Question

What is meaning of reimbursement in accounting?

Answer 1

reimbursement refers to the paying back to the employees if they have used their own money/ expense for business related purpose.

Answer 2

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ʀᴇɪᴍʙᴜʀsᴇᴍᴇɴᴛ ɪs ᴄᴏᴍᴘᴇɴsᴀᴛɪᴏɴ ᴘᴀɪᴅ ʙʏ ᴀɴ ᴏʀɢᴀɴɪᴢᴀᴛɪᴏɴ ғᴏʀ ᴏᴜᴛ-ᴏғ-ᴘᴏᴄᴋᴇᴛ ᴇxᴘᴇɴsᴇs ɪɴᴄᴜʀʀᴇᴅ ᴏʀ ᴏᴠᴇʀᴘᴀʏᴍᴇɴᴛ ᴍᴀᴅᴇ ʙʏ ᴀɴ ᴇᴍᴘʟᴏʏᴇᴇ, ᴄᴜsᴛᴏᴍᴇʀ, ᴏʀ ᴀɴᴏᴛʜᴇʀ ᴘᴀʀᴛʏ. ʀᴇɪᴍʙᴜʀsᴇᴍᴇɴᴛ ᴏғ ʙᴜsɪɴᴇss ᴇxᴘᴇɴsᴇs, ɪɴsᴜʀᴀɴᴄᴇ ᴄᴏsᴛs, ᴀɴᴅ ᴏᴠᴇʀᴘᴀɪᴅ ᴛᴀxᴇs ᴀʀᴇ ᴄᴏᴍᴍᴏɴ ᴇxᴀᴍᴘʟᴇs.