Reimbursable expenses are costs that an employer agrees to pay back to an employee for business-related purchases. These expenses can include travel, meals, and other items that are necessary for the employee to perform their job duties. Reimbursable expenses must be documented and tracked in order to ensure that the employee is reimbursed for all of their eligible expenses.
Tracking reimbursable expenses is important for both employers and employees. For employers, tracking these expenses helps them stay organized and ensures that they are not overspending on reimbursements. For employees, tracking reimbursable expenses allows them to keep track of their spending and make sure they are being properly compensated for their work-related purchases.
There are several ways to track reimbursable expenses. Employers can use time tracking software or a spreadsheet to document and track employee expenses. This will allow employers to easily view all of the employee’s expenses in one place. Employees can also use a personal finance app or spreadsheet to keep track of their own spending and submit it to their employer for reimbursement.