Expense Reporting Best Practices: One and a Half Day In-Person Seminar

By: Mary Schaeffer, Accounts Payable Best Practice Trainer, Writer/Content Creator, Consultant and Program Developer
Location :- Los Angeles, CA | Wednesday, February 20, 2019 | Thursday, February 21, 2019

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Course Description:

With companies everywhere eyeing the bottom line, insistence on compliance with travel & entertainment policy is becoming more commonplace. What’s more, the IRS has also been taking an equally harsh stance, so compliance must now not only be to the company policies but also IRS rules. Otherwise, you could end up answering not only to the CFO but also the IRS–and that is truly ugly.

In this seminar, we’ll examine best practices as they relate to the expense reimbursement process; practices that will not only keep your Travel & Entertainment (T&E) expenses in control but will also keep you in compliance with IRS regulations. In fact, we’ll start with an intensive review of what the IRS requires of an expense reimbursement policy in order for your company to maintain an accountable plan. We’ll also identify other best practices every organization needs to use in order to have an effective policy. And we’ll share data showing exactly what other companies are doing with regards to expense reimbursements.

We’ll then move on to discuss creating an effective policy and addressing the common problems many companies encounter. These issues were selected based on feedback from hundreds of professionals just like you. And we won’t shirk from addressing the newer services, such as Lyft, Uber, Airbnb and others. AP Now research shows most companies are using these services but few have set guidelines for them. We’ll share some best practice approaches for the use of these services.

The last part of the seminar will focus on the ugly, but prevalent, issue of expense reimbursement fraud. It is a widespread issue that most organizations turn a blind eye to. We’ll discuss the many, many different types of T&E fraud and show you how to combat each type. Before closing we’ll discuss the Foreign Corrupt Practices Act (FCPA) and the T&E implications.

This inter-active session will be filled with real-life examples and attendees will have the opportunity to not only interact with other attendees but see how they’d treat different delicate situations.

Learning Objectives:

After this session, you will be able to:

  • Integrate IRS requirements into your organization’s T&E policy
  • Create processes to address use of new services such as Uber, Lyft, Airbnb etc.
  • Develop tactics to reduce the number of employees submitting expense reports late
  • Build a policy that deals with employee misuse or abuse of the travel and entertainment policy
  • Incentivize managers to approve in a more timely and appropriate manner
  • Implement strong controls to deter expense reimbursement fraud
  • Identify common expense reimbursement frauds some employees employ
  • Implement strong controls to deter expense reimbursement fraud
  • Create a tight T&E policy that will prevent misconceptions about your T&E policy
  • Craft a strong travel and entertainment policy
  • Identify issues missing from your current policy
  • Address effectively all the issues that should be included in an suitable corporate travel policy
  • Create an appropriate auditing process of employee expense reports
  • Effectively update your existing policy
  • Pinpoint weak language in your current policy and tighten it to stop cash leaks
  • Eliminate common expense reimbursement headaches

Areas Covered in the Seminar:

    • Provisions of the Federal Labor Standards Act
    • Three tests to determine if an employee is exempt from the FLSA
    • Six exemptions under the FLSA
    • Computing overtime pay
    • Timeliness of overtime payments
    • Treatment of meal breaks, travel, training, on-call time and outside sales under the FLSA
    • Minimum wage requirements
    • Equal Pay
    • Child Labor
    • Importance of accurate record keeping
    • Posting requirements

    Who Will Benefit:

    • Accounts payable manager
    • Accounts payable director
    • Accounts payable supervisor
    • Accounting manager
    • Controller
    • Assistant controller
    • Accounts payable associate
    • Accountant
    • Accounting manager
    • Disbursements manager
    • Assistant accounts payable manager
    • T&E professionals
    • Expense reporting professionals
    • T&E manager

Course Outline

Day One (8:30 AM – 4:00 PM)
  • Registration Process: 8:30 AM – 9:00 AM
  • Session Start Time: 9:00 AM
  • 9:15 - 10:15 Best Practices to Ensure Compliance with IRS Regs
    • The guidelines to ensure an accountable plan
    • Reimbursing when employees fly their own planes for company travel
    • Your reporting responsibilities if you reimburse above the IRS guidelines
    • Documentation Requirements
    • Use of per diems
  • 10:15 - 11:00 Best Practices to Ensure an Efficient and Fraud Resistant Policy
    • Which is preferable: Per Diems or actual expenses
    • Addressing the issue of cards and cash advances
    • Addressing the company card vs. personal card issue
    • Who should get the loyalty points
    • Creating an effective review policy
  • 11:00 - 11:30 Common Expense Reimbursement Issues and How to Handle Them
    • Handling problems caused the traveler
    • Addressing problems raised by lack of management attention and review
    • Dealing with other reimbursement issues
  • 11:30 - 12:00 T&E Policy and Reimbursement Process Improvement Tips
    • Throughout the session: Several Mini T&E Process Case Studies: What Would You Do
  • 12:00 - 1:00 Lunch
  • 1:00 – 2:00 Creating An Efficient and Effective Travel Policy
    • Developing the basics of a strong policy
    • Building the travel and reimbursement policy framework
    • Effecting the reimbursement policy
    • Addressing the hotels, meals and travel policy
    • Creating an effective and efficient verification and review practices
  • 2:00 – 2:45 What Do Other Companies Like Yours Have in Their Policy
    • How other companies deal with add on services for transportation (seat upgrades etc.)
    • How other companies deal with lodging
    • How other companies deal with food and beverage reimbursements, including liquor
    • How other companies set tipping policies
    • How other companies deal with conflicts, complaints, and exceptions
  • 2:45 – 3:15 Dealing the Issues Created by Disruptive Services Including Uber, Lyft, Airbnb etc. [Note: This section is based on survey results of close to 400 companies]
    • What companies are doing (and not doing) regarding use of Uber, Lyft and other ridesharing/ride hailing services
    • What companies are doing (and not doing) regarding use of Airbnb and other P2P lodging services
    • What to look for when you see Venmo on an expense report
  • 3:15 – 3:45 Addressing the Headaches around Documentation and Receipts
    • Why the detailed meal receipt matters and should you get it
    • Who requires the detailed meal receipts
    • The problems with receipts scanned on smartphones
    • Checking all the documentation: Is it really necessary
    • Other documentary requirements
  • 3:45 – 4:00 Several Mini T&E Process Case Studies: What Would You Do
Day Two (8:00 AM – 12:00 PM)
  • 8:30 - 9:00 Greet, review previous day’s topics/answer questions
  • 9:00 – 10:00 Dealing with Expense Reimbursement Fraud
    • Why shenanigans hurt an organization
    • Problems solved by the detailed meal receipt
    • Other T&E frauds
    • Best practices to address employee game playing on expense reports
  • 10:00 – 10:30 Improving the Expense Report Approval Process
    • How best practice review process should work
    • How the review process works for many
    • Why don’t managers review effectively
    • Other review issues
  • 10:30 – 11: 00 Policy Compliance
    • The issue of uniform compliance
    • What goes wrong when compliance isn’t uniform
    • How to improve compliance
  • 11:00 – 11:30 Ethics, FCPA and T&E
    • An ethics policy
    • An explanation of FCPA and how T&E fits in
    • What to look for on an expense report when looking for bribes or other corrupt payments
  • 11:30 – 11:50 Mini T&E Fraud Case Studies: What Would You Do
  • 11:50 – 12:00 Concluding Remarks

Meet Your Instructor

Mary Schaeffer
Mary Schaeffer
Accounts Payable Best Practice Trainer, Writer/Content Creator, Consultant and Program Developer

Mary S. Schaeffer, a nationally-recognized account payable expert, is the author of 18 business books, a monthly newsletter, and a free bi-weekly e-zine, as well as several CPE courses for CPAs. She runs AP Now, a boutique publishing and consulting firm focused on accounts payable issues. She also serves as the Education Director for the Institute of Financial Operations. Before turning to writing and consulting she worked in the corporate world as an Assistant Treasurer for the Equitable Life Assurance Society, a Financial Risk Manager for O&Y and a Corporate Cash Manager for Continental Grain. A frequent and popular speaker at both live and online events, she has an MBA in Finance and a BS in Mathematics.

Location :
Los Angeles, CA (Venue to be announced shortly)

February 20-21, 2019
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$799

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February 20-21, 2019, Los Angeles, CA
(Registrations till November 30, 2018 - $799)
(Registrations after November 30, 2018 - $1299)

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