As we look forward to National Conference, Finance wants to remind everyone of the expenses related to the conference. Some of the expenses which you may incur are: airfare, mileage, lodging, conference fees, meals, etc. Expenses which are not reimbursable are: tours, sightseeing, souvenirs, gifts, child related items, personal incidentals, toiletries, etc. Now let’s get into the details regarding these expenses and how to account for them. When you register for the conference, the easiest way to handle the fees is to use your ministry account by providing your project number. When you do this Finance will simply charge those expenses directly to your account and you need not do anything else. However, if you choose to pay using a credit card, check or cash, you will need to submit those expenses for reimbursement. Please be sure to use a separate form for National Conference expenses and indicate in the email subject line and the reimbursement description line “National Conference Expenses” so we will know to charge your escrow account for these expenses.
When registering with a credit card and/or paying for expenses prior to attending the Conference (such as airfare) remember that they should be reimbursed within 60 days of incurring the expense not 60 days of using the item purchased. For example: if you purchase a plane ticket in Jan for the conference in June, you have until the end of Feb to submit it for reimbursement. This year is not a family conference. Therefore, the expense of bring a child with you to conference is not a ministry expense. Neither is the cost of providing childcare while you attend the conference. If it were up to us we would allow it, however, the IRS is very specific regarding this. The only exception to this rule is if your child is fifteen or older and has registered as a conference attendee to learn about doing ISM alongside you and your spouse. ISI established many years ago that your spouse, whether an employee or not, is an integral part of your ministry and thus if they register and attend the conference their expenses are covered as well. We’ve had to take a closer look at all our reimbursements with the increased scrutiny we have experienced recently in the new audit environment. As a result of this increased scrutiny we may require additional documentation (such as itemized meal receipts) in order to verify that the entire expense is business related. We want to assist you in getting maximum benefit of expenses related to the conference so if there is any question or doubt about an expense please comment below or send us a separate email. We really don’t like to disallow items when you have spent the money in good faith expectation that it is for ministry.
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AuthorSheldon Jantz, Senior Accountant with ISI. I have been doing accounting with ISI for 20 years. Archives
December 2018
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