November 2015 will see the introduction of a very exciting new business expenses app, ExpenseIn, for those of us who as part of our general routine have to manage a large number of receipts and complete the associated VAT returns in order to make allowable expenses claims for businesspurposes with the HMRC.
Historically, individuals have had to collate all the receipts that they accumulated driving around the country's motorways, attending client, partner or investor meetings and presentations, staying overnight at hotels or B&Bs, while grabbing lunches and lattes on the go. All those receipts would have to be retained and filed, which would invariably mean an overflowing, receipt-stuffed wallet, or desktop spikes with pierced and crumpled bills going all the way back until last Christmas and beyond.
But that's not all.
As a company employee, they would then have to spend hours filling in spreadsheets for the finance department, who would in turn have to scrutinise those returns and interact with said employee until all parties were satisfied that the claims and receipts matched up, with each claim legitimate and in keeping with the latest UK tax requirements. A huge amount of combined company hours.
The ExpenseIn App Solution
So for the self-employed, finance department and business owner, the facility that ExpenseIn provides to track and organise expense records comes as an absolute godsend.
Importantly, a USP of the ExpenseIn app is that it comes from UK tax specialists, with a working knowledge of UK tax law and business practices, who are therefore able to ensure that all updates are fully compliant with the latest in HMRC developments.
Furthermore, the app itself looks extremely efficient, practical and simple to use - receipts are captured and then discarded while their record is easily accessible and exportable in the cloud-based storage system; expenses can be submitted in an intuitively simple way; approval flows are straightforward and logical to set up; and policies are quick to establish or amend.
But what's also very attractive is ExpenseIn's pricing system, which, especially with the annual payment plan, is tremendously competitive, with costs close to half of those of some main competitors.
So taking into account the breadth and depth of ExpenseIn's features, simple yet thorough setup and pricing, we at Geekanoids really can't wait for its November release.