Financial Employee Expense Reimbursement Policy

This policy was developed for the sole purpose of managing the procedures for booking travel, acceptable modes of transportation, and the reimbursement process for incurred expenses during trips. This policy is effective from January 1, 2050.

Policy Statement

This policy serves as the outline for the rules and regulations that should be adhered to by all employees. It covers the procedures and guidelines necessary for two major tasks - booking travel arrangements and claiming reimbursements. These tasks specifically relate to those business trips that the employees are required to participate in for the company.

Procedure for Booking Travel

It is mandatory that all employees who have plans of travelling for business related to our company must utilize the designated travel management system that our company has authorized for arranging all their travel requirements. If there is any deviation from this specifically outlined policy, the employee will not be eligible to receive any reimbursements for the costs incurred during their travel.

Acceptable Modes of Transportation

Employees have the freedom to choose from a variety of transport options including air travel, using rental cars, opting for public transport, or employing their personal cars in regard to business travel. However, it should be noted that if you choose to utilize your personal vehicle, the company will only reimburse the expenses via the standard mileage rate.

Reimbursement Process for Incurred Expenses

When an employee travels for business purposes, all legitimate expenses they incur during their journey are eligible for reimbursement by the company. For an expense to be acknowledged for reimbursement, the employee must provide receipts for each expenditure. The submission should also include a fully completed Expense Claim Form. The procedure must occur within a maximum duration of 30 days following the date of the expense. However, it is important to note that without proof of receipts, any expenses reported cannot and will not be eligible for reimbursement.

Compliance

In the event that adherence to the Travel and Expense Policy is not exhibited by an individual, such non-compliance could potentially set in motion the commencement of disciplinary measures targeted at them. In addition, it could also culminate in the refusal to grant any claims put forward by the individual with regards to reimbursements.