On December 10th, 2014 the Internal Revenue Service issued Notice 2014-114. This annual document announced the 2015 standard mileage rates for business, charitable, medical, or moving expenses. Beginning January 1, 2015, the standard mileage rates for use of an automobile (which includes vans, cars, pickups or panel trucks) will be:
Nearly two years ago, ExpenseCloud was acquired by TriNet, a leading cloud-based provider of HR services to 1000s of clients in a variety of industries. TriNet’s core services include Payroll, Benefits, Workers’ Compensation and employment law compliance. Since the acquisition, TriNet has dedicated a great amount of investment to help improve the ExpenseCloud product and grow the team to best serve you, our clients.
TriNet has utilized both organic and acquisitive means to become a multi-product company with offerings designed to meet the requirements of various markets, industries, and clients. In order to bring this entire array of products under one common brand, TriNet is releasing a new brand architecture unifying all products under the TriNet corporate name, logo, and colors, while still keeping the distinct product names.
You will notice the new branding appearing on the ExpenseCloud website as we transition to the name TriNet Expense. This change should have no impact on you. We are proud to be part of a company that shares our commitment to providing everything businesses need to manage the entire expense reporting process online or from a mobile device. Changing a name is never simple and will take several months to fully implement, including rebranding our mobile apps. You can continue to access your account from www.expensecloud.com or soon from our new URL, www.TrinetExpense.com . To learn more about TriNet, please visit us www.trinet.com. If you have any questions, please feel free to contact our support team at firstname.lastname@example.org.
On December 6th, 2013 the Internal Revenue Service issued Notice 2013-80. This annual document announced the 2014 standard mileage rates for business, charitable, medical, or moving expenses. Beginning January 1, 2014, the standard mileage rates for use of an automobile (which includes vans, cars, pickups or panel trucks) will be:
- 56 cents per mile for business miles driven
- 23.5 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations.
The rate for business miles is actually one-half cent down from the 2013 rate, mainly due to the cost of fuel decreasing from last year. When entering in mileage, an employee has the option of entering in an odometer change, miles driven, or can actually calculate the distance driven by using Google Maps directly from our application. When the miles driven are calculate by any of th
e above options, this is then automatically multiplied by the rate you have setup for your company. With ExpenseCloud, our system always defaults new users to the current IRS business millage reimbursement rate. Company owner can decide to change this rate, or have users select their own rate within our company settings section. To change your company mileage rates to comply with the new 2014 IRS rules, please go to Settings > Company Settings and enter in .56. Once saved, all employees will have their accounts updated to this new rate.
ExpenseCloud’s latest release features the ability to install multiple company files within one accounting integration. This feature benefits Administrator users who need to manage expense reporting for multiple companies or subsidiaries and prefer to do so from a single account. Company Owners and Administrators will need to share the integration to specific users with controlled permissions. Users will no longer have to install the integration separately on their individual account as the company owner/admin can enable the integration in the Manage Users settings. The following instructions will provide information on sharing integrations, allowing users to setup their own integrations, and setting up a secondary integration.
How to share the current integration:
1) Company Owners and Admins (who have an accounting integration already installed) can edit their current integration by viewing Settings > Personal Settings > Reports > Intacct / NetSuite / Quickbooks > Edit.
2) A new selection box is shown “Make Integration Visible to Company.” Please check this box if you would like to share the integration with specific users within your company. Click “save” to update your current integration.
Polycom Stock Drops 15% Following Expense Report Fraud
This past week, the CEO of Polycom, Andrew Miller, unexpectedly resigned from his position as President and CEO of the company after “irregularities” had been discovered in his expense reports. He took responsibility for the policy infringement and willingly stepped down from his position. Shares for the company dropped and $273 million in market capitalization was lost as a result of the resignation. The ordeal leaves a harsh reflection of the financial integrity of the company but allows it to rebound in the right direction. You can read more at UC Strategies Report.
The latest update to our mobile applications includes updates to the reports page, time tracking, mobile receipts, and expense policy warnings. You can download the latest versions of the applications at iTunes Store or the Google Play Store.
Managing Department Policies
Our March 13th release contained a power new feature for expense policies – the ability to filter the policy by expense location and department. Here are some examples:
Color Coded Expenses in ExpenseCloud
The team at ExpenseCloud has been busy adding some new features for our users these past few weeks. Here’s a cool new feature just added this week – a color coded way to see each billable and Non-Reimbursable Expenses in an expense report. Just check the box (Billable or Non-Reimbursable) to show which expenses contain these attributes. It’s a time saver and one that will help reconcile those corporate cards much faster! All of our new features will be released on our mobile applications so that they match ExpenseCloud’s online service.
On January 1, 2013, the Internal Revenue Service issued the 2013 IRS mileage rates. According to the Internal Revenue Service, the standard mileage rates are used to calculate the deductible costs of operating an automobile for businesses, charitable, medical or moving purposes.
Adding Mileage to Expense Reports
ExpenseCloud users have the ability to manually enter in the number of miles/kilometers they drove or use ExpenseCloud’s Google Maps Mileage Tracking.