What reimbursements are:
Reimbursement is a method of paying employees back when they spend their own money on business related expenses. Most of these expenses occur when the employee is traveling for business, but they can occur in another scenario’s too.
Expenses can include a sudden overnight stay in a hotel or the fair of a cab or other incidental expenses. Before being reimbursed the expenses need to be checked if they match the company policy. Usually legislation provides guidelines into which categories of business expenses or to which amounts the employee can be reimbursed without a taxation penalty.
Not only can this be a costly experience if handled incorrectly it also is time consuming for both the employee and the financial department. Our app “Reimburse-It” streamlines this experience and help both parties find the middle-ground using modern technology. Ultimately, we save time and time is money.
