What are some tips and tools to manage your expenses and receipts while on the road?

1 Use a mobile app

One of the easiest ways to capture and store your receipts is to use a mobile app that allows you to scan, categorize, and export them. Some apps even integrate with your accounting software, credit card, or travel booking platform, so you can sync your expenses automatically. Look for an app that has features such as optical character recognition (OCR), cloud storage, multi-currency support, and expense approval workflows.

2 Set a budget and track your spending

Before you embark on your trip, set a realistic budget for your travel expenses, such as accommodation, transportation, food, and entertainment. You can use a spreadsheet, a budgeting app, or a travel management tool to help you plan and monitor your spending. Compare your actual expenses with your budget and adjust accordingly. You can also use your bank or credit card app to check your balance and transactions regularly.

3 Keep your receipts organized

Even if you use a mobile app to scan your receipts, it is still a good idea to keep the original paper copies in case you need them for verification, audit, or dispute resolution. To avoid losing or mixing up your receipts, use a folder, an envelope, or a ziplock bag to store them separately for each trip, client, or project. You can also label them with the date, amount, and purpose of each expense.

5 Use a travel card or a prepaid card

Another way to simplify your expense management is to use a travel card or a prepaid card for your business trips. A travel card is a credit or debit card that offers benefits such as low or no foreign transaction fees, travel insurance, rewards, and security features. A prepaid card is a card that you load with a certain amount of money and use like a debit card. Both options can help you avoid carrying cash, control your spending, and reduce the hassle of exchanging currencies.

6 Automate your mileage tracking

If you use your own vehicle or rent a car for your business trips, you may be able to claim mileage as an expense. However, tracking your mileage manually can be time-consuming and error-prone. To make it easier, you can use a mileage tracking app that uses GPS to record your trips, distance, and route. Some apps also calculate the mileage rate, generate reports, and integrate with your expense app or software.