When practicable, use OCV issued corporate credit card for business expenses. For corporate card charges:
- All expenses require a receipt (this is an IRS requirement)
- Recommended Practice: opt for a copy of the receipt to be sent to your OCV email so you can forward the receipt to the corporate card account directly
- Make sure to submit an itemized receipt, not the credit card payment total
- All transactions require a memo to document the business case (for accounting / expense classification purposes)
- For business meals or client meetings, please list the business purpose and the names of all participants in the memo
- In group outings, the most senior colleague should pay for the bill
- Employees are responsible for adding the receipt and memo in the corporate card system by each month-end
For out-of-pocket expense reimbursement, employees can submit an expense report through OCV’s payroll system. Employees must submit their receipts within 90 days of receipt date to receive reimbursement.
OCV’s Accounting Team will process expense reimbursement after Management review and approval. Expenses approved prior to the upcoming payroll processing date will be reimbursed on the following pay cycle.
All business travel needs to be pre-approved by the COO. Employees are expected to complete a pre-travel approval form with estimated total cost of the trip.
- OCV will cover work-related travel expenses. This includes lodging and meals during the part of the trip that is work-related. Depending on the distance of your travel, it can also include the day before and the day after work-related business. For example, if you are attending a 3-day conference in a jetlag-inducing location, the firm will cover your lodging and meals those 3 days as well as one day before and one day after.
- OCV will cover costs related to commuting to and from a destination or airport which is work-related. This includes public transit, ride-sharing services (Lyft, Uber, etc.), or personal vehicle mileage between one's home and airport, bus/rail station, or work-related meeting.
- Always bring a personal credit card and your corporate card with you when traveling for company business.
- If you incur any work-travel related expenses (on your personal card or company card), save the original receipt.
- When your trip is complete, please file out of pocket expenses for reimbursements in the payroll system. For company cards, please upload memos and receipts in the purchasing card dashboard.
- OCV can accommodate custom requests. It is OK to stay longer on your trip. However, the extra days will not be covered by the firm.