Expense policy template

Get started by downloading a free expense policy template from BILL. Take the first step toward smoother, stress-free expense management.

Why your business needs an expense policy template 

Managing business expenses can be a time-consuming and complex task. Without a clear and consistent policy, companies can often face issues like overspending, late reimbursements, and miscommunications. An expense policy template can help businesses streamline expense management by providing structured guidelines for both employees and managers. It ensures transparency, reduces confusion, and helps maintain financial discipline across the organization. 

The benefits of using an expense policy template 

• Saves time: With predefined guidelines, employees and managers can avoid back-and-forth discussions about reimbursable expenses. 
• Improves transparency: Clear rules help build trust by ensuring everyone is on the same page regarding expense policies. 
• Reduces errors: Detailed instructions reduce the likelihood of mistakes in submitting and approving expenses. 
• Boosts productivity: Employees spend less time worrying about administrative tasks and more time working towards business goals. 
• Ensures compliance: A comprehensive policy ensures all expenses align with company budgets and regulatory requirements. 

What to include in an expense policy 

Expense reimbursement process and guidelines 

Your expense policy should outline the process for submitting and approving expense claims, including timelines for submitting requests and reimbursements. Clear guidelines ensure that employees know exactly what steps to follow to get reimbursed promptly. 

Eligible expenses and categories 

Define which expenses are eligible for reimbursement, such as travel, meals, office supplies, or client entertainment. Categorizing expenses helps avoid ambiguity and sets expectations for employees and managers. 

Documentation requirements and submission procedures 

Specify the required documentation for every expense, such as receipts, invoices, or approval notes. Additionally, clarify how and where employees should submit expense reports, whether through an online portal, email, or accounting software. 

Download BILL’s free expense policy template 

Creating an effective expense policy from scratch can be daunting. That’s why we’ve done the heavy lifting for you! Our free expense policy template is designed to help businesses of all sizes implement an effective, easy-to-follow policy. Download it now and take the first step toward smoother, stress-free expense management.

How to create an expense policy 

Identify and involve key stakeholders 

Start by bringing together key decision-makers who understand the company’s budget, operations, and employee needs. Their insights will help shape a policy that aligns with business goals while addressing employee concerns. 

Determine expense limits and approval processes 

Establish clear limits for spending in each category to keep expenses within budget. Define an approval hierarchy to ensure all expense requests are reviewed appropriately before reimbursement. 

Communicate and train employees on the expense policy 

Once your expense policy is ready, ensure employees are aware of it and know how to follow its procedures. Use training sessions, email announcements, and accessible resources (like the company's intranet) to communicate the new policy effectively. 

Streamline your expense management today and empower your team by implementing a comprehensive expense policy. Our free template is your ultimate starting point—download it now and create a framework that can benefit both your employees and your business!