5 ways to manage your business mileage!
Pen and Paper: Outdated, time consuming and inaccurate however, much of the UK still logs business mileage for tax reimbursement manually. Remember, all UK mileage logs need to be kept for 5 years - that's a lot of trees!
Spreadsheet: A step up from pen and paper and it's presented clearer although, still prone to inaccurate data recording. Have you ever rounded your mileage up in to save time?
Online calculator: Many of these tools exist. The problem is it's still not a reflection of the true cost. To and from destination logging misses key data such as car type and emissions. A calculator tool would need to be used in conjunction with a tool, such as point 1 and 2.
Company expense platform: Many organisations now use expense tools for logging business expenses. This is a great way to capture data and manage reimbursement but, comes at a far greater financial cost to the organisation. Many expense tools still lack an accurate tracking feature therefore, manual input is still required.
Mobile app: By far the most accurate of the bunch. Most applications on the market are fully automated, reduce administration time and come at a fraction of the cost when compared to corporate expense tools.
For more information head over to Psngr and try our mileage expense reimbursement tool for free.