The purpose of this policy is to document the allowable business expenses eligible for reimbursement. These include necessary and reasonable expenses as defined under section 162 of the Internal Revenue Code. Also included is additional reference information that may be useful to Lean Sigma Corporation employees and contractors in submitting employee business expense reports in order to receive timely reimbursement. If you are not sure how to classify a certain expense, send an email with your question to adminlscorp.com.
Guideline For Qualified Expense Categories
- Office Equipment
- IT Equipment
- Airfare
- Lodging
- Taxi
- Mileage
- Parking
- Tips
- Tolls
- Meals
- Postage
- Cell Phone
- Internet
Substantiation Requirements
All approved travel and business related expenses incurred by employees/contractors must be paid by the employee/contractor. Subsequent reimbursement requestes must be accompanied by a receipt or supporting documentation. Failure to provide such will result in denial of reimbursement. When approved reimbursable travel is incurred for Lean Sigma Corporation clients, all expense policies and guidelines of the client must be followed. The Lean Sigma Corporation publishes its own expense guidelines for employees/contractors who are required to travel on behalf of the Lean Sigma Corporation:
- Meals: Reimbursable up to $40/day
- Lodging: Reimbursable up to $160/day
- Mileage: $0.50/mile
Falsification of Expenses
Submitting fraudulent receipts or falsifying expense reports will result in the loss of reimbursement privileges and/or termination of employment.
Expense Authorization
All employees/contractors who expect or anticipate expenses are expected to submit an expense request to their manager outlining the expected expense, purpose, amount and relevant dates. An email from the manager authorizing the expense must be received by the employee/contractor before incurring such expenses.
Expense Reimbursement Submission Guideline
Expense reports are due within 2 weeks of occurring the expense. If you are unable to meet this timeline, you are responsible to contact your manager to inform them of your expected timing. Reimbursements of approved expenses will be included with your regular pay no earlier than the second pay period after the expense reimbursement submission.
