Travel expense reports, expenses and the associated flat rates are complex but essential for budget planning. Should Company respect, think highly of.

Travel expense report: expenses & flat rates for budget planning [+2 sample checklists]

Expenses and travel expense reports: companies should pay attention to this

Accurate accounting for all incidents Costs can take a long time for a company Money and save resources. In addition, it provides useful information for future budget planning and the possible reduction of expenditure. The regular Control of all expenses is therefore an essential part of successful corporate management.

Companies should pay particular attention to the different types of expenses that can arise. For example, travel costs are particularly important due to their size. For example, flat-rate expenses and additional subsistence expenses are two types of travel expenses that are special when recording the total costs Attention require. It is therefore important that all travel expenses are settled in a timely and correct manner.

Incidentally, the most common type of expense allowance for travel is a lump sum, ie a lump sum that covers all costs incurred. Depending on the duration of the trip and the location, additional meal costs may also apply. To ensure accurate billing and reimbursement, businesses and Employees the Regulate and regulations relating to these allowances.

Sample checklist: Establish precise rules

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To ensure that all processes are strictly observed and that there is no dissatisfaction among employees about unequal treatment, you should define the rules for the reimbursement of expenses and travel expenses. For example, food expenses are typically one of the most expensive expenses incurred on business appointments and it is important to record them in detail to ensure accurate reimbursement. In addition, it is important to know the maximum meal allowances and the periods for which they apply in order to ensure compliance with all guidelines and legal requirements. You should set binding rules for this, which could look like this:

  1. If the absence exceeds XNUMX hours, additional meal allowances may be considered for reimbursement.
  2. If the traveler incurs additional meal costs due to special dietary needs, such as celiac disease or food allergies, these costs will be reimbursed separately.
  3. Additional expenses for meals can be taken into account for special occasions such as holidays, conferences and business meetings.
  4. All expenses must be supported by a valid receipt to be eligible for a refund.
  5. All expense reports including all receipts and receipts must be submitted within one month on time.

Make sure regulations comply with the law

As the person responsible for the travel expense report, you ensure that all expenses comply with the guidelines and the requirements of the law. This applies both to flat-rate expenses and to individually billed costs. All employees must keep detailed records of their expenses, including receipts and proper documentation of business purpose. It is important that you review all expenses for accuracy and compliance, paying particular attention to expenses for meals that exceed the flat rate. So imagine for surethat the billing is compliant with the law.

For example, employees can also state additional expenses for meals as additional income-related expenses in their tax returns. However, these can only be claimed if the meal is necessary due to the duration of the trip, the number of meals provided by the employer or the location of the trip. The amount claimed must also be reasonable and not exceed the published meal plan for the destination. However, no additional meal costs can be claimed for tax purposes for meals that have already been reimbursed to the employee through the lump-sum payment.

Keep accurate records of all expenses and use appropriate software

It is important to keep accurate records of all travel-related expenses. If you're managing flat-rate expenses, it's especially important to document these transactions. By accurately recording all expenses, you can ensure that no item is overlooked or misattributed, resulting in more accurate travel expense reporting.

The automated recording and reporting of expenses using suitable software is therefore useful for the administration of expenses such as travel expenses. With this software you can record expenses and comprehensive reports draw up, with which disagreements light let it be determined. It also provides key metrics and analytics to help you better understand and manage your travel spend. You get a very precise picture of all expenses and can Future besser to plan.

Checklist: 4 common mistakes to avoid when reporting expenses and travel expenses

By using expense reports correctly, companies can not only keep track of all expenses, but also save a lot of money. Despite these obvious benefits of completing expense reports correctly, many businesses still make costly mistakes. The most common mistakes are:

  1. Incorrect Expense Report Completion: The most costly mistake employees and contractors can make when completing expense reports is failing to enter the correct information.
  2. Don't use receipts: Without a receipt, most companies are unable to reconcile a reported expense with an employee's expense report, creating a gap in the reimbursement.
  3. Failure to enclose receipts: Expense reports without receipts can mislead employers, leading to expensive, uncontrollable overspending.
  4. Failure to categorize expenses: Just because an expense appears small doesn't mean it should be submitted as a compound item. Employers must have the ability to carefully consider each expense.

Conclusion: Accuracy in travel expense accounting pays off for companies

Expense reports are a great way to document business travel expenses. When filling out an expense report, however, it is not enough to request receipts, these should also be checked, if only to avoid mistakes. It goes without saying that expense reports are one of the most common ways to cheat.

For example, companies should compare itineraries with receipts to ensure that the receipts match what the employees say. In addition, companies should take care to avoid double payments when paying employees for travel expenses. The enclosed Vorlage can be used as a guide for filling out expense reports.

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