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What you need to know and how to prepare for Enhanced Reporting Requirements (ERR) for Revenue.
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From the 1st of January 2024 irish Business will need to report on employee expenses in advance of payment. Get all the information on this important change to business reporting
What is ERR?
A Revenue Commissioners term, E.R.R stands for Enhanced Reporting Requirements and relates to change coming into effect under the Finance Act of 2022 Section 897C.
Effectively employers will soon be required to report details of any non-taxable benefits on or before the date a payment is made. It applies to both directors and employees.
The change will impact things like:
1. Travel & Subsistence
2. Small Benefit Exemptions
3. Remote Working Allowances
This page is designed to assist you understand the new revenue rules and legislation and what you can do to ensure compliance before year end.
The change is effective from 01.01.2024.
ERR - Travel and Subsistence
A Revenue Commissioners term, E.R.R stands for Enhanced Reporting Requirements and relates to change coming into effect under the Finance Act of 2022 Section 897C. Effectively employers will soon be required to report details of any non-taxable benefits on or before the date a payment is made. It applies to both directors and employees.
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The change will impact things like Travel & Subsistence. You need to understand the new revenue rules and legislation and what you can do to ensure compliance before year end.
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- Vouched travel & subsistence
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Un-vouched travel & subsistence e.g. civil service mileage rates Site-based employees (including “Country money”) Emergency travel
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Eating on site allowances
Err... to Small Benefit Exemptions
A Revenue Commissioners term, E.R.R stands for Enhanced Reporting Requirements and relates to change coming into effect under the Finance Act of 2022 Section 897C. Effectively employers will soon be required to report details of any non-taxable benefits on or before the date a payment is made. It applies to both directors and employees.
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The change will impact things like Small Benefit Exemptions. You need to understand the new revenue rules and legislation and what you can do to ensure compliance before year end.
For example, the new rule impacts benefits provided to employees which come within the ‘small benefit exemption’ regime i.e. currently up to two small benefits each year which do not exceed a combined value of €1,000.
Err... to Remote Working Allowances
A Revenue Commissioners term, E.R.R stands for Enhanced Reporting Requirements and relates to change coming into effect under the Finance Act of 2022 Section 897C. Effectively employers will soon be required to report details of any non-taxable benefits on or before the date a payment is made. It applies to both directors and employees.
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The change will impact things like Remote Working Allowances. You need to understand the new revenue rules and legislation and what you can do to ensure compliance before year end.
For example, If you make any tax-free payment per day to any employee or director for each day worked from home by that person.
Turn ERR into AH!
Enterpryze Expense.
A simple, easy to use, and compliant solution for ERR / Finance Act 2022 Section 897C
Enterpryze Expense
Designed and developed in Ireland and used throughout the world Enterpryze Expense provides a seamless way to capture, approve and report on Employee expenses and mileage.
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Expense and Mileage
Managing employee discretionary expenses and mileage is critical to cost control. The Enterpryze Expense solution is seamlessly integrated into the general ledger to automatically post approved expenses to the relevant codes to provide for detailed analysis.
Capture expenses and mileage via the Enterpryze APP
Set approvers to employees and give the finance team final approval
Monitor expenses by category and cost centre
Capture images, foreign currency and project codes
ERR and Financial Reporting
Once approved all expenses are ready for reporting. Integrate with your accounting solution or generate powerful reports on expenses, mileage and other relevant expenses to remain compliant with Revenue
Assign up to 5 levels of analysis codes per expense
Track expenses by project code
Seamlessly report to revenue
Maintain full history on expenses including receipt images
Enterpryze Mobile App
Enterpryze Expense comes with a complete mobile app that helps you to manage expenses from the road. The app works online or offline to ensure all expenses can be captured when they are incurred
Capture and approve expenses
Take pictures of receipts
Scan receipts with OCR technology
Report on expense status and more
Automatically calculate mileage based on Google Maps