Save More Time On Your Expense Reports

We intoduced a service called Xpenser a while ago, which provides a great way to make sure all those small and not so small business expenses make it to your expense report.

It’s a great little tool for people that are out of the office a lot – and that could describe us.

As a quick reminder, here’s how Xpenser works.

Xpenser is as simple as it is clever. Sign up and send an email to a special email address every time you have an expense. The subject field of your email describes the charge.

For instance, “Lunch $12 on my way to the airport” records an entry for this category (lunch), the amount ($12) while including the expense description. Alternatively, “Project Blue $7.50 copying report for update meeting” will create a charge assigned to Project Blue. Handy if you’re a professional and bill your clients for expenses on a project basis.

A secure page that only you can access displays all your charges. You can sort by expense category, date, amounts are added and you can export all of this information to Excel, Quicken or Freshbooks for billing or accounting purposes.

Missing at the time, though, was an easy way to record your business miles. Recently, Xpenser added that small but important feature to their product.

You can now set your preferred conversion rate (say $0.505, the 2008 IRS standard rate), and automatically convert your miles to currency. Include the keywords “miles” or “mileage” in your expense and  “customer visit 95 miles” would get converted to “customer visit 47.98 (95.0 miles at 0.505)”

Other new features include support for multiple currencies for our international road warriors.

Folks, this is a great tool. If you haven’t done so already, give Xpenser a try.