Many companies face the challenge of accurately reimbursing employees for business-related travel while adhering to IRS guidelines. The crux of the matter lies in excluding the regular commute distance, a task prone to errors and time-consuming manual calculations. Fyle's Commute Deduction feature aims to be the antidote to these challenges, providing a seamless and automated solution.
Accountants don’t have to spend hours verifying mileage entered by employees or figuring out how many miles to reduce due to commute deduction. Fyle’s mileage tracker, integrated with Google Maps, makes it incredibly easy for accountants to stay on top of mileage reimbursements and for users to enter mileage requests. From recurring mileage, to bulk addition of mileages, adding additional stops, and now, deducting commute - put mileage tracking on auto-pilot.
How does it work?
Step 1: Configuring home and work locations for commute deduction
Once you enable the Commute Deduction feature in the admin settings, employees can add their home and work locations to their profiles. Fyle's system automatically calculates one-way and two-way distances, streamlining the commute deduction process.
Step 2: Applying commute deduction in mileage form
When creating a mileage expense, users can select from various Commute Deduction options, each tailored to different requirements. The platform then automatically calculates the distance based on the selected option, ensuring accuracy and IRS compliance. You can also make this a mandatory field, so users can not submit a mileage expense without deduction.
Step 3: Get visibility for approval as an admin
Administrators gain full visibility into employee activities, making it easy to track whether a commute deduction has been applied. Detailed information, including actual and claimed distances, is readily available for each expense.
Save Hours of Manual Effort
By automating the commute deduction process, you save not just time but also dollars. Employers can rest assured that reimbursements align precisely with business-related mileage, preventing overpayment due to personal commute distances. This not only enhances tax compliance but also contributes to significant cost savings for organizations.
With additional features like automated approval workflows, and AI-based compliance checks, save the hours spent manually verifying each mileage reimbursement. Fyle will automatically check for errors, and duplicates and ensure the relevant managers and stakeholders approve the request on time.
Embrace Efficiency, Embrace Auto-Commute Deduction!
In an era where every minute and every dollar counts, our Auto-Commute Deduction feature is a game-changer for businesses seeking streamlined mileage tracking and expense management. Say goodbye to manual calculations, errors, and compliance headaches. Embrace efficiency, transparency, and cost savings with easy mileage expense management. Learn more about the feature here, and get a demo today!
