What expense category does business travel come under?
There is no definitive answer to this question, as the correct expense category for business travel will vary depending on the business and the type of travel being undertaken. However, some common expense categories for business travel include:
This is the most obvious category for business travel expenses, as it covers the cost of getting to and from your destination. This could include airfares, train tickets, taxis or Uber fares, and rental cars. If you are using your own vehicle, you may also be able to claim back fuel costs and tolls.
If you are travelling for business, you will likely need to book accommodation. This could be a hotel room, an Airbnb, or even just a few nights in a serviced apartment. Remember to keep receipts for all accommodation bookings so you can claim them back.
Meals and Entertainment
When travelling for business, you may also need to budget for meals and entertainment. This could include business lunches or dinners, as well as any entertainment expenses incurred while networking or attending business events. Again, make sure you keep all receipts so you can claim these expenses back.
There are a few other miscellaneous expenses that you may need to budget for when travelling for business. These could include things like laundry, dry cleaning, internet access, and tips. Keep all relevant receipts so you can claim these back as well.
As you can see, there are a few different expense categories that business travel can come under. The best way to ensure you claim all relevant expenses is to keep track of all receipts and bookings, so you can categorise them correctly when it comes time to do your expenses report.