Table of contents
When your firm expands its services to include spend management, one area where you can advise your clients is in the creation of an expense policy.
Here's a template to help you begin that process.
Instructions
- Download this template
- Fill it out with your clients.
- Customize the content [within brackets]. Pro tip: CTRL + F will help you find all the brackets [ ] in the document.
- Add, remove, or change sections as you see fit based on your client’s needs
- Notify your employees of this policy and where they can find it.
Benefits of consulting on your client’s expense policy
The simple reason companies need an expense policy is to make sure employees are spending money on behalf of the company only on approved items. A good expense policy fulfills several goals:
- Saving your client money by preventing unauthorized spend: between the automations in BILL Spend & Expense and rules in the expense policy that cover any gray areas, there should be no question as to what can be authorized.
- Saving your client money by reducing expense reports/manual reconciliation: Spend & Expense reduces the number of reimbursements each month because spend occurs on the BILL Divvy card. Your client’s monthly spend can be quickly uploaded to your accounting software at the end of the month, and their expense policy will help ensure that any outlying expenses will be easy to track down and report.
- Clearly communicating policies and procedures: a successful expense policy makes it so your client and their employees are all on the same page about how and when to spend company money.
- Building trust between clients and their employees: when employees are clear on what is considered compliant spend, they will be empowered to make purchases on behalf of the company while also being responsible for documenting those purchases. This means employers can empower employees while still maintaining control of spend and expenses.
BILL and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on, for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors with any questions specific to your circumstances. BILL assumes no responsibility for any inaccuracies or inconsistencies in the content.
While BILL has made every attempt to ensure that the information contained in this site has been obtained from reliable sources, BILL is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied. In no event shall BILL, its affiliates or parent company, or the directors, officers, agents or employees thereof, be liable to you or anyone else for any decision made or action taken in reliance on the information in this site or for any consequential, special or similar damages, even if advised of the possibility of such damages.
