Tax & Expense Manager

Improve Accuracy, Automate Processes, Resolve Compliance Issues

Masternaut’s Tax & Expense Manager module is specifically designed to benefit both finance departments and individual drivers by enabling driver authentication of business and private mileage. The module also allows board-level visibility of expenses as part of an easy to use solution that automates many processes and provides evidence of regulatory compliance and as all data is stored over the contract term, this means we provide a historical record

The solution utilises GPS vehicle positioning information in conjunction with an in-vehicle business and private mileage switch. This data is backed by a series of configurable business rules and algorithms that provide automatic vehicle journey classification including authorised business mileage, private journeys or travel to and from known business locations. This information is then made available to the driver via a web-application, to verify journey classification as either business or private mileage orjourney to work.

Utilising this tool, plus the accuracy of MapMatched 20-second vehicle updates - the accuracy and recorded accuracy will dramatically improve, the amount of time taken to process expensises will at the same time dramatically fall.

Businesses are provided with the tools to identify potential taxation liability issues and provide proof of business vs private mileage. The employee can benefit from an expenses management tool in cases where fuel cards are not provided, whilst from a corporate perspective, the solution helps mitigate the risk of any negotiated exceptions being withdrawn or backdated taxation being sought. Masternaut’s Tax & Expense Manager is also increasingly utilised to improve the accuracy of expense claims and reduce the volume of private miles driven in company vehicles, or to manage a businesses grey fleet.