Four Ways to Minimise Business Travel Expenses

• Get everything in writing. Having your management team tell you everything that you can claim for for your expenses is important. In fact, you should get it laid out as part of your contract. You need to ensure that you are keeping an eye on everything you are spending out on that is work-related, because if you don’t you’ll end up out of pocket. Make sure it’s specifically outlined in your contract how much you should spend on taxis and meals and accommodation or tips. Travel expenses for business can be further minimised by ensuring you know exactly what it is you can pay for and only paying for those things.
• Use an easy expense reporting system. One of the biggest expenses when it comes to business travel is your time. The time it takes to collect your expenses, pay them to yourself, pay them to other people - all of these things build up. You want to minimise the chance of any errors when it comes to accounting for every single business travel expense, and a simple reporting system can help you to do that.
• Be vigilant about expense reports. Human error is a big cost when it comes to your business travel expenses. When your staff or your colleagues are handing in their business expense reports, ensure that they are accurate and double check them with receipts before you pay anybody expenses. You don’t want to just put them through the system and pay out without checking.
• Book everything at the last minute. Booking too far in advance can actually cost you more money, but booking too close to the time of the trip can also be expensive. Airfare is quite costly when purchased at the last minute, but train fare is often cheaper. Consider websites that look to minimise your travel expenses for business at the last second and use discount websites where possible before you book any tickets.