Pay your employees quickly for out of pocket expenses
Automatic claims with smart coding and receipts matched.
Instant issue, flexible and with spend control
Digital trip receipts and travel reconciliation
Hyper automated AP processing with OCR & AI and backed by fraud control
Be proactive with spend management and create PO's before the spend happens
Digital transformation of AP processing
Transform your accounts payable with control and confidence
Tax management is made simple with ProSpend. Our tax wizard is designed for Australian FBT and GST as well as used globally with configurable tax options.
Businesses risk paying more fringe benefits tax (FBT) than necessary if they are unable to track and record their meal and entertainment spend accurately. ProSpend’s powerful FBT module gives businesses the ability to manage this part of their FBT liability using either the 50/50 or Actual method as prescribed by the ATO.
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Users are presented with customisable fields to enter the number of recipients and the FBT wizard does the calculation automatically.
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Recipients are automatically presented to your employees from your user database with customisable entry fields.
Users can set up their own 'groups' to launch an automatic list of recipients/guests for the FBT allocation
Any number of groups can be saved
✅ Default rates - Tax rates can be configured for different country or locations
✅ No tax - Any expense can be configured for No Tax, like mileage and the user is unable to edit
✅ Multiple tax rates - Employees can edit entire tax amounts or apply different rates for different items in an expense
✅ Export tax rates - For accounting systems that use tax codes, ProSpend is configured accordingly so the correct tax is exported
✅ Exception handling -Automatically removes the GST for lost receipts based on a set of rules
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Our on-demand and real time FBT reporting analyses FBT data from within expense manager and simplifies the return process.
The FBT Report can be run at any point in time across a number of criteria including a date range, status, category, cost centre, expense type (only FBT related expense types are available) and by claimant.
A gross up factor and tax rate is defaulted to the report. If a company is eligible to claim a minor benefit exception amount this can also be entered in the report criteria and excluded from the report.
Detailed recipient information is available to support an organisation's FBT return and a comparison that shows the amount of FBT payable if an organisation lodges an Actual or 50/50 return.
Easily manage your expenses, invoices, purchase orders and cards all in one unified platform
FBT is a tax employers pay on certain benefits they provide to their employees, their families, or associates in place of wages or salaries. These benefits can include things like company cars, meal allowances, or entertainment expenses. The tax is separate from income tax and calculated on the taxable value of the fringe benefits provided.
The 50/50 method is a simplified way of calculating FBT for entertainment expenses, such as meals, drinks, or staff functions. Under this method, 50% of all entertainment expenses are deemed taxable and subject to FBT, while the other 50% is considered non-taxable.
This approach eliminates the need to distinguish between employees, their associates, or clients when calculating FBT liability. However, businesses must still maintain accurate records of all entertainment expenses to apply the method correctly and demonstrate compliance.
The actual method for tracking FBT involves calculating the exact taxable value of fringe benefits based on detailed records of their use. For entertainment expenses, this means identifying and recording who benefited (e.g., employees, associates, or clients) and apportioning the costs accordingly. Only the portion of the expense provided to employees and their associates is subject to FBT.
This method offers greater accuracy and may result in a lower FBT liability than the simplified 50/50 method. However, it requires meticulous record-keeping, including participant details, dates, and the nature of the expenses.