TRAVEL EXPENSE FORM
travel expense form,study abroad,travel expense log
When
you decided to travel especially to a foreign country, some expenses are involved with such trip. It ranges from air
travel expenses to miscellaneous expenses throughout the trip. However, many individuals don’t consider
making reports of this travel expenses while companies do.
Most
individuals wouldn’t consider it a big deal since there is little or no need
for accountability in expenses. For instance, someone who is traveling from one country to another will only
have to budget on his mind how much he or she is likely going to spend
throughout the entire trip and will not keep details of how money was spent.
For
a company who has sent its representative to another country on a business
assignment or for its shareholders having an expense on traveling down for meetings, a detailed report must be submitted to the CEO of such company. This
CEO goes through them and makes sure every money spent throughout was accounted
for and was at the maximum rate required before being submitted to the
Treasurer for further reviewing.
However,
these companies also offer travel expense reimbursement in certain scenarios, and they are also accounted for. If there is a service a worker makes use
of which isn’t in the budget of the company, he or she would have to be
responsible for such.
travel expense form,study abroad,travel expense log
These
travel expense forms consist of details
such as;
1. 1_Dates, Hours and Time
Spent at each location during the trip
This
form simply acts as a travel expense log
that monitors day to day activities and how funds were spent throughout the trip.
There
are cases where a worker from a company doesn’t necessarily have to go on
business meetings before travel expense forms are collected/issued. A company
may decide to fund its workers’ academic
pursuit in order to gain more knowledge
about a particular field to be incorporated
in the business. Simply, they offer study
abroad programs for workers and cover their expenses throughout their academic
stay. All records of money spent and places visited or projects carried out are
documented into this travel expense log and after the program, it is submitted to the company for review.
Importance of a travel expense form
1. 1_It helps the company
monitor its expenses and income generated.
2. 2_ The income generated
from the company is weighed against the
expenses in funding a worker and the outcome thereof.
3. 3_ It helps in keeping
proper documentation of expenses throughout the year and adjust where necessary.
Conclusion
In
conclusion, for a business to thrive well especially when there is an economic downturn, it is important to keep records of activities that
goes on both home and abroad in the organization. In addition to the form
submitted back to the company, receipts for payment of products bought or
services used is presented, without which is unacceptable by the company and
extra payment for services the worker
makes use of in the company’s name will not be reimbursed.
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HOW TO PREPARE FOR INTERNATIONAL TRAVELS
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travel expense form,study abroad,travel expense log
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