What is an expense policy template?

An expense policy template (also sometimes called an expense reimbursement policy template) is a document that helps you format your expense policy. 

Our free downloadable template is pre-formatted and pre-populated with all of the necessary components. It includes the guidance you need to build a policy that suits your company’s unique needs (and keeps those extra large popcorn orders off your employees’ expense reports).

What’s included in this download?

This download includes an easy-to-use expense policy template (free!) that’s perfect for anyone who’s modernizing their expense policy using manual processes or  automated expense management software. This template provides ready-to-use information to help your employees navigate business expenses and reimbursements with ease. 

The template includes pre-populated sections that address:

• Stakeholder responsibilities (team members, managers/budget owners, and finance department)
• Expense approval limits
• Purchase processes 
• Corporate card processes
• Employee reimbursement processes
• Receipts and other required documentation
• Eligible company expenses and reimbursement processes 
• Travel expense information and reimbursement processes 
• Employee stipends and reimbursement processes 
• Out-of-policy expenses

Why a company expense policy is important

Company expense policies are essential for managing cash flow. They provide clear  guidelines designed to align employees, managers, and the finance department eligible reimbursements. Well-planned expense policies lead to: 

• stronger financial controls
• easier and faster month-ends
• better employee experiences
• increased compliance and tax readiness
• smarter purchasing choices (for employees)
• decreased admin burden

How to use this expense policy template 

Creating policy documentation can be time-consuming—mapping out everything you need, gathering input from stakeholders, and formatting it—and that’s all before you even start writing the policy!

Luckily, this template makes creating your company expense policy simple! With this template in your toolkit, you can feel confident that your employees have the information they need to make informed purchasing decisions while knowing your finances are still in order. 

So how do you use the template? We break it down into six easy steps. 

Step 1: First, go through and delete any sections that don’t apply to your company. Don’t want to reimburse entertainment expenses? No problem! Take it out. This can come in handy if you need to use this to create something more specific, like a travel expense policy template.
Step 2: Have a look at each set of instructions and customize them based on your own expense policies. For example, under “Company Expenses,” the “Invoices and Bills” section reads:

Some company expenses cannot be paid with a card. In those cases, forward your invoice to the finance team [INSERT EMAIL ADDRESS]. Include a basic overview of the expense, and we’ll review your request. If your invoice is approved, we’ll process your payment, and it will be reimbursed on your next pay. 

Note: If you intend to make a purchase without using your corporate card, speak to your manager and request approval before making the purchase.

Changes might include updating the email address where invoices should be sent, specifying required documentation, or customizing the preapproval process.

Step 3: Scroll down to the Expense Policies section and update the tables based on your company’s expense policy.

Step 4: Review everything carefully to ensure that everything has been updated and no default information has been left behind (unless you left it there on purpose). 

Step 5: Send it out to your employees.

Step 6: Schedule regular intervals to review your policy and make changes

Ready to get started? Download your free Company Expense Policy Template free of charge.