1. Paying for Travel Unit 7a

2. Click to return to Sum up page Types of Expenses incurred Cost of package to travel agent Travel, eg train ticket Accommodation, eg hotel Food, eg to restaurant

3. Click to return to Sum up page Methods of Paying for Travel Cash Cheque Business Credit card Business Debit card Account Travellers’ Cheque

4. Click to return to Sum up page Cash Cash must be exchanged into foreign currency for use in other countries eg Euro for most of Europe Used for paying for small expenses or where other methods are not acceptable. For example bus or taxi fares, car parking

5. Click to return to Sum up page Cheques Cheques are used for larger expenses but not used commonly now. Often used by businesses to pay bills received from travel agents or hotels.

6. Click to return to Sum up page Business Credit Card Credit cards allow people to “buy now and pay later”. Used for expensive purchases like hotel bills, car hire and meals. Travellers needn’t carry large amounts of cash and employees are not out of pocket. Credit cards are accepted worldwide. The organisation can check the itemised statement and control expenditure

7. Click to return to Sum up page Business Debit Cards Debit cards allow holders to pay for large purchases directly from their bank accounts. They can also be used to withdraw cash at ATMs. Travellers needn’t carry large amounts of cash. They are not acceptable worldwide but can be used in most of Europe. The organisation can check the itemised statement and control expenditure

8. Click to return to Sum up page Travellers’ Cheques Travellers’ cheques are bought before travelling – they can be exchanged for cash or in some countries to pay for goods and services. If stolen they will be replaced.

9. Click to return to Sum up page Account When an organisation uses a Travel Agent, the Travel Agent usually sends the organisation an account/invoice/bill for all travel costs. The account will be checked carefully before being paid.

10. Click to return to Sum up page Deciding Which Method ExpenseMethod Used Justification Pay for a meal in restaurant abroad Credit card Credit card can be used worldwide. Saves carrying cash Paying for hotel bill in Edinburgh Debit cardWidely accepted in this country. Payment straight from bank Taxi fareCash in currency of country Taxi drivers unlikely to accept other forms of payment

11. Click to return to Sum up page Travel Expense Claim Forms Smaller organisations do not issue credit cards – employees use their own and then reclaim expenditure from the company. They do this using: Travel Expense Claim Form Receipts of all expenses

12. Click to return to Sum up page Travel Expense Claim Form cont Employee only claims for legitimate expenses Employee includes receipts Finance dept check all claims Check receipts and calculations

13. Click to return to Sum up page Advantages of Claim Form Employees know what can be claimed for Easier for Finance Department to check if a standard form is used by all staff Easier for organisation to monitor and analyse expenditure Can be placed on intranet for all staff to access

14. Click to return to Sum up page To Sum Up … Types of ExpensesTypes of Expenses Methods of paying for travelMethods of paying for travel Cash Cheque Business Credit CardBusiness Credit Card Business Debit CardBusiness Debit Card Travellers’ ChequesTravellers’ Cheques Account Deciding which method to useDeciding which method to use Travel Expense Claim FormTravel Expense Claim Form Advantages of using a Claim FormAdvantages of using a Claim Form