Travel and Entertainment Best Practices / Edition 1by Mary S. Schaeffer
Pub. Date: 02/09/2007
Travel and Entertainment Best Practices is a comprehensive guide for putting in place a T&E process that is efficient, effective, and compliant with government regulations. Written in easy-to-understand language, the book spells out today's best practices from leading-edge companies for T&E expense reporting, approval, review, and reimbursement./i>… See more details below
Travel and Entertainment Best Practices is a comprehensive guide for putting in place a T&E process that is efficient, effective, and compliant with government regulations. Written in easy-to-understand language, the book spells out today's best practices from leading-edge companies for T&E expense reporting, approval, review, and reimbursement.
Accounting expert Mary Schaeffer offers an overview of the factors that have played a role in the evolution of the T&E function and stresses the vital importance of the approval process, or more to the point, the incorrect application of the approval functionality. She includes realistic suggestions on how to handle situations that occur when managers approve travel items in direct conflict with the written corporate T&E policy.
Travel and Entertainment Best Practices is a must-have guide that covers a broad range of topics including information about:
- The appropriate IRS requirements that need to be incorporated into the organization's policy and how to ensure these requirements are met by its employees
- How to obtain, handle, and store receipts for items your travelers claim on their expense reports
- Creating a solid T&E policy and procedure manual
- Solutions to the headaches that often vex the staff responsible for the processing of T&E information
- Common ways employees try to steal from companies and straightforward solutions to fraud
In addition, the book examines how automation affects the T&E reporting, review, and reimbursement functions, and contains information on T&E issues concerning international travel. Travel and Entertainment Best Practices also includes advice for negotiating contracts for employee travel.
Table of Contents
1 Travel and Entertainment Expense Policy and Reimbursement Process: Not What It Was a Few Short Years Ago.
Trends Affecting T&E Expense Reporting.
Other Issues Affecting the T&E Expense Process.
Other Bad Practices That Plague T&E.
Who Handles T&E?
2 How Corporate Travel Is Booked.
Role of the Travel Agent.
Corporate Travel Offices.
Corporate Intranet Portals.
Online Corporate Booking Services.
Third-Party Corporate Booking Portals.
Making the Selection: Third-Party Travel Service Provider.
Bare-Bones Approach: Employee Self-Booking.
Demise of the Saturday-Night Stay and Other Costly Issues.
Other Booking Issues.
3 T&E Expense Report Approval Process.
Who’s Watching the Store?
Approval Process in a Paper World.
Traveler or Supervisor: Who Should Return the Approved Form?
Approvals in an Electronic Process.
Electronic Processing without Immediate Approval.
Electronic Processing with Immediate Approval.
Approvals: Paper versus Electronic.
Something to Consider.
What about the Receipts?
Inquisitive Managers and Receipts.
4 The T&E Review and Reimbursement Process.
Other Cash Advance Problem.
How Common Are Cash Advances?
Last-Minute Reimbursements: The Demanding Employee.
Reviewing and Checking T&E Expense Reports.
Checking: An Important Consideration.
Recommended Best Practice: Checking Reports.
If Management Won’t Agree to Spot Checking.
When Spot Checking May Not Be Appropriate.
Policy Compliance Exceptions.
5 Accountable or Not: The Tax Implications of Your T&E Plan.
An Accountable Plan.
Reasonable Amount of Time.
Tax Implications of an Accountable Plan.
A Nonaccountable Plan.
Advantages of an Accountable Plan.
Receipts under Accountable Plans.
T&E in a Paperless World.
Pertinent IRS Publications.
Another Reason to Eliminate Cash Advances.
6 Paying for Corporate Travel: T&E Cards.
Employee Use of Own Credit Card.
Company Card with Employee Paying the Bill.
Company Card, Employee Payment, Corporate Guarantee.
Company Paying the T&E Card Bill.
One Card Approach.
Which Approach Is Best?
Issuance of Company T&E Cards.
7 Receipts, Documentation, and Other Issues.
What about Electronic Receipts?
Disaster Recovery: Lessons Learned from Charlie and Katrina.
Other Delicate Issues.
8 Communicating Requirements: The T&E Policy and Manual.
What Kind of Policy Do You Want?
Your T&E Policy, Internal Controls, and the Sarbanes-Oxley Act.
Access to the Policy.
A Two-Minute Assessment of Your T&E Process.
T&E Policy: Good News and Bad.
Administering the Policy.
T&E Policy Best Practices.
Creating Your Own T&E Policy.
Keeping the Policy Current.
Enforcing the Policy.
9 Sample T&E Policy Manual.
Section 1: Policy Approval.
Section 2: T&E Policy Statement.
Section 3: Policy Purpose.
Section 4: Exceptions to the Policy.
Section 5: Employee Responsibilities Related to T&E.
Section 6: Preferred Method of Payment.
Section 7: Supervisor Responsibilities Related to T&E.
Section 8: Accounts Payable Responsibilities Related to T&E.
Section 9: Receipts.
Section 10: Who Pays When More than One Employee Is Involved.
Section 11: What’s Covered.
Section 12: What’s Not Covered.
Section 13: Cash Advances.
Section 14: Airline Service.
Section 15: Denied Boarding Compensation.
Section 16: Unused/Voided Ticket.
Section 17: Rental Cars 94
Section 18: Ground Transportation.
Section 19: Use of Personal Automobile.
Section 20: Preferred Hotels.
Section 21: Lodging Receipts.
Section 22: Meals and Incidentals: For Employee Only.
Section 23: Expenses for Meals for Others.
Section 24: Travel Expenses of Spouse/Personal Guest.
Section 25: Entertainment.
Section 26: Non-Travel Business Expense Reimbursement.
Section 27: Whom to Call with Questions.
Section 28: Other.
10 Solutions to Day-to-Day T&E Operational Problems.
Uneven Policy Enforcement.
Tough Tactics to Get T&E Reports Submitted On Time!
Less Harsh Methods of Getting the Laggards to Turn in Reports On Time.
The Rush Check Issue: Is It the Employee or the Supervisor?
Approvals: Dealing with the Foot-Dragging Manager.
Where Do I Sign?: Managers Who Approve Anything.
One-Size Policy for All: Dealing with Noncompliance Issues.
Fraud Or an Honest Mistake?
The Reservation Game.
When an Employee Departs.
When an Employee Is Fired.
11 T&E Fraud: How to Prevent It.
Review of Occupational Fraud.
Is Expense Reimbursement Really a Problem for the Average Company?.
Scanning Fraud and Receipts.
Where Employees Learn How to Steal.
Dealing with Fraud: Two Extremes.
T&E Fraud Prevention Best Practices.
Detecting Expense Reimbursement Fraud.
What to Do When Expense Reimbursement Fraud.
Last-Ditch Collection Efforts.
Gift Card Problem.
Not-Pretty Gift Card Solution.
Alternative to Gift Cards.
12 Automation: Third-Party and Home-Grown Systems.
How T&E Expenses Are Reported.
How Automated Systems Work: Overview.
Automated Systems: Design Requirements.
Receipts in an Automated Environment.
Reimbursement Payments in an Automated Environment.
Companies Offering T&E Automated Services.
Sarbanes-Oxley Act and Outsourced Operations.
13 Pertinent Issues for International Travelers.
Foreign Exchange Tips.
International Travel Advisories.
Paperless T&E World.
Maximizing Your Returns.
Do-It-Yourself VAT Recovery.
14 Negotiating the Best Rate from Suppliers.
A Matter of Policy.
Where Do Your Travel Dollars Go?
All Travel on a Company Card.
Focus on Your Biggest Savings.
Don’t Overlook International Travel.
The Contract Is Not Set in Stone.
Don’t Promise All Your Business.
Overlooked T&E Savings Opportunity.
Other Savings Associated with Your T&E Card.
15 Best Practices for the Entire T&E Process.
Appendix A GSA Per Diems.
Appendix B VAT Rates for Selected Countries.
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