What is reimburmsement?

Answer 1

Reimbursement is the process of compensating an individual or organization for expenses they have incurred on behalf of another party. This often occurs in business contexts, where employees are reimbursed for travel, supplies, or other work-related costs. The reimbursement process typically involves submitting receipts or documentation to validate the expenses. Once approved, the reimbursements are processed, and the individual receives the funds back.