Expense Reimbursement Process

Expense Reimbursement Process

Expense Reimbursement Process

The Expense Reimbursement Process is a crucial part of BEC Arabia's Project HR Administration. It ensures that employees are reimbursed for any out-of-pocket expenses incurred during the execution of mega projects. This process supports BEC Arabia’s objectives for professionalism, efficiency, and compliance by ensuring transparency and accountability in financial transactions.

Process Steps

1. Expense Incurrence: The employee incurs a business-related expense and keeps the receipt.

2. Expense Report Submission: The employee fills out an expense report form, attaching all relevant receipts.

3. Manager Approval: The employee's manager reviews and approves the expense report.

4. Finance Department Review: The Finance Department reviews the approved expense report.

5. Reimbursement: If approved by Finance, the employee is reimbursed through their next paycheck.

Compliance and Regulations

This process aligns with KSA laws, BEC Arabia’s internal compliance policies, and international construction standards. It ensures:

• Compliance with KSA's labor laws regarding employee reimbursements.

• Adherence to BEC Arabia’s internal policies on financial transparency and accountability.

• Alignment with international standards for financial management in construction projects.

Metrics and KPIs

Key Performance Indicators (KPIs) for this process include:

• Reimbursement Time: The average time taken from expense report submission to reimbursement.

• Compliance Rate: The percentage of expense reports that comply with BEC Arabia’s policies and KSA laws.

• Discrepancy Rate: The percentage of expense reports with discrepancies or issues.

Collaboration

This process involves collaboration between the employee, their manager, and the Finance Department. Responsibilities include:

• Employee: Incurs the expense, keeps receipts, and submits the expense report.

• Manager: Reviews and approves the expense report.

• Finance Department: Reviews the approved expense report and processes the reimbursement.

Additional Notes and Templates

• Always keep your receipts when incurring business-related expenses.

• Use the provided expense report form to submit your expenses.

• Ensure your expense report is accurate and complete before submission.

• Refer to BEC Arabia’s Expense Policy for more information on what expenses are reimbursable.