStudying on College

Study while doing business is one option on www.topcreditcardslink.com to overcome the problems of financing student tuition. But sometimes this choice is a tough choice. Especially for the dense lecture schedule or its business again many orders. Actually there are a lot of advantages and benefits that will be obtained for students who choose to study at the same time while doing business. Indeed, for the first time will feel heavy. But if continuously performed and unyielding it will produce something extraordinary.

Sometimes there are also students who ran lectures while doing business was finding the feel and even be a fun activity. In addition, students who do business since college I possessed several advantages compared with students who did not / have not been in business since college. For example, the ability to see opportunities, managerial and marketing capabilities and much more.

The most important benefits if the student has been in business since college is know the meaning of hard work and discipline. In addition, students also know how it feels to find the money themselves so they can appreciate the money that will be obtained. Which is usually obtained from the parents’ money and wasted. Can now utilize well as hard to earn money. Here are some benefits to be gained when you are a student who has been in business since college:

Your Business Creativity will be honed

College is an event looking for the experience as much as possible, in order to have a provision to face the challenges of life in the community after graduation. Therefore, take advantage of existing business you are running as a means to exercise creativity.

Have Many Relationships

In business, you must have involved a lot of people. From the start of customers who buy or use your products, suppliers, shipping agents, employees, business partners to friends who are members of the business community in which you are also registered. By doing business then you have a chance to build relationships or wider network. This is a non-financial capital that is essential to the smooth running of your business in the future.

Experience in Making Money Even Before Graduating

The more a side business that you wake up and get into, then you will more and more have valuable experience in making money even before graduating from college. So, you can be financially independent since his youth.

Smarter in Managing Financial and Time

If you choose the college while doing business, it means you are ready to learn and is required to be able to manage your time and finances carefully. You can train your finances and time management via a business you are and do.

More Business Idea You RunCan

One moment, you are running a business college can be a great business if you want to persevere. So, in college, you can try many business models, so you have the opportunity to choose what business you eagerly later. It could also be that your business idea “sell” …