Expenses Policy

Hi All,

 

I'm currently trying to create an expenses policy for my business - can anyone recommend or offer me guidelines with regards to applying max costs etc. Current expenes include car hire, flights, hotel, dinner etc.

 

Any help is greatly appreciated.

 

 

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  • I know I'm late to the party on this one however I have just joined and wanted to share my insights.

    we originally had a policy that stated specific amounts for example £75 for a hotel etc we found everyone was booking the £75 hotel and not the £55 hotel because we had told them that they could book a £75 hotel. We changed the 'rules' to a one liner do what is right for the business and treat it like your own money.

    we created rules around when breakfast/lunch and dinner could be claimed however we took away the 1 glass of wine stipulation. They are adults so if they want a cheaper meal and 2 glasses of wine why not :)

    we found that expenses went down and people acted responsibly 

  • Hi Diane,

    I hope you are well.

    My thoughts on this would be to ensure the policy clearly states that expenses will only be reimbursed if they are charged, and can be traced directly, back to a job / client and the expenses are reasonable given the circumstances. Expenses should also be approved by either one’s line manager or head of department (depending on the employee’s level within the organisation, it may make more sense for a head of department to approve expenses).

    I think the above provides reasonable measures to prevent any serious abuse regarding expenses.  

    Hope the above is useful for you.

    Soheil

    • Thanks for your response, Soheil.

       

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