When employees are paying for company related expense from their personal cash/card or if they have been entrusted with a corporate credit card, they need to go through a process to get reimbursed for the expense incurred. The reimbursement policy governs this process to ensure that the correct types of expenses are claimed and that the company and/or employee are not out of pocket as a result.
Ideally, companies would use a software and/or mobile applications such as Bayzat Benefits to track and make reimbursements. This is because the manual method would be to collect all receipts and invoices, fill in a reimbursement form which is usually a word document/excel template and then submit to their line managers to review and approve. This would then be passed onto the Accounting department to check the amounts and receipts prior to reimbursement. This process can be streamlined with the help of expense reporting software.
When employees are paying for company related expense from their personal cash/card or if they have been entrusted with a corporate credit card, they need to go through a process to get reimbursed for the expense incurred. The reimbursement policy governs this process to ensure that the correct types of expenses are claimed and that the company and/or employee are not out of pocket as a result.
Ideally, companies would use a software and/or mobile applications such as Bayzat Benefits to track and make reimbursements. This is because the manual method would be to collect all receipts and invoices, fill in a reimbursement form which is usually a word document/excel template and then submit to their line managers to review and approve. This would then be passed onto the Accounting department to check the amounts and receipts prior to reimbursement. This process can be streamlined with the help of expense reporting software.