What is an odometer?

In the context of travel and expense management, an odometer refers to the instrument used to measure the distance traveled by a vehicle. It provides a numerical reading of the total miles or kilometers accumulated. This measurement is crucial for accurately calculating and reimbursing mileage expenses.

🔑 Key Points:

• Ensures accurate mileage reimbursement.

• Supports policy compliance with start/end readings.

• Often digitally integrated for efficiency.

• Vital for expense record-keeping and audits.

Example:

John, a sales representative, uses his personal car for client visits. Before starting his trip, he records his car's odometer reading: 50,000 miles. After visiting three clients, he records the ending odometer reading: 50,150 miles. He then submits an expense report with the 150-mile difference, along with the company's approved mileage rate, to calculate his reimbursement. The company then verifies the odometer readings, and approves the reimbursement.