How you can optimize your company’s expense management (and spend the time elsewhere)

10 mins

By Mark Davis, June 17,2022

💡 Good to know: the expense must be proportional to the needs of the company. If it’s not, it’s known as ‘sumptuary’ or extravagant spending, for example stretched limousines, Michelin stars and presidential suites in luxury hotels. Expenses like these are highly unlikely to be valid.

💡 Good to know: be careful, as these legal limits change almost every year. Keep up to date with them to avoid confusion and the risk of sanctions.

🔔 Important: remember that only expenses reimbursed as actual costs require a proof of purchase. In the case of fixed allowances, receipts are not mandatory. However, it’s still a good idea to keep hold of some sort of paper trail to show to tax inspectors in case of an audit.

Mark Davis
Mark worked for 12 years in broadcast journalism before making the switch to business audiences. A Qontoer since 2021, his focus is on writing copy that speaks frankly and directly to customers.
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