Tallie’s 2015 Tax Season Manual

Long hours, stress, and incredible deadlines–the 2015 tax season is well underway. Wish you had some straight-forward accounting advice? We’ve got you covered. Enjoy this selection of blogs about tax code, the IRS, and getting through the 2015 tax season in one piece!

Tips for Surviving (and Thriving) During the Busy Season

taking-a-break

Sometimes, when faced with a crushing deadline at work, our healthy habits are the first things to go. You don’t always have to sacrifice your sanity in order to make it through the busy season. We’ve catalogued ways of caring for your mind and body that will not only help you feel better, but are proven to boost the quality of your work.

Four Things You Need to Know About Deducting Business Gift Expenses

Tallie Blog Business Gift Deduction Expense Reports

Just as you can expense business meals and entertainment, you may also deduct a portion of the amount you spend on gifts for colleagues, clients, and employees. But there are limitations as to who you can give to, what you can give them, and how much of a deduction you can receive in return. Here are four things you need to know about successfully deducting business gift expenses.

Let Us Entertain You: Tips for Deducting Your Business’s Meal and Entertainment Expenses

Blog-Tallie-Food

Entertainment expenses, such as the cost of meals and shows, are subject to particular scrutiny from the IRS. The complicated, ambiguous rules surrounding these kinds of expenses can make it difficult for business owners to know which costs are deductible. We give you a better idea of what qualifies as an entertainment expense, and how it can be successfully deducted.

Tallie Q&A: Mileage Tracking, Expense Reports and the IRS

Tallie-expense-reports-mileage-expenses-iphone-or-browser

Nothing attracts more scrutiny from the IRS than business mileage expenses. But are the records required for deductions the same as the ones for reimbursement? How do you know which records to keep? Here are answers to some common questions from Tallie users.

Looking for ways to save time this tax year? Tallie’s expense management software automates expense reports from start to finish.

Try Tallie’s powerful expense management software FREE for 14 days – no credit card or commitment required. Give it a try by signing up today. Care for a walkthrough by a trained expert first? Contact us to schedule your free Tallie product demo now.

This March, Become an Expense Report Guru with FREE Tallie Training Webinars!

Throughout the month of March, we’re offering free weekly webinars to ensure you get the most out of our expense report software.

These webinars provide free training for users, administrators, and approvers alike. Lasting only 30 minutes, each training session is packed with information ranging from product guidance to live Q&A with Tallie Experts.

Register for a free March webinar below!

tallie-expense-report-training-webinar-live

TALLIE USER TRAINING

1. Walk through the creation of a Tallie expense report.
2. Share the tips and tricks to create your expense report in a few minutes.
3. Answer any and every Tallie question you have.

Register:
Tuesday 3/3 8:30 – 9:00 am PST
Tuesday 3/10 8:30 – 9:00 am PST
Tuesday 3/17 8:30 – 9:00 am PST
Tuesday 3/24 8:30 – 9:00 am PST
Tuesday 3/31 8:30 – 9:00 am PST

APPROVER TRAINING

1. Walk through the expense report approval process within Tallie.
2. Show the expense report edit feature for specified approvers.
3. Answer any and every Tallie question you have.

Register:
Thursday 3/19 8:30 – 9:00 am PST

ACCOUNTANT TRAINING

1. Provide a tour of the Tallie Accountant Portal.
2. Walk through the client account management process within the Accountant Portal.
3. Show how Tallie streamlines your accounting workflow with 1-click multi-point export and bi-directional accounting system integration.
4. Answer any and every Tallie question you have.

Register:
Thursday 3/12 8:30 – 9:00 am PST
Thursday 3/26 8:30 – 9:00 am PST

ADMINISTRATOR TRAINING

1. Walk through how to set custom policies and approval levels within Tallie.
2. Show how Tallie streamlines your expense workflow with multi-point data export and bi-directional accounting system integration.
3. Answer any and every Tallie question you have.

Register:
Thursday 3/5 8:30 – 9:00 am PST

If you have any questions between now and your chosen training webinar, please don’t hesitate to contact our Product Expert Team directly at support@usetallie.com or 888-874-1118 Ext 2. We hope to see you there!

Tallie How-To: Cash Advance Workflow & Expense Reports in QuickBooks Online

Tallie’s bi-directional integration makes it easy to import data from expense reports into QuickBooks Online. If you are a QuickBooks Online user who wants to create cash advances for your employees, here’s the best solution. This article will cover:

  1. How to create a cash advance account in QuickBooks Online.
  2. How to create and pay the cash advance.
  3. How to create the credit.
  4. How to apply the credit to Tallie’s exported bill.

1. To Create a Cash Advance Account in QuickBooks Online:

Click on Transactions, then Chart of Accounts, and then New.

Select Other Current Assets as the category type, which will reveal Employee Cash Advances. Select this option.

Tallie-expense-reports-quickbooks-online-cash-advance-1

Click Save.

2. To create and pay the cash advance:

Click on the plus icon, then and select Bill under the Vendors column.

Input the amount you want to advance your employee, then map it to the Employee Cash Advances account.

Tallie-expense-reports-quickbooks-online-cash-advance-2

Click Save and close.

Next, click the plus icon, then select Pay Bills under the Vendors column.

Click on your newly created bill, then select Make Payment.

Click Save and close to cut the check.

3. To create the credit:

Click the plus icon, then select Vendor Credit under the Vendors column.

Enter the amount of the cash advance, and assign it to the employee. Be sure to map it to your Employee Cash Advances account once again.

Click Save and close.

Check Your Work: Click Transactions and then Chart of Accounts.

Scroll down to the Employee Cash Advances account and click the arrow under the Action column. Select Report from the drop down menu.

Tallie-expense-reports-quickbooks-online-cash-advance-3

Make sure that the Bill and Vendor Credit are both present and that the Employee Cash Advances Account has a zero balance.

Tallie-expense-reports-quickbooks-online-cash-advance-4

4. To apply the credit to Tallie’s exported bill:

After your employee spends the advance, they will submit their expense report in Tallie. Approve the report to export it to QuickBooks Online.

Tallie-expense-report-quickbooks-online-cash-advance-5

Click Pay Bills under the Vendors column in QuickBooks Online.

Find your employee’s expenses beside their available credit. Occasionally the expense and credit amounts are equal. However:

  • If your employee spent more than the total cash advance, the excess will be paid with the bill.
  • If your employee spent less than the total cash advance, the remaining credits can be kept to use later.

NOTE: You may also ask the employee to pay back the difference right away. In some states, terminated employees are not legally obligated to repay any advances or loans to their ex-employers.

Tallie-expense-reports-quickbooks-online-cash-advance-6

Click the employee’s name, then the Make Payment button.

Tallie-expense-reports-quickbooks-online-cash-advance-7

You may now apply the credit. Check the boxes next to the Vendor Credit and Bill.

Tallie-expense-reports-quickbooks-online-8

A popular, fast-growing alternative to cash advances is the PEX Visa Card. PEX Cards allow you to preload funds for your employees without the risk of misuse. All charges made on your PEX Card appear immediately within Tallie for review.

Want to learn more about Tallie’s integration with QuickBooks Desktop and QuickBooks Online? Check out these helpful guides:

QuickBooks Online & Beyond: What It Means to Have True Bi-Directional Integration for Expense Management
Five Reasons to Make the Switch to QuickBooks Online for Expense Management and More
Invoicing Expenses in QuickBooks Online: Optimize Billable Expenses Through Service Items, Attachments and Markups

Automate your expense reports with Tallie FREE for 14 days – no credit card or commitment required. Care for a walkthrough by a trained expert first? You can schedule a free Tallie product demo with one of our experts.

Tallie & PEX Card Webinar Recap (Video Inside)

Tallie and PEX Card hosted a webinar to share a simple solution for dramatically improving the expense management workflow. We affirmed that petty cash was dead, and that Tallie & PEX Card killed it. Our solution saves money, eliminates busy work, prevents fraud, and offers total control over your expenses. Best news of all? We’ve saved the recording for you.

Listen to our CEOs discuss:

• Gaining industry-leading controls without the cost.
• The right tools & best practices to prevent expense fraud at your business.
• Replacing annoying cash advances & risky corporate cards with the smart option.

To learn more about how Tallie & PEX Card can work for your business, sign up for a personal demo.

Tallie Q&A: Mileage Tracking, Expense Reports and the IRS

With tax season well underway, many people are scrambling to make sure their records are ready for the IRS. In truth, nothing attracts more scrutiny from the IRS than business mileage expenses. But are the records required for deductions the same as the ones for reimbursement? How do you know which records to keep? Here are answers to some common questions from Tallie users.

Q: My employer reimburses me for mileage expenses. Do I need to keep a mileage journal within Tallie?

A: No. Mileage journals are required by the IRS when deducting expenses not already reimbursed by your employer. You may not seek a deduction for reimbursed expenses–therefore, there is no need to keep a mileage journal within Tallie. The information your employer requires may vary based on specific internal controls–however, Tallie will automatically inform you if your expenses are in violation of company policy before you submit your expense reports.

There are a number of ways to record mileage in Tallie. If using an Android phone or tablet, you can actually track your trip in real-time just by hitting “start” and “stop” at the beginning and end of your route. Tallie will automatically record the date, addresses, and miles traveled.

Tallie-expense-reports-mileage-expenses-android

This feature will soon be available in our Tallie iPhone app as well. In the meantime, if accessing Tallie through your browser or iPhone, just enter your start and stop locations via our mileage submission tool. We’ll chart your route through Google Maps and calculate the total distance.

Tallie-expense-reports-mileage-expenses-iphone-or-browser

Depending on your company’s policies, you may also need to provide the reason for your trip, as well as the Class, Billable states, Department or Project, just as you would with any other expense.

Q: I do not receive reimbursements for my mileage expenses, so I want to claim a deduction. What proof does the IRS require?

“Documentary evidence ordinarily will be considered adequate if it shows the amount, date, place, and essential character of the expense.” – IRS Publication 463

A: The IRS is very strict about proper mileage documentation. However, sufficient records are more a matter of consistency than complexity. First, let’s assume that you have decided to use the standard mileage rate provided by the IRS. For each trip that you plan to deduct, you must write down:

• The number of business miles traveled.
• The date(s) of your trip.
• Your destination, and the business purpose of your visit.
• The total number of miles driven during the tax year.

All in all, it’s not much more than what your boss would expect to see on your expense reports. Here’s the tricky part: this information is only considered adequate proof if it’s been recorded consistently throughout the year. A mileage journal, a diary, a pad of paper you keep in your car are all fine, provided that you write the information down in a “timely and accurate” manner (IRS Publication 463).

The IRS does not accept estimates, however accurate your memory may be. At the very least, you should be keeping a weekly record of all your expenses (IRS Publication 463). It is NOT necessary to record an odometer reading for each trip. You only need to record the odometer twice a year: once on January 1st, and then again on December 31st.

If you’d rather not use the standard mileage rate, you can deduct your actual vehicle expenses instead. This method sometimes leads to a bigger deduction, but it requires significantly more recordkeeping. You must include the cost of maintenance, insurance, licenses, oil, repairs, tires, tolls, depreciation, and registration fees for your vehicle. Then, you will have to calculate how much of these costs can be attributed only to the number of miles driven for business purposes. If audited, you’re required to provide all relevant receipts.

Know that once you choose to deduct the actual vehicle expenses, you may not switch to the standard mileage rate for that vehicle again.

Q: I track my mileage and submit it on my expense reports. I get some reimbursement from my employer, but it’s less than the rate allowed by the IRS. Am I entitled to any kind of deduction?

A: Yes, but only a partial one. You may claim no more than the difference between the allowable IRS deduction and your reimbursement. You may also choose between the standard mileage deduction rate and actual vehicle expenses, as outlined above. In either case, you will be required to provide your detailed mileage log above, receipts (if deducting actual vehicle expenses) and a record of your reimbursements.

Looking for an easy way to record mileage for your expense reports? Use Tallie’s award-winning expense management software FREE for 14 days – no credit card or commitment required. Or, schedule your free Tallie product demo now.

Tallie & Intacct Webinar: Automating Expense Reports, Cloud Accounting & Zero-Click, Real-Time Integration

The future is coming, and it’s automation. Are you ready? You know that automating your expense reports with Tallie is a simple way to save time and money. Now, Intacct and Tallie have partnered to form the ideal accounting system for businesses that want to stay relevant well into the future.

Our very own Jules Carmen and Justin O’Neill gave a webinar demonstrating Tallie’s powerful, zero-click, real-time integration with Intacct. Topics included:

• Can cloud accounting really create revenue opportunities?
• Increasing ROI by the thousands every hour.
• How automating expense reports can save your firm money.
• The future of the accounting industry, and the right tools and best practices to thrive.

Want to see for yourself? Feel free to check out the webinar recording below:

VIEW OR DOWNLOAD THE SLIDES:

Try Tallie’s award-winning expense management software FREE for 14 days – no credit card or commitment required. Or, schedule your free Tallie product demo now.

Tallie Feature Support for Each Version of QuickBooks Online

Tallie is proud of our robust, bi-directional integration with all three versions of QuickBooks Online: Simple Start, Essentials, and Plus. However, just as each version of Intuit’s Cloud-based accounting software offers different features, Tallie supports these different features appropriately in each.

Here are the features supported in each version of QuickBooks Online:

 Simple Start  Essentials  Plus
 Checks  Yes  Yes  Yes
 Vendors  Yes  Yes  Yes
 Items  Yes  Yes  Yes
 Terms  Yes  Yes  Yes
 Accounts  Yes  Yes  Yes
 Purchase orders  No  Yes  Yes
 Bills  No  Yes  Yes
 Projects  No  No  Yes
 Class  No  No  Yes

 

When users try to export an unsupported feature from Tallie, they will now be prompted to upgrade their version of QuickBooks Online.

Tallie-expense-reports-quickbooks-online

If you have any questions about our expense report software, or our integration with QuickBooks Online, feel free to call our support team at 888- 874-1118 Ext 2. We’d be happy to help you out!

Automate your expense reports with Tallie FREE for 14 days – no credit card or commitment required. Care for a walkthrough by a trained expert first? You can schedule a free Tallie product demo with one of our experts.

HIRING: Email Marketing Intern

About Tallie

Our high-growth SaaS company is looking for a highly motivated Email Marketing Coordinator to join our team.This role offers a unique opportunity to jump into a fast-paced, energetic team and gain experience working with a variety of departments and collaborate on all types of projects.

Tallie is cloud-based business expense report automation software that streamlines the entire expense management process.

Overview

  • Looking for a team player that has familiarity/experience within Cloud/SaaS/Technology and/or Accounting/Finance (major plus)
  • Email Marketing Intern works with marketing team to create, implement, and maintain diverse email and webinar campaigns for a variety of channels.
  • Webinars and Lead Generation, including all logistics pre-, during and post-webinar follow up.
  • Content creation for variety of inbound lead channel nurturing campaigns, as well as test, measure, track and optimize your work.

Responsibilities:

  • Implement and maintain lead nurturing programs, including webinars and email marketing.
  • Coordinate webinar program, including scheduling, invitations, and personalized post-webinar follow up.
  • Maintain webinar calendar, including all logistical details.
  • Execute email marketing program, including monthly newsletter.
  • Work with Marketing Team, Hubspot, and Salesforce.com for executing campaigns and tracking results.
  • Coordinate and traffic campaign materials to partners, vendors, and internal groups, communicating specific campaign instructions and/or details by the provided due date.
  • Review partner websites and communications for changes and new opportunities.

Desired Skills:

  • Positive, enthusiastic disposition
  • Interest and/or experience in finance/accounting a huge plus
  • Highly motivated self starter with an insatiable desire to learn new things
  • Consistent ability to deliver high quality work on time
  • Excellent verbal communication
  • Strong organizational skills and detail-oriented by nature

Think you’re the perfect fit? Email a copy of your resume and cover letter to alicia@tallie.com, and a bit about why you want to join our team.

www.tallie.com

Position Title: Email Marketing Intern

Location:  San Francisco (SOMA)

Type: Unpaid Internship

HIRING: Social Media Marketing Intern

About the Social Media Marketing Internship

There’s never been a more exciting time to join the Tallie Team! We’re looking for a Social Media Marketing Intern with a passion for learning and getting their hands dirty. Our intern will contribute to Tallie’s growth by helping to manage the company’s social media presence, facilitate conversations in web forums, and maximize effort for getting our name out there! This role offers a unique opportunity to jump into a fast-paced, energetic team and gain experience working with a variety of departments and collaborate on all types of projects.

Who We Are:

Our high-growth SaaS company is looking for a highly motivated Campaign Coordinator to join our team.

Tallie is cloud-based business expense report automation software that streamlines the entire expense management process.

Responsibilities:

  • Manage and grow Tallie’s social media accounts across the web
  • Maintain active social media presence on behalf of Tallie, including scheduling event reminders, sharing industry news, and engaging with our community
  • Ensure all Tallie content is SEO-optimized
  • Share content across a variety of web forums to maximize exposure and drive traffic to promote strong brand awareness

Desired Skills:

  • Positive, enthusiastic disposition
  • Interest and/or experience in finance/accounting a huge plus
  • Highly motivated self starter with an insatiable desire to learn new things
  • Consistent ability to deliver high quality work on time
  • Excellent verbal communication
  • Strong organizational skills and detail-oriented by nature

Think you’re the perfect fit? Email a copy of your resume and cover letter to alicia@tallie.com, and a bit about why you want to join our team.

www.tallie.com

Position Title: Social Media Marketing Intern

Location:  San Francisco (SOMA)

Type: Unpaid Internship

PEX Visa Prepaid Card and Tallie Launch Integrated Expense Management Solution

News Highlights:

  • Joint solution simplifies the funding and processing of business expenses for all levels of employees, while improving spending control, limiting liability and increasing financial visibility for companies.
  • Tallie and PEX Card integration allows a direct, real-time feed of PEX Visa Prepaid Card transaction data into Tallie and ultimately a company’s accounting system.
  • Combined offering takes another step toward vision of fully integrated workflows within a complete cloud-based accounting ecosystem.

SAN FRANCISCO, February 2, 2015 – Tallie, the leading SaaS expense management innovator and PEX Card, the provider of the PEX Visa Prepaid Card service for business, have combined their solutions to allow companies to fund and track corporate expenses by their employees through a convenient, cloud-based expense management system.

“The core value proposition of the PEX Visa Prepaid Card service is that it eases the burden companies place on their employees and accounting departments to cover expense outlays,” said Chris Farrell, CEO of Tallie. “PEX Card allows companies to issue prepaid corporate cards to all employees without the same risks of issuing traditional corporate cards or the accounting labor associated with cash advances. Direct integration with Tallie adds PEX Card to the complete expense management solution.”

 

 

Traditional corporate cards are limited to a small number of employees due to liability risk. Cash advances are challenging to account for and administratively time-consuming (e.g., approvals, reconciliations, cash dispersal, etc.). In all other cases, employees must “float” corporate expenses from their personal cash or credit.

The PEX Card and Tallie integration solves these issues, while delivering greater levels of spending control and financial visibility. PEX Visa Prepaid Cards can be issued to everyone who incurs costs on the behalf of the company, without the risk of misuse common with traditional corporate cards. Administrators can provision funds for cards instantaneously at the time of need (i.e., card balances can be set to zero while unused to limit unauthorized use and minimize company risk and funds can be deployed instantaneously to the person’s card at the point of purchase). Charges are posted immediately to the website for immediate visibility, can then be easily accounted for and matched with receipts and notes, and checked for duplicates in Tallie. The integration allows for a direct, real-time feed of PEX Visa Prepaid Card transaction data into Tallie and ultimately a company’s accounting system.

For example, a construction worker is faced with an unexpected shortage of building materials. He must make an immediate purchase of considerable value to complete his job on time and on spec, but has neither the credit available on a personal card, nor the time to locate an ATM to withdraw cash. The job completion deadline is missed and his employer faces dire business consequences. Equipped with a PEX Visa Prepaid Card, the same worker texts his company’s finance admin who immediately funds his card with money, specifically dedicated to the purchase required.

“Visa business prepaid cards provide a safe and convenient alternative to cash or checks. They also offer lower disbursement costs and increased operational efficiencies, making them a good choice for businesses and employees,” said Cecilia Frew, Head of US Prepaid, Visa Inc. “Combining PEX Visa Prepaid Cards with Tallie’s expense management solution extends the benefits of Visa prepaid cards to a broader market and provides businesses with more control over their money – anywhere, anytime.”

“In the field, we see burgeoning demand for a budget control and reporting solution that combines the benefits of business prepaid cards and automated expense management,” said Toffer Grant, CEO and Founder of PEX Card. “Tallie was the obvious choice given their pedigreed ecosystem of partnerships, track record with cloud-based integrations, and the power and simplicity of their product.”

For more Tallie news, visit our press room, read our Blog, watch our video and follow us on Facebook, LinkedIn, Twitter, Google+ and YouTube. For more, visit the PEX Card News page, read our Blog and follow @pexcard on Twitter.

About Tallie

Tallie is the leading SaaS expense reports innovator and enabler of the complete cloud-based accounting ecosystem.  In close collaboration with users, CPA practitioners, and industry-leading accounting, technology, and financial partners, it has developed an automated expense report solution with comprehensive data capture, intelligent transaction categorization, robust approval controls and seamless software integration.  Tallie was recognized for technology leadership by: CPA Practice Advisor, The Sleeter Group and Inc. Magazine. The company currently serves more than 3,000 business customers with more than 100,000 active paying users. www.tallie.com

About PEX Card

PEX Card is the payment industry’s leading corporate prepaid card service launched to streamline employee expense management. The PEX Card Admin web and mobile app portals include innovative control features for managing employee cards and prefunded deposits that companies can direct to Visa prepaid cards used for day-to-day spending. Businesses that integrate the PEX Card Service into their operations save time, money and improve cash flow visibility. The company is committed to introducing innovative services that better facilitate card-based purchasing commonly made by mobile work forces. PEX Card is partnered with key industry leaders, including The Bancorp Bank, and Visa U.S.A. Inc. PEX Card is privately held and is headquartered in New York City. The PEX Visa Prepaid Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Bancorp Bank; Member FDIC.

About The Bancorp Payment Solutions Group

The Bancorp Payment Solutions Group , a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq:TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.

Contacts

Waggener Edstrom Communications
Marisa Hagerman, 415-547-7017
tallie@waggeneredstrom.com