It involves the careful tracking, verification, and processing of reimbursement claims, aiming to provide fair and timely reimbursements. The act of paying back money to someone who has spent it for you or lost it because of you, or… Pay, compensate, remunerate, satisfy, reimburse, indemnify, repay, recompense mean to give money or its equivalent in return for something Pay implies the discharge of an obligation incurred Compensate implies a making up for services rendered. Reimbursement, in the context of business and finance, is a mechanism designed to compensate individuals or entities for expenses they have personally incurred in the course of their professional responsibilities.
Reimbursement refers to the monetary compensation made by companies, organizations, or governments to employees, customers, taxpayers, or other entities for incurring expenses out of their pocket. At its core, reimbursement is the act of compensating someone for an expense they have incurred on behalf of someone else A reimbursement is a payment made to another party that has incurred an expense on behalf of the paying entity Reimbursements are commonly made to employees via their expense reports when they expend funds on behalf of their employers.
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