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Fillable Form Expense Reimbursement Request Form

Expense Reimbursement Form is a request form for employees to track expenses and submit for reimbursement.

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What is an Expense Reimbursement Request form?

An Expense Reimbursement Request form is used to reimburse an employee’s business-related expenses on behalf of the company.

Several situations where employees might incur business-related expenses are working remotely and traveling for off-site transactions, such as meetings and conferences.

How to fill out an Expense Reimbursement Request form?

Company Name

Enter the company name.

Employee Name

Enter your name.

Employee ID

Enter your employee identification number.

Department Name

Enter your department name.

Designation

Enter your position in the company.

Purpose

Enter the purpose of the expense.

SSN

Enter your Social Security Number (SSN).

Date

Enter the date when expenses are incurred.

Description

Enter the description of your incurred expenses.

Transportation

Mileage/Rate

Enter the incurred expenses for the mileage rate of your vehicle.

Train

Enter your incurred expenses in traveling by train.

Parking

Enter your incurred expenses for parking fees.

Other

Enter your other incurred expenses for transportation.

Accommodation

Enter the incurred expenses for the accommodations used or rented for business errands.

Others (Pls Specify)

Enter other specific expenses incurred for business purposes.

Totals

Add all the incurred expenses and enter the total.

Total Reimbursements Claimed

Enter the total amount of reimbursements claimed.

Employee Signature

Enter your signature.

Date

Enter the date you signed the Expense Reimbursement Request form.

Approval Signature

Enter the signature of your company representative, who will approve the Expense Reimbursement Request form.

Date

Enter the date the Expense Reimbursement Request form was signed for approval.

Date Submitted for Reimbursement

Enter the date the Expense Reimbursement Request form was submitted for reimbursement.

What is the purpose of an Expense Reimbursement Request form?

If an employee pays for business matters on behalf of the company, he or she is entitled to expense reimbursement using an Expense Reimbursement Request form.

The company needs to evaluate the reimbursement request. If the claim is valid, the company must pay for all business-related expenses of the employee.

Some of the business-related expenses include:

  1. The mileage rate for employee's vehicle;
  2. Transportation including parking fees;
  3. Telework expenses and equipment costs for an employee working remotely; and
  4. Accommodation fees during business travel or meetings.

An Expense Reimbursement Request form is essential in detecting fraud and discrepancy in the company as it contains its accounting records.

What are the requirements for business expense reimbursement?

The following are the documents required to reimburse business expenses.

  1. Accomplished Expense Reimbursement Request form
  2. Detailed receipt or invoice of the total cost as proof of payment
  3. Specified foreign currency in receipts
  4. Supplementary document for the descriptions of purchase and business purpose, if the descriptions listed on the Expense Reimbursement form is not clear enough

How to file an Expense Reimbursement Request form?

All business expenses that are listed on the Expense Reimbursement Request form must have receipts. These receipts must be attached to the accomplished Expense Reimbursement Request form together with the other requirements. Failure to provide these documents may deny or reject the reimbursement request.

Submit all requirements to your manager or the representative of your company immediately. Most companies require a 30-day allowance for business expense reimbursement to be valid. Inform the company and file for reimbursement within 30 days after an expense has been incurred.

How to handle expense reimbursement?

An employer is obligated to return all necessary, business-related expenses or losses incurred by an employee. Failure to do so is subjected to court claims and be held liable for the attorney fees and court costs of the employee.

However, an employer must be aware that not all business expenses of employees are deductible. According to the Internal Revenue Services (IRS) Publication 535, Business Expenses, a business expense is considered deductible if it is both ordinary and necessary. If the employee's business expenses do not constitute the deduction policy of the IRS and the company, no reimbursement will happen.

Employers need to implement clear and written policies about business expenses. Setting standards and reasonable rates for reimbursement will help solve and prevent conflicts.

It is also essential to maintain an orderly record of paid and unpaid reimbursement claims to avoid confusion.

What is a Business Expense?

Business Expense, also known as Deduction, refers to the cost incurred by employees on behalf of the company in normal business operations.

A business expense must be both ordinary and necessary to be deductible or operated to make a profit.

What are ordinary and necessary expenses?

Ordinary expenses refer to business expenditures that are common and acceptable in the industry. These are the typical expenses used to run the daily operations of a business. A business expense is necessary if it is helpful and appropriate for the trade but not indispensable.

Examples of ordinary and necessary expenses include, but not limited to:

  1. Gasoline fees;
  2. Business meals;
  3. Holiday gifts, cards, and newsletters sent to customers for promotion and other business purposes;
  4. Business-related software;
  5. Rental expenses;
  6. Transportation expenses; and
  7. Insurance acquired for business purposes.

What is the disadvantage of business expense reimbursement?

Transparency in the employer-employee relationship is important. It contributes to the overall success of the company. Although business expense reimbursement is beneficial to employees, it might be a disadvantage to employers. There is a possibility of fraud if an employee intentionally reports a wrong amount of his or her business expenses. Perhaps the employee has used the resources to his or her advantage and counted it as a business expense.

Hence, companies must enforce an efficient expense reimbursement policy to avoid such a situation.

What is an expense reimbursement policy?

An expense reimbursement policy is a set of guidelines enforced by an employer in dealing with the employee's business expenses.

It provides guidelines regarding the process of business expense reimbursement and what types of expenses are entitled to payment.

Some companies limit their employees from using personal equipment or resources for business purposes to avoid further liabilities. Establishing an expense reimbursement policy also sets expectations on reimbursement rates and the limitations of incurring business expenses.


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