Business travel can be an expensive affair, so it’s important to understand how to properly and accurately expense your business travel. When traveling for business, it’s important to keep records of all your expenses, including transportation, accommodations, meals, and other expenses related to the trip. The key is to make sure all expenses are accounted for and properly documented.
Transportation: Reimbursement for transportation is typically limited to the cost of a standard airline ticket or an economy car rental. If you find that you must use more expensive options due to extenuating circumstances, be sure to keep all receipts and explain why you needed the more costly option. Depending on your company’s policies, you may be able to receive reimbursement for taxis or other public transportation fares.
Accommodations: Business travelers should generally stay in accommodations that are within their budget and don’t exceed their employer’s guidelines. Employees should seek out the best rate available when booking accommodations and should keep all hotel receipts. Some companies may even provide a per diem rate for lodging expenses.
Meals: Meals are generally reimbursable as long as they were necessary for conducting business during the trip. Be sure to keep detailed records of all meal-related receipts in order to receive reimbursement. Generally speaking, employers will reimburse up to a certain amount per meal.
Other Expenses: Other miscellaneous expenses related to the business trip may also be eligible for reimbursement depending on your employer’s policy. This can include items such as dry cleaning services or parking fees while traveling. All receipts should be kept in order to receive proper reimbursement.
In order to ensure that you receive proper reimbursement for your business travel expenses, it’s important that you keep detailed records of all costs associated with the trip and document any extenuating circumstances that necessitated more costly options. Your employer may also have specific guidelines regarding what type of expenses are eligible for reimbursement so be sure to familiarize yourself with these policies before embarking on your business trip.
Conclusion: Knowing how do you expense business travel is essential if you want accurate reimbursements from your employer. Make sure that you keep track of all transportation costs including airline tickets and car rentals, accommodations within budget guidelines, meal receipts up until a certain amount per day and any other miscellaneous expenses such as dry cleaning services or parking fees while travelling.