Travel & Entertainment Expenses

Too many policies in this area are made AFTER someone walks in to accounting with a huge expense report filled with expenses the business ownership/management consider questionable. Setting up a detailed policy that specifically outlines what is considered acceptable in terms of expenses serves everyone’s purpose. Take it a step further – get a signature on the policy indicating the employee agrees to abide by all terms and conditions. There are too many cases of terminating employees in battles with their former employer over expenses. Best to act now vs. paying later.