Expense Report Guidelines
Small companies usually have specific guidelines for reporting travel expenses. Employees must follow these guidelines closely so they do not get their expense reports returned. This can delay reimbursements. Expense report guidelines will usually include a budget or per diem cap on expenditures, reporting procedures, receipt requirements, rules for non-reimbursable expenses and proper authorization channels.
An important aspect of expense report guidelines is learning how to budget your daily expenses, according to Employment-Handbook.org. For example, if you entertain clients or eat an expensive dinner one night, you should dine more cheaply the next day or two to stay within budget. These guidelines are usually written in the employee handbook for easy reference. Ask your supervisor for travel expense guidelines before your first business trip.
You should report each expense under the specific date when the expenditure occurred. Automobile mileage or flight expenses should be reported on the specific days of departure and return. For example, you should record the expense of your departure flight on the day you leave, then write down the price of the return trip when you return. Also, If you drive 100 miles to and from the airport, divide your mileage in half. Next, multiply the company mileage allotment (i.e. 27 cents per mile) by 50 miles and record it under the day of departure. Subsequently, report the other half of both the return flight and drive home on that exact date. Record all expenses in succession on the expense report. It helps to arrange your receipts by day ahead of time, which can save you time. You will need to write in specific dates on the expense report, as these spaces are usually blank. Finally, add the sums of daily expenses vertically, then calculate your totals for each type of expense horizontally. Subtract out any advance payments the company provided from those that are due you. Make sure you double check your calculations before turning in your expense report. (See references 1 and 2 and resource 1)
急速PC28彩票You should keep all of your receipts, including cab fare, each time you spend money on your trip. Generally, you will only be required to include receipts for meals that exceed five dollars. Still, keeping all receipts will better help you accurately report your expenses. Additionally, make sure you attach all required receipts to your expense report. Besides meal receipts over five dollars, attach receipts that exceed $25 for all other expenses.
Some expenses cannot be included on your expense statement. For example, you should never include parking tickets, excessive baggage expenses or payments for family members on your expense statement. If you spend extra days in a particular city for vacation, do not add those expenses to your expense report. For more guidelines on non-reimbursable expenses, check your company manual or talk to human resources. You can also refer to the travel expense guidelines at Employee-Handbook.org.
急速PC28彩票Most companies will require you to turn your expense report in to your supervisor. Make sure you first sign and make a copy of it. It may take a few weeks to get reimbursed for your trip, as accounts payable will usually need to review it.
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