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Control And Monitor Corporate Travel Expenses Electronically

Managing business travel costs can be challenging, especially if employees are not able to provide accurate accounts of their travel each month.

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Win With GPS Log Book

This month, GPS Log Book – a brand by MiX Telematics – is giving away a GPS Log Book to that aspiring business man/woman who wants to get ahead of their travel expenses. To enter all you have to do is email the answer to the below question to editorial@entrepreneurmag.co.za, to stand a chance of winning a GPS Log book device.

Question: How much on average can a driver, with a travel allowance, claim back from SARS?

If SARS deems a log book inaccurate in any way, the travel allowance tax claim can be rejected, leaving yourself or your employees, with a potential tax liability. The solution? The electronic GPS Log Book device.

GPS Log Book demonstrates the power of electronic logbook management and the importance of ensuring a SARS compliant logbook. Simple, stylish and highly affordable, the GPS Log Book is a user-friendly device that makes managing business travel that much easier.

Key stats about travel related expenses

Global business travel is on the rise and with it, travel spending and related expenses. Research shows that growth will remain strong through 2019, with business travel projected to grow 6,9% in 2016, 6,0% in 2017, 6,4% in 2018 and 5,8% in 2019.

Related: Transport and Logistics Business Cheat Sheet

Optimising business travel costs

If we consider this increase then there is no doubt that business travel and expense management is, and will, become an even more important issue for businesses across South Africa. Therefore, it’s important for companies to find an easy, accurate and effective way to monitor and control business travel expenses.

Many organisations still use traditional methods of completing travel logbooks or reporting expenses. This approach may have worked in the past, but in today’s competitive business environment, organisations need to ensure that their selected approach does not hamper operations and profitability – rather that it improves these aspects and provides return on investment.

Such technology can have great benefits for your staff too. Employees that take a proactive approach to managing their travel claim expenses – through a GPS Log Book – and submitting these with their tax returns, can receive up to R17 000* back over the year. 

Related: How To Start A Passenger Transport Business

The role of technology in travel related aspects

If we consider that substantial developments in technology have changed the needs of businesses all over the world, then there is no longer a reason for businessmen and women to worry about managing their business travels effectively. There is an app, a product or a solution for almost any business challenge today and this is no different when it comes to travel logs.

Through the use of GPS Log Book, this can be done electronically.

It ensures an accurate business report that reimburses travel expenses and provides employees with the opportunity to receive a travel related tax return.

The importance of a SARS compliant tax return

As an example, if your car is valued between R80 001 and R160 000 and you travel approximately 20 000 km per annum, of which 50% is business related, the estimated claim amount from SARS should be approximately R25 095.

While you can calculate an approximate claim amount by using the calculator provided on selected electronic logbook websites, if you have not kept an accurate logbook – the benefits cannot be obtained.

With the advent of GPS Log Book, you can plug the device into your car’s lighter socket, ensuring that each trip is logged electronically. 

Related: Types Of Transport Business Opportunities

Benefits of a GPS Log Book

The ROI from such devices is tangible, with benefits including:

  • Categorising your trips based on business and private travel
  • Logbooks are accurate, comprehensive and easy to use
  • Trip data can be stored in the cloud for up to 5 years – ensuring data is secure at all times
  • When submitting a tax claim, the minimum information required includes the date for each trip, where the trip started and ended, how many kilometres were travelled per trip and the reason for travel – business or private – all managed electronically
  • With the touch of a button, you can create a fully SARS compliant report.

Today, it is simpler than ever for businesses to effectively control and monitor travel expenses, reduce administration and cut travel expenses – as well as for businesses to eliminate travel expense abuse – all through the use of an electronic logbook.

* This is based on the following R17k rebate criteria:

  • Sample of 432 vehicles in 2015/2016 tax year
  • Total average kilometres driven in tax year: 24 800
  • Percentage that were business trips: 35%
  • Average value of vehicle: R80 000.

GPS Log Book, a brand by Mix Telematics, was designed with one thought in mind – to eliminate the tedious process of manually completing your trip logbook. GPS Log Book is a small, stylish and clever device, that does it all for you. Since 2011, any person who receives a travel allowance is required to present a logbook to the South African Revenue Service (SARS) before any travel tax claim can be processed. In most cases, at the end of the week or even the month, you have to backtrack, look at your meeting calendar and try to figure out where you’ve been so that you can accurately record your travel logs. This is where GPS Log Book can make your life hassle-free.

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Set Up Your SME For Success With Fibre

Boost your business potential when you plug into fibre. It offers unprecedented benefits, taking your business to the next level of connectivity.

Ignite

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More South Africans are turning to fibre for fast Internet access. We’re witnessing a boom in fibre expansion and as a result, it’s becoming a more affordable option for SMEs. Once businesses connect to fibre, they can access a reliable, ultra high-speed connection that unlocks the full advantage of cloud-based processing.

Cater to usage demands

A slow Internet connection can derail your business. It’s imperative for business owners to prepare their networks to handle additional usage requirements. Failing to do this might lead to interruptions, slowdowns and a potential impact on your bottom line. An Internet connection should be a tool that supports innovation and uninterrupted productivity.

Shift to the cloud

More businesses are accessing cloud-hosted information via Software-as-a-Service (SaaS) tools and other platforms. In 2018, nine out of 10 companies in South Africa said they had increased spending on cloud computing, according to a report by World Wide Worx and F5 Networks. Running your day-to-day business on the cloud requires you to have a more powerful Internet connection.

Support video and VoIP

Some businesses make use of video capabilities for training and meetings, and VoIP for sales and marketing. On a fibre line, businesses can ensure they meet these demands without putting a strain on the network. With fibre, business owners can run voice and Internet data on the same line but may look at installing a second data connection for redundancy.

Get what you pay for

There’s no denying it, fibre provides exceptional speeds and offers a brilliant price-to-performance ratio. You won’t receive the same contention ratio as other connection mediums – you will get what you pay for. Bandwidth caps are less of an issue with fibre because there’s a choice of affordable uncapped deals on offer.

Make the right choice

  • Before you decide on your fibre deal, ask the right questions, understand exactly what you’re paying for and match your business requirements with the right amount of bandwidth.
  • Choose a provider that allows you to manage growth for the long term – one that allows you to choose your deal, scale when necessary and not throttle your fibre line.
  • You’ll also want an ISP to have your back further down the line. Insist on obtaining a comprehensive list of services along with the monthly fee. Ensure you are provided with a full service including all necessary support and equipment to deliver optimal fibre performance.

Ignite’s drive and purpose is to be the spark that inspires SMEs, which is why the Ignite Fibre service is structured to put you in control. Ignite offers you tailored packages that take into account your daily Internet and business startup needs.

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Designing Her Destiny

Oh Yay! owner, Emmerentia van den Hoven does business her way.

QuickBooks SA

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In 2011, Emmerentia van den Hoven took a leap of faith when she decided to leave her graphic design job at an agency and pursue her real passion – and it has paid off tenfold. Here’s her story.

“When I started planning my own wedding eight years ago, I fell in love with wedding design and wanted to do that for the rest of my life. Designing for brands had become a set of rules rather than being creative, and I’d always wanted to work for myself. So, in September 2011, I turned my seven-month-old side gig into a fully-fledged business and launched Oh Yay!

I have to hustle every month to get new clients because every client will use my services maximum twice – first for the wedding invitations and then for the stationery on the day – so I don’t normally have returning clients.

Because my main business is seasonal and usually once-off per customer, I have branched out into branding for small businesses in the beauty and lifestyle industry. I also earn a passive income through the Oh Yay! online shop where I sell wedding décor items.  Oh Yay Kids – my other online store – is my passion project. I launched it just before my second child was born, adding items to the store that I made for my two boys when I saw a need for it. I then expanded into prints for nurseries and kids’ party stationery.

I work for myself and have no employees, so the fact that QuickBooks lets me load all my services, products and prices in one place makes running my business so much easier. Being an entrepreneur is difficult because you don’t know if you’ll be successful or not. But if you believe in and love what you’re doing, it reflects in your work and the service you give.”

Less admin, more of what you love

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When Oh Yay! was launched, along with her dream of being an entrepreneur, came the nightmare of other administrative tasks. But that changed in 2018 when Emmerentia started using QuickBooks.

“When I was using spreadsheets to balance my books, I was spending 80% of my time on admin, which left very little time to tend to customers’ orders. I now spend no more than 25% of my time on admin, which is important, especially when it comes to the speed at which I send quotes. You don’t get any work if you don’t send out quotes and it’s tough to juggle the admin with your actual job of running the business.

Numbers were never really my strong point, so having a professional quote done in record time not only projects professionalism, but the format also changes the way new clients see me. In my industry, the quicker you can send a quote out, the likelier you’ll get the clients’ business. It gives legitimacy to my business. The QuickBooks system operates so seamlessly that clients communicate with me differently, like I have my own accounting department, when in fact, I’m a one-woman-show.

I used to dread doing admin, but now it’s so easy and quick. I’m not just saying this – QuickBooks changed my life.”

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The Future Of Fleet Management Is Now

TomTom Telematics

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Power up your fleet management and make even smarter business decisions with the new WEBFLEET. WEBFLEET is the award-winning Software-as-a-Service fleet management solution from TomTom Telematics, designed to provide you with the data needed to help your field operations become more efficient, more productive, safer and more profitable.

An improved interface and enhanced features mean WEBFLEET is now more powerful than ever before, and can be accessed anytime, anywhere on any screen. Find everything you need to help save on fuel, maintenance and administration costs, while delivering the quality service your customers demand.

It has already delivered proven results for customers across the globe and is powered by continuous innovation, meaning it is ready to grow with you and your organisation as goals and challenges change. Discover the future of fleet management now and help give your business an edge on the competition. Request a demo and find out more at telematics.tomtom.com/webfleet/landingpages/launching-the-new-webfleet.

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