To:
Recently it has been seen that our companies travel expenses have increased a lot and with increase in the
The purpose of the Travel Expense Reimbursement and Business Policy (Policy) is to establish the principles, mandatory requirements and guidelines for reimbursing individuals for travel, accommodation, meals and other reasonable expenses incurred on behalf of the FUNORAMA TOYS. Ensure fair and consistent treatment of reimbursement of expenses for staff. To ensure all sales representatives receives the best value for expenses incurred. Provide a framework of accountability that provides assurances that travel and business expenses are valid, reasonable, legitimate, documented, authorized and in compliance with accounting procedures at the firm GENERAL RULES AND PRINCIPLES: Applicability: The Policy applies to all sales representatives engaged in business activity and who intend to receive travel expense reimbursement. The main accountability for ensuring the reasonableness of expense claims rest with the manager who approves the expense reimbursement form. Policy: ECONOMY/BUSINESS CLASS TRAVEL: All air travel must be economy class tickets unless it is an inter-continental flight. Where costs exceed economy rates, employees must provide an explanation and proof of prior approval by their manager Business Class travel is not an allowable expense. In the rare circumstance, that business class travel is required, prior approval must be obtained from manager in charge. Personal Travel Combined with Business Travel When personal travel is combined with business travel, the employee will be reimbursed for only the business portion of the trip at the lowest available fare. Airport Transportation Reimbursement for travel to and from the airport should be the least expensive and most practical means of transportation. Hotels/Motels 1) Reimbursement will be limited to the cost for a single economy room at a reasonable establishment. 2) Penalties incurred for non-cancellation of a guaranteed hotel reservation are the employee’s responsibility and may be reimbursed only in an exceptional circumstance. 3) Receipts must include the detail, separating lodging, meals, phones and other expenses. 4) Internet access, for business use only, is an allowable expense while traveling on behalf of the company. Private Residences Employees may arrange to stay with friends or relatives instead of using hotel or motel accommodation. Business Meals Reimbursement for meal expenses incurred in Canada and the US are subject to the maximum …show more content…
Our company is not obligated to reimburse an employee for personal expenses. (or other costs) that has not been pre-approved or is not in compliance with this policy.
1) All receipts should be kept in the best possible condition.
2) All travel related expenditures should be charged to the corporate Visa Purchasing Card whenever possible. Use of personal funds for work relatedtravel costs should be kept to a minimum. Prior approval is required for all travel.
3) Expenses associated with an employee’s duties should minimize costs and maximize benefits.
4) Reimbursable expenses should support the objectives of the company.
5) Employees must make the most practical and economical arrangements for travel, meals and hospitality.
6) In evaluating travel options, employees should consider total costs including the costs of transportation, accommodation, meals and salaries.
7) Travel should directly meet program needs or needs for training and development.
8) In exceptional circumstances where it is not practical or cost effective for the employee to meet mandatory requirements, the responsible manager, must approve the
Recently it has been seen that our companies travel expenses have increased a lot and with increase in the
The purpose of the Travel Expense Reimbursement and Business Policy (Policy) is to establish the principles, mandatory requirements and guidelines for reimbursing individuals for travel, accommodation, meals and other reasonable expenses incurred on behalf of the FUNORAMA TOYS. Ensure fair and consistent treatment of reimbursement of expenses for staff. To ensure all sales representatives receives the best value for expenses incurred. Provide a framework of accountability that provides assurances that travel and business expenses are valid, reasonable, legitimate, documented, authorized and in compliance with accounting procedures at the firm GENERAL RULES AND PRINCIPLES: Applicability: The Policy applies to all sales representatives engaged in business activity and who intend to receive travel expense reimbursement. The main accountability for ensuring the reasonableness of expense claims rest with the manager who approves the expense reimbursement form. Policy: ECONOMY/BUSINESS CLASS TRAVEL: All air travel must be economy class tickets unless it is an inter-continental flight. Where costs exceed economy rates, employees must provide an explanation and proof of prior approval by their manager Business Class travel is not an allowable expense. In the rare circumstance, that business class travel is required, prior approval must be obtained from manager in charge. Personal Travel Combined with Business Travel When personal travel is combined with business travel, the employee will be reimbursed for only the business portion of the trip at the lowest available fare. Airport Transportation Reimbursement for travel to and from the airport should be the least expensive and most practical means of transportation. Hotels/Motels 1) Reimbursement will be limited to the cost for a single economy room at a reasonable establishment. 2) Penalties incurred for non-cancellation of a guaranteed hotel reservation are the employee’s responsibility and may be reimbursed only in an exceptional circumstance. 3) Receipts must include the detail, separating lodging, meals, phones and other expenses. 4) Internet access, for business use only, is an allowable expense while traveling on behalf of the company. Private Residences Employees may arrange to stay with friends or relatives instead of using hotel or motel accommodation. Business Meals Reimbursement for meal expenses incurred in Canada and the US are subject to the maximum …show more content…
Our company is not obligated to reimburse an employee for personal expenses. (or other costs) that has not been pre-approved or is not in compliance with this policy.
1) All receipts should be kept in the best possible condition.
2) All travel related expenditures should be charged to the corporate Visa Purchasing Card whenever possible. Use of personal funds for work relatedtravel costs should be kept to a minimum. Prior approval is required for all travel.
3) Expenses associated with an employee’s duties should minimize costs and maximize benefits.
4) Reimbursable expenses should support the objectives of the company.
5) Employees must make the most practical and economical arrangements for travel, meals and hospitality.
6) In evaluating travel options, employees should consider total costs including the costs of transportation, accommodation, meals and salaries.
7) Travel should directly meet program needs or needs for training and development.
8) In exceptional circumstances where it is not practical or cost effective for the employee to meet mandatory requirements, the responsible manager, must approve the