{"id":782,"date":"2018-04-16T19:29:42","date_gmt":"2018-04-16T19:29:42","guid":{"rendered":"https:\/\/mlinqs.net\/?p=782"},"modified":"2019-12-09T20:40:18","modified_gmt":"2019-12-09T20:40:18","slug":"relocation-mistakes","status":"publish","type":"post","link":"https:\/\/mlinqs.net\/relocation-mistakes\/","title":{"rendered":"Common Mistakes in Government Relocation Accounting"},"content":{"rendered":"
[et_pb_section bb_built=”1″][et_pb_row][et_pb_column type=”4_4″][et_pb_text admin_label=”Intro” _builder_version=”3.0.106″ background_layout=”light”]<\/p>\n
Falling into one of these errors can make the relocation process more complicated and time consuming than it needs to be, but fortunately, there are ways to avoid them. Knowledge is the most powerful tool in getting everything right the first time, so read on to learn more.<\/span><\/p>\n [\/et_pb_text][et_pb_text admin_label=”Common Government Relocation Accounting Mistakes” _builder_version=”3.0.106″ background_layout=”light”]<\/p>\n Some of the most common relocation mistakes with regards to accounting are explained below.<\/p>\n Agencies that:<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row][et_pb_column type=”1_2″][et_pb_blurb admin_label=”Accounting for 3rd Party Payments” _builder_version=”3.0.106″ title=”Accounting for 3rd Party Payments” url_new_window=”off” use_icon=”off” use_circle=”off” use_circle_border=”off” icon_placement=”top” use_icon_font_size=”off” background_layout=”light”]<\/p>\n When processing relocation costs, it is important to treat 3rd party payments as taxable income to the transferee. Your company must be in compliance with all government rules for government agencies and contractors. This includes the\u00a0<\/span>Federal Travel Regulations (FTR), Joint Travel Regulations (JTR), Federal Acquisition Regulations (FAR), and other relocation regulations, including IRS tax regulations.<\/p>\n [\/et_pb_blurb][et_pb_blurb admin_label=”Punctual Payments” _builder_version=”3.0.106″ title=”Punctual Payments” url_new_window=”off” use_icon=”off” use_circle=”off” use_circle_border=”off” icon_placement=”top” use_icon_font_size=”off” background_layout=”light”]<\/p>\n Don’t let hurdles in the accounting process get in the way of making payments on time. Even though the process is often confusing and tedious, it is important that agencies pay their transferees promptly. This increases employee satisfaction and efficiency during and after the move. Punctual payment of transferees also allows them to charge expenses to a government charge card.<\/p>\n [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″][et_pb_blurb admin_label=”Reporting Expenditures to OMB” _builder_version=”3.0.106″ url_new_window=”off” use_icon=”off” use_circle=”off” use_circle_border=”off” icon_placement=”top” use_icon_font_size=”off” background_layout=”light” title=”Reporting Expenditures to OMB”]<\/p>\n Federal agencies must report their relocation expenditures accurately to the Office of Management and Budget. Be sure that all expenses and costs are properly documented and filed with the federal government in order to meet legal requirements.<\/span><\/p>\n [\/et_pb_blurb][et_pb_blurb admin_label=”Tracking Vendor Data” _builder_version=”3.0.106″ url_new_window=”off” use_icon=”off” use_circle=”off” use_circle_border=”off” icon_placement=”top” use_icon_font_size=”off” background_layout=”light” title=”Tracking Vendor Data”]<\/p>\n Tracking vendor data is required by law. I<\/span>n order to fully comply with the\u00a0Data Act<\/a>,\u00a0Federal agencies need a secure system that comprehensively quantifies relocation spending by vendor. This\u00a0data is instrumental for the government in vendor negotiation.<\/p>\n [\/et_pb_blurb][et_pb_blurb admin_label=”Data Storage” _builder_version=”3.0.106″ title=”Data Storage” url_new_window=”off” use_icon=”off” use_circle=”off” use_circle_border=”off” icon_placement=”top” use_icon_font_size=”off” background_layout=”light”]<\/p>\n Government agencies need complete control of relocation data for analysis, business process improvement, and transparency of spend. To accommodate this, data needs to be stored in secure systems that have passed government security audits. Using only approved systems ensures policy compliance and helps to chronicle existing relocation practices so business process improvement may occur.<\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][et_pb_row][et_pb_column type=”4_4″][et_pb_text admin_label=”Welcome to Government Relocation Accounting” _builder_version=”3.0.106″ background_layout=”light”]<\/p>\n Do these problems seem confusing or difficult to resolve? <\/span><\/p>\n mLINQS<\/a> can help your company avoid making accounting and relocation mistakes with our innovative technology. mLINQS is the first and only fully compliant, Web-based government relocation expense management system<\/a>. We use a cloud-based permanent change of station (PCS) solution which fully automates the expense management and policy compliance processes. <\/span><\/p>\n Now, relocation cost management does not have to be expensive or complicated, and your team can focus on the work you do best.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"Common Government Relocation Accounting Mistakes<\/h2>\n
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Welcome to Government Relocation Accounting<\/span><\/h2>\n