What Should Your Company Travel Policy Cover?

A company travel policy outlines the provisions for travel and living expenses incurred by employees while on assignments away from the normal work location. It is also designed to cover expenses incurred within the normal work location that are not considered normal living expenses.

A good company travel policy should cover the employee for all reasonable business expenses incurred in carrying out work assignments. This may include airfare, mileage, taxis, and other transportation costs. The company travel policy should also specify coverage on expenses such as lodging, meals incurred on company time, telephone expenses, and in some cases, entertainment.

When creating a company travel policy, standardized forms should be developed to ease the processing for all involved. A company travel policy should also outline what an acceptable dollar amount is for certain expenses. For example, a company may require that the employee will not be compensated for more than $50 per meal. The company travel policy should also state what sort of “proof”, like receipts, is needed, or if any are needed at all.

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