Expense account
Expenses incurred on the road while performing business duties,
receipts for which should always be kept and then recorded and accounted
for in the appropriate accounting category for reimbursement at
a later time. Company credit
Line of credit that is extended to a corporation for travel related
purposes to meet employee expenses for business travel. This can
include hotels,airlines, car rental agencies, premium restaurants,
club memberships, etc.
Per diem rates
Daily amount allocated by a company to meet expenses while on
the road. This can include expenses for hotels, dining, etc.
Cash advance
An amount offered to an employee in advance of a business trip
to meet travel expenses.
Itinerary
Itemized schedule of travel events that usually shows an employee’s
arrival and departure times across various destinations, hotel
stay, meetings and appointments.
Receipt
An official paper or slip for an expense incurred. It is usually
the only acceptable proof of the expense, and the employee must
turn it in to be reimbursed. Includes tolls, dining, taxis, parking,
hotel, etc.
Corporate card
Credit card entrusted to an employee to use for business expenses
exclusively. In almost all cases, it is used to meet business
travel expenses. However, there are cases when office staff are
also issued these cards to meet specified office expenses up to
a pre-determined amount.
OCS
On Company Service. This refers to any activity you do while representing
the company outside the office, and relates not only to expenses
but also to other items, such as insurance coverage.
Frequent flyer miles
Rewards and bonuses that you receive from a particular airline
(or a consortium of different airlines) for flying on a frequent
basis. It is usually calculated based on the amount of air miles
that you are traveling between destinations. These miles can be
redeemed for free tickets and gifts.
Living out of a suitcase
The act of constantly traveling, being on the road and away from
home for extended periods of time. The term refers to having to
pack all the necessary items that you need for travel in a suitcase
and not having the comforts of home.
Perks
Fringe benefits that depend on level of position that add further
value to your compensation package. The higher you are in an organization,
the more perks you receive. Perks include country club memberships,
company car, housing allowance, profit sharing and stock options,
and better travel allowances.
Reimbursement
The money that the company returns to you for legitimate and documented
expenses that are incurred while traveling on business. |
How to Learn Chinese
