Taxi fares Restaurant bills Refreshments Car Parking Certain expenses cannot be paid for in advance....
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Transcript of Taxi fares Restaurant bills Refreshments Car Parking Certain expenses cannot be paid for in advance....
![Page 1: Taxi fares Restaurant bills Refreshments Car Parking Certain expenses cannot be paid for in advance. These can be paid for using:](https://reader038.fdocuments.net/reader038/viewer/2022103015/5518aacb550346881f8b4c64/html5/thumbnails/1.jpg)
![Page 2: Taxi fares Restaurant bills Refreshments Car Parking Certain expenses cannot be paid for in advance. These can be paid for using:](https://reader038.fdocuments.net/reader038/viewer/2022103015/5518aacb550346881f8b4c64/html5/thumbnails/2.jpg)
• Taxi fares
• Restaurant bills
• Refreshments
• Car Parking
Certain expenses cannot be paid for in advance.
These can be paid for using:
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• Banks/Building Societies
• Travel Agents
• Post Office
Sterling (£) or the local currency.
Foreign Currency can be purchased from:
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• Useful for small purchases
• Convenient
Advantages Disadvantages
• No protection/insurance against loss or theft
• Coins can be bulky
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• 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
![Page 6: Taxi fares Restaurant bills Refreshments Car Parking Certain expenses cannot be paid for in advance. These can be paid for using:](https://reader038.fdocuments.net/reader038/viewer/2022103015/5518aacb550346881f8b4c64/html5/thumbnails/6.jpg)
• 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
![Page 7: Taxi fares Restaurant bills Refreshments Car Parking Certain expenses cannot be paid for in advance. These can be paid for using:](https://reader038.fdocuments.net/reader038/viewer/2022103015/5518aacb550346881f8b4c64/html5/thumbnails/7.jpg)
• 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
![Page 8: Taxi fares Restaurant bills Refreshments Car Parking Certain expenses cannot be paid for in advance. These can be paid for using:](https://reader038.fdocuments.net/reader038/viewer/2022103015/5518aacb550346881f8b4c64/html5/thumbnails/8.jpg)
• Safer than carrying cash
• Automatically deducted from the bank account
Advantages Disadvantages
• Not accepted by all businesses
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• 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
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• 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.
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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
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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
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When the form has been checked the employee will be reimbursed by:
• A cheque
• Added onto wages
• Paid directly into his/her bank account