How the Strandum Expense Module Simplifies ROS Expense Management and Compliance

In Ireland, meeting ROS submission obligations can be challenging for businesses. Section 897C of the Finance Act 2022 requires compliance. The Strandum Expense Module simplifies ROS Submission by automating expense reporting. This includes small benefit exemptions, remote working allowances, and travel expenses. Businesses must keep records accurate and ready for submission via Revenue Online Service (ROS). This includes small benefit exemptions and remote working daily allowances.

The Strandum Expense Management Module helps your organisation stay on top of these requirements. by providing automated ROS-compliant file generation. This not only simplifies compliance but also enhances your overall expense management process.

Understanding Section 897C: Key ROS Reporting Requirements in the Finance Act 2022

The Finance Act 2022 introduced new Enhanced Reporting Requirements (ERR), specifically Section 897C, which mandates employers to report specific details of certain expenses and benefits made to employees or directors. These include:

• Small benefit exemptions
• Remote working daily allowances
• Travel and subsistence expenses

From 1 January 2024, businesses must submit detailed reports of these payments using ROS, ensuring that each submission is made on, or before, the payment date.

How the Strandum Expense Management Module Helps You Stay Compliant

Strandum’s Expense Management Module offers a streamlined, automated solution. It helps your business stay compliant with the Finance Act 2022—without the headache of manual data entry and complex tax rules.

How the Strandum Module Eases ROS Submissions

1. Automated ROS File Generation The Strandum Expense Module captures all necessary expense details, including dates, amounts, and categories. It then compiles this data into a ROS-compliant file. You can effortlessly upload this file to Revenue Online Service, eliminating the need for manual preparation
2. Comprehensive Expense Categorisation Whether it’s small benefit exemptions, remote working allowances, or travel and subsistence expenses, the module categorises each expense in compliance with ROS reporting rules. This ensures that no required information is missed.
3. Real-Time Tracking and Reporting Managers and HR teams gain full visibility of reported expenses, including a real-time audit trail. This allows for quick reference and ensures compliance with both internal policies and tax regulations.
4. Flexible Payroll Integration The module offers flexible payroll integration, ensuring that expenses are properly tracked and reported in line with payroll cycles. This seamless integration further enhances the accuracy of your reporting.

Benefits of Using Strandum for ERR Compliance

By integrating ROS-compliant functionality into your expense management process, Strandum delivers several key benefits:

• Time Efficiency: No more manual data entry or last-minute scrambling to meet ROS reporting deadlines. Strandum automates the entire process, allowing your team to focus on more strategic tasks.
• Reduced Errors: Human errors in tax submissions can lead to penalties or compliance issues. Strandum’s automated approach minimises the risk of mistakes, ensuring accurate submissions every time.
• Enhanced Financial Transparency: With real-time visibility into expenses and robust reporting features, Strandum empowers businesses to maintain full transparency and control over company expenditures.

How to Get Started with Strandum Expense Management

Implementing the Strandum Expense Management Module is straightforward. Our user-friendly platform allows for easy integration with your existing systems, and our team is ready to support you throughout the process. With Strandum, staying compliant with the Finance Act 2022 and ROS submission requirements is easier than ever.

Contact us today to learn more about how our solution can help streamline your expense management and ensure your business is always tax-compliant.