We speak to many small business owners that say they need greater control over what their staff are claiming for on expenses but don’t know where to start. The answer is simple – a travel and expense policy. A policy governs what can be reimbursed, at what rates – and most importantly what can’t. Many businesses start off with informal rules passed on like a game of broken telephone, believing (or hoping) that employees will make sensible decisions. But that puts pressure on your staff who are left to second guess right from wrong.
A £50 bottle of Prosecco?
That’s simple sales entertaining, right? What may seem acceptable to one business, could be senseless spending to another and it’s hard to tell where to draw the line. Then there’s the dilemma of different rules for different folk. Some departments may get away with excessive expenses while others feel the pressure to control their costs? Is it fair?
What will a travel and expense control?
For any business looking to introduce fair rules and processes around what employees can reclaim, a travel and expense policy is your first port of call. Here’s some details around what a good policy of this type will contain.
The rate of reimbursement for business mileage travelled by car
The maximum amount you can reclaim for train travel and what class you can travel
How much you can reclaim for breakfast, lunch and dinner while on business
The maximum price of a hotel stay depending on the city you’re in
If there are preferred methods of booking business travel such as a corporate booking tool (you may have negotiated rates)
Every business will have different requirements and unique situations that call for different costs that are incurred. For that reason, you’ll be best placed to stipulate what the parameters are. The problem is that many companies don’t have a framework in place giving guidance to employees. Where do you start?
Create a travel and expense policy in a few clicks
That’s why we built this simple travel and expense policy creator for you. All you have to do is input your rules in a few categories to create a customised policy for your business. You can then edit it as you see fit. It’s a starting point to get a workable document you can then use to create a common understanding around what can be spent on behalf of the business. And if you already have a policy, you can use it to ensure you are up to date with some of the latest rules and you have all the boxes checked. There are just six questions and it will take about three minutes to complete. What you’ll get is a fully customisable expense policy template that you can edit and make your own. No strings or obligations – and we won’t record your answers, so it’s yours to use. Lara Edwards is content manager for marketing SMB at Concur.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.