{"id":1623,"date":"2015-08-01T06:35:29","date_gmt":"2015-08-01T06:35:29","guid":{"rendered":"https:\/\/ktproject.ca\/?p=479"},"modified":"2023-07-10T06:33:07","modified_gmt":"2023-07-10T06:33:07","slug":"more-tips-on-tipping-and-claiming-meal-expenses","status":"publish","type":"post","link":"https:\/\/ktproject.ca\/more-tips-on-tipping-and-claiming-meal-expenses\/","title":{"rendered":"More Tips on Tipping and Claiming Meal Expenses"},"content":{"rendered":"\n
Here are more tips for meals that are a business expense and getting reimbursed<\/em> INTRODUCTION<\/strong> The article How to Tip Your Server at a Restaurant<\/em> offers excellent advice about tipping. This includes information about international norms and provides an easy way to calculate a 10% or 20% tip. Just move the decimal point of the cost to find 10%, and then double it for 20%.[1] If the meal is a business expense, however, there are a couple things that must always be done. I will remind you what these are and offer more tips to save you money and time. DISCUSSION<\/strong> First, calculating the tip is easy enough. Later when you prepare your expense report, you may need to report the GST separately. Then you may also need to report the sum of the tip and the meal cost, while ensuring the total cost with the sum of all three numbers remains the same. This number crunching is monotonous and prone to data entry error. It is true what Benjamin Franklin said, that \u201ctime is money,\u201d so why not make it as simple as possible? When calculating the tip, round the<\/em> <\/em>amount to the nearest full dollar<\/em>. See an illustration of paying a full dollar amount in Figure 1, which follows these steps. <\/p>\n\n\n\n Second, for a meal that is a business expense, you must save the receipts!<\/em> If you do not, your company or employer cannot reimburse you for the expense. The meal then becomes a personal expense, paid for using your after-tax dollars! After paying, keep both the register and payment receipts. Write \u201cCOPY\u201d on one, so you do not inadvertently try to expense the same item twice. Write a note on the other about the meal purpose and to list the attendees. Make it a habit, as soon as you arrive at wherever you file your expenses (e.g., home or office), to immediately file the receipts in a folder designated for that purpose. Then you will be prepared to be reimbursed with the next expense report (e.g., monthly). I file my receipts in a 10\u201d x 12″ expandable file pocket that was given to me at a NACE conference. See my expense folder and an expense report with receipts in Figure 2.<\/p>\n\n\n
<\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n\n\n\n\n
<\/p>\n\n\n\n