Definition

Paying attention to borrowing and paying back money on time. Good habits here can improve your chance of getting loans at better rates.

What to consider

  • Establish clear reimbursement policies.
  • Verify all expenses submitted.
  • Ensure reimbursements are processed promptly.

Real world scenarios

  • An employee submits detailed receipts for travel expenses after a business trip.
  • A company uses an online portal to process reimbursement claims quickly.
  • A startup streamlines expense reimbursement by automating approval processes.

Related terms

Entrepreneurial Finances