• Taxi fares

• Restaurant bills

• Refreshments

• Car Parking

Certain expenses cannot be paid for in advance.

These can be paid for using:

• Banks/Building Societies

• Travel Agents

• Post Office

Sterling (£) or the local currency.

Foreign Currency can be purchased from:

• Useful for small purchases

• Convenient

Advantages Disadvantages

• No protection/insurance against loss or theft

• Coins can be bulky

• Such as Visa and Mastercard

• Credit cards allow people to purchase goods and services on credit

• A statement is sent every month stating how much is owed

• An individual can use a company credit card

• Safer than carrying cash

• Purchases are covered by insurance

• In case of emergency more cash may be available

Advantages Disadvantages

• Not accepted by all businesses

• Interest is charged on balance owed each month unless paid back in full

• Such as Switch or Delta

• Payment is automatically deducted from the account by the bank

• Can also be used to withdraw money in many countries

• Safer than carrying cash

• Automatically deducted from the bank account

Advantages Disadvantages

• Not accepted by all businesses

• Can be purchased from the same outlets as foreign currency

• Each is worth a fixed sum and must be signed on purchase

• They must be signed when being cashed along with ID (passport) being shown

• Safer than carrying cash

• Lost or stolen cheques will be replaced

• Unused cheques can be exchanged for sterling (£)

Advantages Disadvantages

• Commission may be charged when purchasing goods

• Exchanged for currency at a Bureau de Change, or a bank when abroad.

Commission may be charged.

Whenever a business traveller pays for something they must keep a receipt.

Method of Purchase Record of Purchase

• Cash • Receipts

• Credit Card • Copy of sales voucher

• Travellers Cheques • Record of Cheque Number

The traveller will claim back expenses using an expenses claim form. This will be checked by:

• Ensuring all receipts/sales vouchers are attached to the form

• Check the receipts against the figures on the form

• Check the addition of items and the total claimed

When the form has been checked the employee will be reimbursed by:

• A cheque

• Added onto wages

• Paid directly into his/her bank account