Reimbursement
Encyclopedia
Reimbursement is the act of compensating someone for an expense . Often, a person is reimbursed for out-of-pocket expenses
when the person incurs those expenses through employment or in an account of carrying out the duties for another party or member.
Common examples are firms compensating individuals who buy supplies for their companies, or firms compensating employees on field or out-of-town assignments who pay for their stay and transportation.
Reimbursement can be of many types like day care, mobile expense, transport, medical expense, study expenditure.
Out-of-pocket expenses
Out-of-pocket expenses are direct outlays of cash which may or may not be later reimbursed.In operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for the trip...
when the person incurs those expenses through employment or in an account of carrying out the duties for another party or member.
Common examples are firms compensating individuals who buy supplies for their companies, or firms compensating employees on field or out-of-town assignments who pay for their stay and transportation.
Reimbursement can be of many types like day care, mobile expense, transport, medical expense, study expenditure.