What is Travel expense approval form?
It is a document that is used by the employees of the company to get the approval to make expenses on behalf of the company while traveling.
Some companies ask the employees to provide the travel expense report so that they can reimburse all the expenses through the payroll. However, there are many businesses that require the employee to get the approval of the expenses that the business will incur while traveling.
Benefits of using the travel approval form:
Using this expense approval form is equally beneficial for both employee and the company.
- Getting the approval from the company in advance makes it easier for the employee to set his limits while making expenses. For example, he can choose the type of hotel for his stay depending on the amount of money that his organization has approved to be spent.
- The company can also know the expenses that it is going to incur. This makes the company know about the unnecessary expenses that the employee will make and it can disapprove it.
Key components of approval form:
The main details of the approval for travel expenses are:
- Details of the employee
- Travel details
- Expenses details
It is always very important for an employee to get the approval from the company before making the expenses on its behalf. There are also some policies that are set by the company regarding the expenses approval. In some companies, it is obligatory for an employee to get the approval before spending the money.
Importance of travel expense approval form:
The employees are not responsible for paying any business cost out of his pocket. Whenever an employee spends money for any business purpose, the company is responsible to reimburse all the money spent by him.
Sometimes, the reimbursement is done after the employee makes all the purchases that were approved by the company. The reimbursement is done by the company separately and it is not the part of the payroll, however, some companies also reimburse through the payroll.
Preview and Details of Template
Travel Expense Approval Form Template
File: Word (.doc) 2003+ and iPad
Size 81 Kb | Download
[Personal Use Only]