travel expenses

Travel expenses refer to the costs incurred when an individual or business travels for work or personal reasons. These can include transportation (like flights, trains, or car rentals), lodging (hotels), meals, and other related costs such as taxi fares or travel insurance. For businesses, tracking these expenses is important for budgeting and tax purposes. Generally, travel expenses are necessary for activities like meetings, conferences, or site visits. Proper documentation, such as receipts and itineraries, is essential to justify these costs and ensure accurate financial reporting.