Learn the best ways to manage your expenses | Compliance, Fraud & VAT
Posts about Compliance, Fraud & VAT
How to Track Your Small Business Expenses in 4 Easy Steps
Sometimes it is a real struggle for many small businesses to keep operating costs under control. In fact, paying operating expenses was the most common financial problem identified in the Federal Reserve's Small Business Lending Survey, with 47 percent of business owners saying they would be forced to use personal funds if revenue was not received within two months.
5 Signs That Expense Claim Fraud Might Be Occurring In Your Enterprise
You may not know, but organizations around the world lose approximately 5% of their revenue to employee fraud and occupational abuse each year. And while the scope of employee theft and position abuse cannot be understated, it’s important to act right at the core of this issue. That’s the only way to prevent occupational theft in the future. But how to recognize the fraud in your enterprise? Here are 5 signs that can help you with it!
Is Your Expense Subject to Singapore’s Central Provident Fund (CPF) Income Taxation?
It is the one thing that rattles and distresses all employees - completing expense claims accurately so as to receive payments in due course. Expense management is critical to any business, large or small, and setting up a process in your organization is a key component of any business operation.
Expense fraud in the public sector : how to avoid it
Large corporate frauds have shaken both the private and public sectors in recent decades. The negative consequences of these frauds are significant, but difficult to quantify and measure. Their consequences are often financially and reputationally damaging to organizations and therefore not widely reported.
How to Improve Your Business Management With Online Accounting Software
Accounting is a crucial aspect of your company's success. Automation and Artificial Intelligence (AI) now allow you to optimize accounting, from expense management to VAT reporting.
HR or Finance - who should operate expense management?
Historically HR and finance have not been the best of friends mainly due to a perception that one cares about people and the other about money. Still today in many organizations, human resources and finance are two distinct business areas and sometimes with nothing related to each other.
Expense Reports: What You Need to Know for Optimal Management
The expense report is used to prove any work-related expense incurred by employees. Also called business expenses or expenses claim, the expense report is used for the reimbursement of the employee. It also enables the company to prove the expense, when requested by tax authorities, for example.
The weak points of Excel for corporate finance processes
When we look at the history, MS Excel was released by Microsoft way back in 1985 and it is fair to say that Excel has transformed the world of accounting and business in that time. But since then the world has changed dramatically and according to the Wall Street Journal, a lot of large companies are phasing out Microsoft Excel nowadays¹. CFOs of such companies like Adobe or ABM Industries complain that their employees take too much time to work with Excel accounting spreadsheets.