oboloo Glossary

Business Expense Reimbursement

oboloo Glossary

Business Expense Reimbursement

Business expense reimbursement is the practice of reimbursing employees for out-of-pocket costs associated with conducting business. This can include travel expenses, meals, entertainment, and other miscellaneous expenses. It’s important for businesses to have a clear policy about how and when these expenses will be reimbursed in order to stay compliant with tax laws and maximize employee satisfaction. Reimbursement is an effective way to ensure that employees feel supported while traveling on company business and they can confidently make necessary expenditures knowing they’ll be compensated in the end.