Our expense management program provides for the processing and tracking of all relocation expenses, whether paid directly to the employee or to the service provider on the employee’s behalf.
Our custom reporting has the flexibility to be categorized by customer, department, cost center, location, and service provided. In addition, the reporting can be designed to your requested format. Reporting can be provided to you on a monthly, quarterly or annual basis.
Our accounting department audits all paperwork received from either the employee, van line or other service provider participating in the relocation. Each charge is inspected to ensure that the proper documentation is included supporting the expense and that the expense has been approved by a company representative. The accounting department will also verify that the expense is a covered relocation cost under the company’s relocation policy. Typically, TRC pays for all approved services and will subsequently bill the company on a move by move basis or on a monthly basis at your request.
The Relocation Center will provide you with a breakdown as to which relocation costs are considered deductible by the IRS and which are taxable. We will then calculate your payroll-tax withholdings and year-end gross up adjustments according to your relocation policy. This information is reported directly to your payroll department, saving you time and money. Your employee will also receive a summary report with all the information they need to complete their personal tax returns, saving them unnecessary hassle.