Business-related travel and entertainment (T&E) activities have resumed at many companies. Unfortunately, these expenses may be susceptible to incomplete recordkeeping and even fraud. So, it’s important for companies to implement formal T&E policies to ensure reporting is detailed and legitimate. Now’s a good time to remind workers about the basics, including what’s considered a “reimbursable” expense, what details must be provided for business meals, and how often expense reports should be submitted. Your company also might want to invest in expense tracking software. Contact us for more information about best practices in reporting T&E expenses.
