What does per diem mean? How to create a per diem expense policy

Definition Per diem meaning: A fixed daily allowance paid to employees to cover business travel expenses such as lodging, meals, and incidental costs. The term comes from Latin, where diem means “day,” making the full phrase translate to “for each day.” The world has become increasingly globalized, so it’s no surprise that business travel has become an even more essential component for many organizations that want to expand their reach and foster relationships. However, managing the financial aspect of these trips can get a little…