Travel and entertainment policy examples

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Travel and Entertainment Policy

Background and Policy Overview The Company expects employees to carefully manage travel and entertainment expenses and will reimburse employees for reasonable business expenses in accordance with this Travel and Entertainment Policy. The Company strives: 1) to help employees accomplish their missions while traveling on business by putting in place structures and procedures designed to save them time and effort. 2) To provide employees who must travel as part of their jobs with an exceptional level of services and security with minimum inconvenience. 3) To accomplish the above at the lowest reasonable cost. This policy will be administered to meet the above objectives and will follow standards applicable to IRS regulations governing business expenses and generally accepted accounting practices. Specific items addressed in this policy are listed below:

18. Gratuities and Tips

  1. Advances – Employees should use their corporate credit card or other personal credit card whenever possible. Cash advances up to $300 will be made upon receipt of a check request (Form #XXXX) signed by the supervisor. Employees must return unused advances following completion of a trip along with an expense report (Form #XXXX). Travel advances must be accounted for within 30 days of receipt, complete with appropriate documentation and reported on an expense report. A second advance will not be made if a previous advance is outstanding.
  2. Air Travel – All air travel arrangements are to be made through the approved travel agency, Travel Leaders.Airfare is to be booked at the lowest available fare, assuming there is no more than one stop or one connecting flight for each flight segment, or within five percent of the lowest available fare. If the lowest fare is a penalty fare, the traveler should use good business judgment in deciding whether the penalty fare option should be booked. If there is a good to fairly high likelihood of the travel needing changing, the penalty ticket should not be booked and the traveler should choose the next lowest fare or a fare within 5% of the lowest fare. Requests for nonstop service, specific carriers or specific airports will not be accepted by Travel Leaders unless the fare is within 5% of the lowest available fare or there has been prior approval by the Controller.Travelers should attempt to make arrangements 30 days in advance, but no less than seven days in advance to secure the lowest possible airfare. Travelers must fly coach class. If traveling internationally, business class travel is acceptable if the travel segment exceeds 10 hours of scheduled flying time and/or the travel is in intra-regional areas outside the U.S. and Canada where extreme differences in check-in privileges result from traveling business class. Frequent flyer benefits can be used to upgrade the travel class at the traveler’s expense. All air travel is to be booked on a commercial common carrier. Charters are to be used if it is the only reasonably convenient way to get to a certain place at a certain time and/or it has an associated cost benefit. Chartered aircraft must have the prior approval of the Controller. When a trip is in progress and changes are necessary, arrangements can be made via the Travel Leaders toll-free 800 number. The purchase of flight or luggage insurance is a personal expense to the employee and is not reimbursable. The Company provides insurance for accidental injury or death for all employees traveling on Company business. No more than two elected officers may travel together on the same aircraft. For reimbursement of air travel, the passenger receipt must be attached to the expense report documenting the business trip.
  3. Airline Club Membership – The Company will reimburse, for Vice President and above who travel frequently, the expense of one airline club membership per year, not to exceed $300.
  4. Travel Management Agency – The travel agency of record is Travel Leaders and is to be used for booking flights and making reservations for hotels and car rentals. The agency is responsible for assisting employees in managing its travel policy and selecting the most cost effective travel arrangements. Travel Leaders is a full service travel agency and can support all offices through the use of overnight carriers and point of departure ticket printing.
  5. Approval of Expense Reports – All expense reports are to be approved by the employee’s immediate supervisor. The supervisor should validate the business purpose for the expense, the reasonableness of the expense and the completeness of the documentation. Partially completed, unapproved or poorly documented expense reports should be returned to the employee. Reimbursement will only be made for properly documented and approved expenses.
  6. Automobile Rental – The Company will reimburse the reasonable rental of a compact or mid-size automobile. All automobile rental reservations should be made through Travel Leaders.When traveling in the U.S., employees should decline the optional collision damage insurance and other rental insurance coverage offered by most car rental companies. The Company provides adequate car rental insurance for travel within the U.S. through its corporate insurance policy and will not reimburse employees for any additional coverage.When traveling outside the U.S., employees should purchase all insurance coverage offered by automobile rental agencies. The Company will reimburse the employee for the additional coverage. Rental cars should not be used when a shuttle service is available or when taking a taxi would be less expensive than renting a car. Many hotels provide free limousine service to and from the airport. The traveler should use the less-expensive mode of transportation as long as it does not interfere with the efficient conduct of business. Rental cars should be refueled before returning the car to the rental company.
  7. Babysitting/Child Care Fees – Normal daytime child care expense is an expense of the employee. However, for employees whose job responsibilities do not normally require travel, an occasional out-of-town overnight business need may require that arrangements, other than family, be made for child care. In this situation, with approval by the Controller, the Company will reimburse the reasonable cost of child care.
  8. Cellular/Mobile Phones – The Company will reimburse for the incremental business use cost of a cellular or mobile phone. Good business judgment should be used in deciding whether a cellular or mobile phone call is appropriate in the given business situation. Proper documentation is required. The phone bill must be provided with each call documented with the name of the client or the business purpose for the call. The Company will not purchase or lease the equipment.
  9. Conventions and Seminars – The Company will reimburse the reasonable cost of conventions and seminars as long as they relate to the employee’s job function or business.
  10. Credit Cards and Fees – Most credit card companies will issue a card without any annual fee. However, the Company will pay the annual credit card fee for one credit card for employees with regular business needs. The amount of reimbursement will be up to but not to exceed the fee of a corporate credit card.
  11. Currency Conversion – It is the Company’s desire that when traveling to foreign countries, the employee shall neither gain nor lose as a function of changes in currency exchange rates. Money can be converted at competitive rates at the arrival airport and converted back to U.S. dollars prior to departure. When converting money, the foreign exchange receipt showing the conversion must be submitted for reimbursement.Most expenses incurred in foreign travel should be charged to a credit card. The traveler will be reimbursed upon the receipt of both the original receipt and receipt of the credit card monthly statement which gives the actual currency settlement in terms of U.S. dollars. If circumstances warrant, a deposit against these anticipated expenses will be made if the risk exists of exceeding credit limits such that future business travel is in jeopardy.All foreign exchange commissions and fees related to cash expenditures will be reimbursed by the Company.
  12. Dry Cleaning/Laundry – Reasonable expenses for dry cleaning and laundry will be reimbursed if they are incurred as a function of continuous business travel away from home for a period of seven or more days.
  13. Entertainment – Generally the Company will reimburse the reasonable cost of entertainment as long as a bona fide business purpose exists and a business discussion occurs during the event, immediately before or immediately following the entertainment event. Examples of entertainment include nightclubs, cocktails, theater, country club or sporting events. Entertainment expenses require additional documentation relative to the duration of the business discussion, nature of the discussion, the business reason for the entertainment, the expected benefit to be derived, and the names and titles of attendees. The reimbursement for tickets is limited to the face value or less (i.e. scalper prices are not reimbursed). As a reminder, the Company can only deduct 50% of entertainment cost for tax purposes.
  14. Expense Reimbursement – Travelers should file expense reports within five days after completion of the trip. The Company will not reimburse an employee if the expense report is submitted 45 days or more after the expense was incurred. If international travel is involved and the traveler charges a foreign currency expense that misses the next billing statement, the 45-day limit will be extended to 75 days.
  15. Fines – The Company does not reimburse fines or court costs associated with traffic, parking or speeding tickets incurred in conjunction with Company travel. Employees are encouraged to be good corporate citizens by complying with all state, federal and municipal regulations.
  16. Frequent Flyer Program – Employees are encouraged to use frequent flyer awards for purchase of Company travel as a way of staying within budget. However, the Company allows employees to use travel vouchers awarded in conjunction with a frequent flyer program or travel passes given in exchange for flight delays, cancellations or inconveniences, or as a promotion of the airlines for upgrades to business class, first class or personal travel. If frequent flyer miles are used for Company travel, no reimbursement for value will be made. Any premium incurred because an employee selected an air carrier for its frequent flyer program is to be paid by the employee.
  17. Gratuities and Tips – Excellent service is always appreciated and should be recognized. Guidelines suggest that an adequate level of expression for good services is up to 15% of the value of the service received. The Company will reimburse tips up to 15%. For documentation purposes, tips should be included on the charge card payments. Tips for $5.00 or more, not documented, will not be reimbursed.
  18. Hotels/Lodging – All hotel/lodging reservations are to be made through Travel Leaders, our designated travel agency. They will ensure use of preferred hotels with which the Company has negotiated rates. In cases where no preferred hotel is available, they will secure a hotel at a rate within the range of acceptable per diems which vary by city. If an employee wishes to stay in a non-preferred hotel and/or accommodations exceed the rate negotiated with the preferred hotel, prior approval by the Controller is required for the difference in rate and must be incurred as a personal expense. Most hotels require an advance deposit or credit card number to guarantee “late arrival.” When guaranteed reservations have been made and travel plans change, employees are responsible for contacting the travel agency or the hotel to cancel the reservation and avoid a “no show” charge. When canceling a reservation, the employee should request and make note of the name of the hotel associate making the cancellation, time of call, and cancellation number. The employee should also remind the hotel to remove the reserve charge from the employee’s credit card. The Company will not reimburse for a “no show” charge unless it can be demonstrated the charge was incurred for reasons beyond the traveler’s control.The Company will not reimburse for temporary use of hotel health clubs, massages, in-room movies or other items of personal comfort. Frequent travelers should obtain a Company-sponsored telephone credit card and use this card in making long distance calls while on business travel. All hotels provide room receipts. The request for reimbursement must include the hotel bill detailing all the charges incurred. In the instance of a shared room, the names of all occupants must be listed. When free lodging is provided by a friend, relative, another employee, or a business acquaintance, a gift of appreciation is appropriate for the host or hostess. Expenditures of up to $50 will be reimbursed for the gift. The receipt for the gift or the meal along with an explanation for the charge must accompany the expense report for reimbursement. This expense is in lieu of a lodging charge.
  19. Insurance – Automobiles, Personal Items – It may be necessary for an employee to use their personal vehicle for Company business. It is assumed the employee is adequately insured and meets the statutory minimum insurance requirement in order to operate a motor vehicle on public roads. Damage losses of personal items left on Company property or with an employee while on Company business are losses of the individual and subject to their personal insurance coverage.
  20. International Travel – Special tax rules apply to international travel of more than seven days or where the travel will be a combination of business and personal. The personal expense portion of the trip must be identified. Any personal tax incurred as a result of personal travel is an expense of the employee.
  21. Meals – Meals generally fall into one of three categories: meals with a client, with fellow employees, or alone while away from home. Only those meals with a client present will be reimbursed by the Company. Generally, meals should be reasonable under the circumstances so as not to be considered lavish or extravagant. The business purpose for the meal must be clearly stated and meet IRS substantiation requirements. All reimbursement for meals over $25, including tip, must be accompanied by a credit card receipt. A restaurant stub with an amount written on it does not meet the “adequate documentation” requirement. In addition to the business purpose and a receipt, the expense report must also include the names of the people for whom the meal was purchased. Meals between employees and lunches purchased while traveling away from home will not be reimbursed by the Company as these are routine personal expenses incurred by the employee during the normal business day.
  22. Medical Charges – Medical charges incurred while away from home should be submitted to the employee’s health insurance provider and will not be reimbursed as travel and entertainment expenses.
  23. Mileage – The Company will reimburse an employee for business miles driven on their personal vehicle at the allowable IRS rate. This rate is inclusive of all costs of owning and operating an automobile other than parking fees. Business miles are considered miles driven:Between the office and a subsequent work related destination.After your first business stop. If your first business stop is the office, the miles driven to the work location in excess of the miles between work and home (i.e. if going to the airport from your home, report only the miles from the office to the airport). If the distance from your home to the airport is less than the distance from your home to the office, then no reimbursement will be made. If an employee elects to drive instead of fly, the mileage reimbursement is limited to the lesser of mileage or airfare and other associated travel expenses.
  24. Parking – The Company will reimburse for parking while on Company business. When parking at the airport, while out of the city, the employee is encouraged to use the long term parking facility which is less expensive than the short term parking facility. The business purpose for parking, like all other business expenses, must be stated and documented with a receipt.
  25. Personal Travel – Personal travel is not reimbursed by the Company. If an employee takes a combination business trip and vacation, any additional cost incurred as a function of the non-business component of the trip must be incurred as a personal expense and paid by the employee.Travel to a foreign country for business, other than a convention, the duration of which is seven days or less, will be reimbursed. If non-business activity accounts for 25% or more of the time spent outside of the U.S., or the trip is more than seven days, the expenses allocable to the non-business activity will not be reimbursed. Any personal travel while on international business must first be approved by the employee’s supervisor and the additional expenses must be incurred as a personal expense and paid by the employee. If any portion of the trip is deemed personal and the employee is a principal officer or related to the employer (i.e. owner), one half of the cost of the airfare is also deemed to be personal. Travel days are not considered personal days.Foreign travel for a convention is treated like any other foreign travel as long as it directly relates to the employee’s work; and it is as reasonable for the convention to be held in a foreign country as it is in the U.S. because other attendees are not from the U.S.
  26. Receipts and Documentation – Travel and entertainment expense documentation must be adequate and sufficient to support: The amount (i.e. a receipt) The fact that the employee paid it The time, place, date and description The business purpose or benefit The business relationship of the person or persons entertainedReceipts are required as support for all expenses. If the expense is $25 or more, a credit card receipt is required as well. On the rare occasion where a receipt is not provided, a written statement from the employee as to what happened can substitute. Legitimate business expenses such as books, subscriptions, or dues charged to a credit card over the phone requires the credit card receipt and invoice. A chronic problem with an employee where receipts are not provided will result in expenses not being reimbursed. To avoid duplicate payments, original receipts must be attached. The corporate charge card detail and photocopies of the charge card detail are not considered original receipts by the IRS and are not acceptable documentation. Expenses denominated in a foreign currency charged to a credit card will not be reimbursed until a credit card settlement statement, relative to currency exchange, is provided.
  27. Refunded/Unused Tickets – The employee must return any and/or all unused tickets to the travel agency in order to get the money refunded. If the traveler is at the airport, the ticket can be credited against the new ticket.
  28. Relocation – Employee relocation expenses are governed by a separate policy and administered through the Human Resources Department. The procedures and forms used for reimbursement or payment of relocation expenses will be provided to the employee. Relocation expenses are subject to certain personal and business tax regulations. Therefore, there must be a review of the planned relocation package during the employment offer stage. A review by the Human Resources Department and the Controller are required before the offer is extended to the employee. Once an agreement is reached, the employee is to submit all relocation expenses to the Human Resources Department for approval and will then submit the relocation expense report to the Controller for processing.
  29. Spouse – Travel, Expenses – The Company does not pay for the cost of the spouse traveling with an employee unless having the prior approval of the Controller. On occasion it may be deemed necessary and appropriate that a spouse travel with the employee, in which case appropriate expenses will be reimbursed and reported as income to the employee on a non-grossed up basis. The business reason for the traveling spouse must be part of the supporting expense documentation and it must be approved by the Controller. Some expenses that might be incurred are hotel upgrades to double occupancy, per person cab fare rates, airfare, meals and entertainment.
  30. Taxis and Limousines – The Company will reimburse the properly documented, reasonable cost of taxis and limousines. However, limousines that are extravagant or lavish (i.e. stretch limousines) will only be reimbursed up to $50 per day provided a receipt for the service is attached.
  31. Telephone – While traveling on business, the Company will reimburse personal calls up to 30 minutes per day (if using a calling card) or up to $15 per day (if a calling card is not used).
  32. Theft – Company property is insured. It is assumed that associates also maintain adequate insurance on their own personal property. The Company will not cover the cost of lost or damaged personal property as a function of business travel or Company sponsored events. Articles purchased as a result of lost luggage should be charged to and paid for by the responsible airline and will not be reimbursed by the Company.
  33. Train Travel – Train travel to a relatively close destination is considered an adequate means of travel and will be reimbursed if the cost is less than any other means of transportation. However, when circumstances warrant, cross country travel by train which exceeds five hours will be considered personal travel and will not be reimbursed.
  34. Travel Approval – The employee and the employee’s supervisor are accountable for the management of travel costs. Therefore, all travel (job related and non-job related) must be reviewed and approved by the employee’s supervisor prior to the trip. Review and approval/denial should depend upon rationale such as the business purpose, who is traveling, and anticipated costs. This policy takes precedent over the supervisor’s approval.