The question was: Does everyone draw up their own cost statements and everything is compiled at the end or should everything run through a central office? We decided on a central office. Thus a treasurer was installed, who kept the overview and took over the lead with all finances.

In order to make flight and accommodation as cheap as possible, these two bookings were made first. The costs for this were paid via a private account and everyone transferred their share into this account.

Subsequently, the treasurer opened a joint account including credit card for the whole team. From then on the costs were taken over centrally. The expenses incurred in New York were briefly discussed on site by the team: When to pay by credit card and when to pay the costs privately.

For a later reimbursement of the costs at the tax office, the invoice receipts were collected from each individual and handed over to the treasurer. In the first step, the individual payment transactions were transferred by the treasurer to an Excel list and in the second step the costs were proportionally divided among the participants.

Back in Munich, a complete and comprehensive cost table was completed. A comparison of budget figures with actual figures was carried out with this overview. In this comparison, the calculated costs were compared with the actual costs incurred.

For the deductibility of the travel expenses incurred to the tax office in the respective tax return of a participant, a travel expense statement was prepared for each individual.

In this statement the company dates as well as the costs for flight, accommodation, taxi rides, public transport and cultural events are stored. This will then be submitted to the Munich Marketing Academy and verified with a signature as legally valid. Only with the signature is the travel expense statement a valid document for the tax return.

After completion of the cost summary, it can be stated that the budget has been adhered to.