Fiduciaire au luxembourg, domiciliation société et sociétés coquilles

The system of expense accounts represents an interesting alternative to the keeping of cash books.

Expense accounts also called expense allowances are plans under which companies reimburse business-related expenses incurred by employees in one go, by the manager and/or director.

Example of expenses: postage expenses, restaurant vouchers, slip for supplies, parking expenses…

Generally, expense accounts are monthly drawn up as mentioned below:

• To draw up a statement about the date, nature and the amount of each expense. We have at your disposal examples of such statements on Excel.
• To staple/stick on a sheet of paper all relevant documents according to the category (all restaurant vouchers (separate expenses spent in the country or abroad) parking expenses, various expenses…

Expense accounts record also kilometres incurred with a personal car on the company’s behalf. For reminder, mileage information for areas travelled can easily be calculated via Internet sites like www.mappy.com

The reimbursement rate per kilometre is generally fixed on a yearly basis according to the type of vehicle. To know the rate, contact the manager in charge of your file.

Notice: in the case of a set price per kilometre, the real charges relating to the vehicle are not recorded on the expense accounts and are not deductible as professional expenses.

Expense accounts shall be reimbursed by the bank, or cash.

Very important notice: to avoid duplication in accounting, expenses done by a company’s credit card are not registered on the expense accounts.