Financial Procedure Documentation

Employee Reimbursement Processing Procedure at BASF

Objective:

To establish a clear and efficient process for submitting, approving, and processing employee reimbursements at BASF.

Step-by-Step Procedure

Step 1: Submission Guidelines

1. Eligibility: Ensure that the expense is eligible for reimbursement according to BASF’s reimbursement policy (e.g., travel expenses, work-related supplies).

2. Documentation:

   • Collect all necessary documentation, including:
     • Original receipts (must be itemized).
     • Proof of payment (credit card statements, bank statements).
     • Any relevant invoices or contracts.
   • Ensure that the expenses are within the allowable limits set by BASF.

3. Reimbursement Form:

   • Complete the BASF Employee Reimbursement Form.
   • Include:
     • Employee name and ID.
     • Department.
     • Date of expense.
     • Description of the expense.
     • Amount being claimed.
     • Purpose of the expense.
   • Attach all supporting documents to the form.

4. Submission:

   • Submit the completed reimbursement form and supporting documents electronically via the BASF expense management system or email to the designated finance department email address.
   • Ensure submission is made within 30 days of incurring the expense.

Step 2: Approval Workflow

1. Initial Review:

   • The finance department will conduct an initial review of the submitted reimbursement request for completeness and compliance with BASF policies.

2. Manager Approval:

   • The request will be forwarded to the employee’s direct manager for approval.
   • The manager will review the expense for validity and relevance to the employee’s role.
   • The manager must approve or deny the request within 5 business days.

3. Finance Department Review:

   • Once approved by the manager, the finance department will conduct a final review to ensure all documentation is in order and that the expense complies with company policies.
   • If any discrepancies are found, the finance department will contact the employee for clarification or additional information.

4. Final Approval:

   • After the finance department’s review, the reimbursement request will be processed for payment.
   • If denied, the employee will receive a notification explaining the reason for denial.

Step 3: Timelines

1. Submission Timeline:

   • Employees must submit reimbursement requests within 30 days of the expense date.

2. Approval Timeline:

   • Manager approval: 5 business days.
   • Finance department review: 3 business days after manager approval.

3. Payment Processing:

   • Once approved, reimbursements will be processed within the next payroll cycle (typically within 2 weeks).
   • Employees will receive notification of payment via email.

Additional Notes

• Follow-Up: Employees can follow up on the status of their reimbursement request by contacting the finance department after the approval timeline has elapsed.
• Policy Review: Employees are encouraged to review the BASF reimbursement policy regularly to stay updated on any changes.
• Training: BASF will provide periodic training sessions on the reimbursement process to ensure all employees are familiar with the guidelines and procedures.

By following this procedure, BASF aims to ensure a smooth and efficient reimbursement process for all employees.