TRAVEL AND EXPENSE POLICY

There are different travel and expense policies covered by individuals, organizations, companies, associations, etc. This policy is aimed to supersede every other policy in such organization or company.

For the general policy, they cover the organization’s or company travel expenses for employees, workers, officers, shareholders, etc. who are on an official assignment on behalf of the company under various conditions. In return, the company expects their true sense of judgment in executing official assignments, thereby making the traveler’s representation worth the travel expense. However, there are certain guidelines to be followed to ensure that the funds generated by the company are well accounted for.

The below are the conditions for which expenses are covered:

1.       Shareholders: The company covers the expenses of shareholders like the CEO, President for their attendance at business and Board meetings as well as performing the duties assigned to them. These expenses including traveling are reimbursed by the company.

2.       Members: The company covers the expenses of members of the company for their attendance at business meetings authorized by the stakeholders. This condition for covered expenses has to be in line with the company’s reimbursement policy for its staff or members.

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Travel Expenses

The company may cover transportation expenses such as rail, automobile, air, etc., but the most important is air travel expenses. These expenses for workers, shareholders of a company are however run on an expense management software.

For the air travel, the following are considered;

1.       Bookings are made through the company’s air travel agent. This ensures that travelers on board are taken through a direct route to their proposed destination. There are cases where one-stop flights and connections may be inevitable but may not be considered an issue in time loss. Preference on airline to travel with are negotiable; only that the traveler will be responsible for the cost of travel with a different airline opposed to the companies.

2.       In the airline travel, it has to be economy class. This is in consideration of the air travel.

Other expenses are;

·         Meals: There is a wide variation on the cost of meals among localities. There is a minimum amount to be spent on feeding by a worker per day. However, there could be exceptions when it comes to meals that have to do with business or board meetings.

·         Communication: As a part of the expenses, telecommunications is also important especially for business calls (exceptions to personal calls).

·         Entertainment

·         Travel Advances.

Lastly, a travel expense report is submitted for review to the owner (or CEO) of the company which original receipts of each service provided throughout the trip. Payment for this services will not be authorized unless these receipts are provided.

The CEO also provides reimbursement of the senses throughout the trip, and the report is to be submitted 10 ten working days after the trip. This report is then submitted to the Treasurer for further reviewing. All these above makes the travel and expense policy supersede every other policy within the organization.

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