Reimbursements
Workforce Management Glossary
Reimbursements
What are reimbursements?
Reimbursements are defined as employers paying back employees for out of pocket expenses. When dealing with reimbursements it’s important to note that there are a few different categories to consider.
One such category is travel expenses. This could involve plane fares the cost of hiring a car or being reimbursed for the fuel used in an employee’s personal car. In the modern age it’s also important to note that setting up an at home office for remote work can also be counted as a reimbursable expense.
What is the benefit of having a defined reimbursement policy?
One of the main benefits of a reimbursement policy is the fact that employees are appropriately covered for any outlays they must make in order to complete a business related task. While this seems relatively simple choosing not to reimburse employees can have negative impacts that are quite far reaching.
When an employee is properly reimbursed job satisfaction and workplace morale remains high. Should reimbursement not be organised employees can become disenfranchised which leads to poor workplace morale low productivity rates and high employee turnover rates.
In terms of business operations having a reimbursement policy in place can help to accurately manage expenses. By ensuring that there is a policy in place that cannot be violated it helps to put measures in place that safeguard a company’s financial health.
Are there ways for organisations to manage expense reimbursement?
Manual reimbursements can often be a tedious process. Receipts have to be presented and filed alongside the relevant expense claim paperwork. With Roubler’s expense management and claims software there is no paperwork required.
With the ability to facilitate photo uploads employees can instantaneously photograph receipts and submit claims. For management accepting the claim is as easy as the swipe of a button and from there it will be synched with payroll so employees can be reimbursed accurately and quickly.