Are you paying too much FBT?

Businesses risk paying more fringe benefits tax (FBT) than necessary if they are unable to track and record their meal and entertainment spend accurately. expensemanager’s 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.

50/50 Method

The easiest method. FBT is calculated on 50% of the total taxable value of fringe benefits incurred by providing meals, food and drink to employees and clients.

Staff allocate the number of recipients to a linked FBT expense type

No calculation or confusion for your staff, expensemanager allocates the appropriate amount to the FBT assigned ledger code.

Actual Method

The precise method. FBT is tracked and calculated based on actual expenditure by identifying the recipients at the meals and entertainment provided

Staff are able to search the list of employees and allocate quickly and accurately

And to make it even easier, they can set up 'Groups' for recurring events.

FBT Reporting

  • Real-time savings- Powerful reporting to compare the 50/50 or Actual method and savings that can be achieved.
  • Detailed reporting- Detailed Recipient information with the FBT calculation for each
  • Not just entertainment- Powerful configuration options to track multiple FBT linked expenses, such as Gifts, Sustenance, etc
  • Group legal entities- Group your legal entities to get a 'whole of business' FBT view without having to manipulate reports in Excel.

Tax Management

expensemanager can be used globally with configurable tax options. For our Australian users, it is fully configurable for Australian tax rules and regulations.

  • Default rates- Tax rates can be configured as a default rates for different countries and/or locations
  • No tax default- Any expense can be configured for No Tax, like Mileage and the user is not able to edit.
  • Flexible-Users can edit entire tax amount or apply different rates for different items in an expense
  • Export tax rates- For accounting systems that use tax codes, this is enabled during configuration and the correct tax is imported directly

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