Sunshine Act Compliance an Easier Way

The sunshine act law is one of the most comprehensive law now in the United States especially for the Physician. In the past, a company may have provided gifts or payments to physicians or teaching hospitals and tracked these contributions using manual reports. As part of a time-consuming process, this business might have dedicated significant resources to its reporting, ensuring that it accounted for every penny.

Certify's Sunshine Act compliance software allows company leaders to effectively manage their expenses. Within short periods of time, business officials can easily submit expenses related to physician spending, ensuring that their firms comply with the Sunshine Act.

Why we need to use Certify in our Sunshine Act Certify is considered an easy to use system in making accountability and transparency are both important in the company. A company can rely on Certify to quickly and efficiently monitor business expenses.

Not only can Sunshine Act compliance software help a business optimize its efficiency, but it may also prove to be cost-effective as well. For example, Meetings Net notes that tracking physician expenses can sometimes be problematic, but companies that are dedicated to completing accurate reports could avoid numerous issues with top-notch software.

Using Certify is crucial for business officials who want to ensure that they can submit error-free reports on time. This system offers on-the-go functionality and other features that make it worthwhile for both big and small firms around the country.

Mobile device users can benefit Paper-based expense reporting processes are often inefficient, particularly for businesses that make productivity a major priority. If a company cannot effectively support its staff members at all times, it puts its workers at risk and may prevent them from providing valuable support to this business for years to come.

How to Maximize your Business Expenses as Small Business Owner

The hardest part about being a new business owner knows what is considered a business expense and what is not. Often, some of the things you'd normally do or buy every day as an entrepreneur are something that could be a tax deduction later. Here are some general expenses tracking tips to keep in mind when you are out and about.

Breakfast, lunch, or dinner for two: Is that person that you are eating with a past, current, or prospective client? If so, then it's very likely that you can write-off your meal as a business expense. Yes, you may be friends but even small things like having lunch is a great way of building and maintaining a client base. That new piece of software: While you may be buying a new piece of software because it's the latest trend, if it can be applied to your business in any way then it may be considered a business expense. Even some mobile phone applications that manage your schedule, invoice others, or plan your trips can be expense.

Books and training: Often, business books tend to get forgotten when it comes to tax write-offs. The reason being is because a lot of entrepreneurs find business books to be enjoyable and don't really look at them as something that's "strictly business." The same goes for training and other seminars. While they may be fun, they are also a part of personal and business development and can be included in your annual expense reports.

Networking events: While networking events are often expenses, a lot of entrepreneurs forget about them. Networking is a valuable part of building your business relationships and it can't be ignored. So just because you attend them on a regular basis doesn't mean that you shouldn't keep track of how much you spend (including food and drinks) at these events.

If you need a better way to keep track of all of these expenses, I suggest that you buy a receipt scanner. It will make your life much easier when it comes to tracking deductions. Basically, it will let you scan your receipts and store them digitally so you don't have to keep them stored in a shoe box.

How to Track your Expenses Exactly

Most small businesses and sole proprietorships find it a challenge to keep accurate records of their regular expenses, as well as the expenses of their employees. The easiest way to do this is to make an expense report template that employees can fill out to record any expense that they pay out. It does not matter if you reconcile and file these reports on a weekly or monthly basis, or whenever you need to. The most important thing is that every bit of expense is on record.

It is not enough to have an expense report template ready, though. This can be easily done, as there are websites that you can download it from. These downloadable templates will usually have all the details that you need for your report. The more important thing is to make the filing of the forms a routine. Your report should necessarily include receipts of what you paid out, mileage documentary for your travels, even logs of phone calls that you made to overseas clients and suppliers. To make sure you don't leave out anything important when you make your expense report template, it is always better to have a checklist in mind. For example, your template should bear the signature of the person filing it. It should also include the dates when the expenses were incurred and paid out, as this would be useful when checking against available receipts. It should also ask for receipts to be attached, if there are any. Finally, it should also ask for accurate client information in relation to whom the expenses were made. You will need this when charging the expense back against the client account.

Mobile capabilities gaining importance in Travel and Expense software

In End-to-End Visibility into T&E Expense Management: Mobile Comes to the Table, a recent report by Aberdeen Group, author Louis Berard, senior analyst for global supply management, presented hard numbers to illustrate just how cost-effective expense management software can be. According to Berard, companies that use end-to-end T&E software to automate the process from start to finish have an average processing cost of $11.28 per expense report, compared to $18.03 at organizations without such a system in place. After some quick math, it becomes clear that the difference can be significant.

"If, for example, a midmarket company processes approximately 1,000 expense reports per month, using an end-to-end solution will … result in an approximate yearly savings of $86,160," Berard wrote. "In addition, an end-to-end solution will allow for greater visibility and automation."

Users of end-to-end systems also are more apt to take advantage of mobile applications for T&E, Berard noted, which he said will gain in importance in coming years. "Invest in mobile apps that will enhance your suite of products. … The projected growth toward apps and mobile devices will double and triple for 2013," he wrote.

Many of Vita Plus' sales reps use Certify's mobile app, mainly for capturing receipts, Messinger said. "Our IT staff automatically installs the app on any product they get -- computers, iPhones, iPads -- so they are fully capable of doing expense reports on their iPad if that's what works best for them," she said. "It gives them the option to do whatever's most convenient."

Looking back on her company's time with Certify, Messinger had a few pieces of advice for companies considering adopting expense management software. "Take the time in advance to get everything set up correctly, and make sure you're well-trained on it to make sure you're prepared to answer questions," she said. "Other than that, just do your research and find out what meets your needs the best."