How to track your business travel expenses


Canada, 4th November: Do you travel frequently on business trips and want to keep a track of your business travel expenses? Read on to know how to do so—

Canada, 4th November: Do you travel frequently on business trips and want to keep a track of your business travel expenses? Read on to know how to do so—

In today’s highly competitive world, businesses are making constant efforts to bring costs under control. And all business owners want to bring down their costs by keeping a regular check on their costs-be it operational costs or business travel costs.

Bringing down costs has become all the more relevant especially as the economies continue to rise after severe economic shocks reckoned by one of the worst global recession last year.

Here are a few handy tips to keep a track of your business travel expenses—–

Become organized—You can become organized while on a business travel. Its quite simple. You can do so by bringing along any folder or an envelope while travelling in order to keep your various receipts for any costs incurred or payments made intact rather than keeping them unchecked and facing the risk of losing them in your business travel.

Use one credit card—A good way of consolidating your business expenditure is to limit your spending to a single credit card. This can help you in tracking your various costs without bothering you to club them together from different credit cards.

Reviewing your credit card statement—Making a review of your credit card statement can prove to be of great help in allowing you to review your expenditure. Several credit cards categorize your expenses under various sub-heads like food, travel, lodging and auto expenses.

Hence, such break-down of expenditure is of great use for business owners who need to travel quite often for business purposes. A good thing is to use any credit card that comes with a points program under which you will be rewarded for the amount spent by you on travel.

So, now you see that by a regular upkeep of your business travel expenses with the help of a little planning can bring down your expenses relating to your business travel and also save you from tracking your expenditure after returning from your business trip.