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Terms of return of unused funds issued for business trips

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Sakharuk Anatolii
Sakharuk Anatolii
Lawyer
Ukraine / Kyiv

i

Reading time: 7 minutes Total views: 106
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Publication date: 28.05.2024

Terms of return of unused funds issued for business trips

Introduction

 

Business trips are an integral part of the professional activities of many employees. During the business trip, employees perform official duties outside the main place of work, and for this they are given an advance to cover expenses. However, there is often a question about how and when the employee must return the unused amount of funds issued for the business trip. Correct compliance with these deadlines is important not only for the employee, but also for the employer, as incorrect processing or late refunds can lead to financial and legal problems.

 

Main part

 

Legislative regulation

 

In Ukraine, the procedure and deadlines for the return of unused funds issued for business trips are regulated both by internal regulatory acts of enterprises and by general rules established by legislation. According to Clause 11 of Section II "Instructions on business trips within Ukraine and abroad", approved by the Order of the Ministry of Finance of Ukraine 

 

An employee who has returned from a business trip must submit an advance report on the use of the funds provided for the business trip to the accounting department no later than three working days after the end of the business trip and return the unused amounts.

 

This means that the employee must prepare an advance report on the use of funds issued for the business trip and return unused funds or electronic money to the accounting department of the enterprise within three working days after the end of the business trip. You may be interested in the following articles: lawyer's consultation, lawyer's consultation, document analysis, legal analysis of the situation, written consultation, document review by a lawyer, lawyers' documents, lawyer's help online, lawyer online, legal opinion, lawyer's legal opinion, lawyer online.

 

Refund procedure

Preparation of an advance report: After returning from a business trip, the employee prepares an advance report in which he notes all expenses incurred during the trip. Supporting documents are attached to the report: checks, receipts, invoices, etc.
Return of unused funds: Together with the advance report, the employee returns unused funds. It can be both cash and electronic money, depending on the form of the advance received before the trip.
Verification and approval of the report: The accounting department of the enterprise verifies the advance report and supporting documents. If the report is completed correctly, the report is approved, and the employee receives confirmation of the closing of the advance account.

 

Liability for breach of deadlines

 

Failure to comply with the established deadlines for submitting an advance report and returning unused funds may have negative consequences for the employee. The legislation of Ukraine provides for liability for violations of financial disciplines, which may include disciplinary measures from the employer, as well as financial sanctions. In addition, a delay in refunding can affect the company's tax reporting, which can also lead to penalties from the tax authorities.

 

Example of terms

If the employee returned from a business trip on Monday, he must submit an advance report and return unused funds by Thursday of the same week.
If the employee returned from a business trip on Friday, he must submit an advance report and return unused funds by Wednesday of the following week.

 

Conclusion

The employee is obliged to return the unused amount of funds or electronic money issued for the business trip no later than three working days after the end of the business trip, together with the submission of an advance report to the accounting department. This term is a general rule, but specific internal regulations of the enterprise may establish additional requirements or clarifications.

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