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Any company with employees who incur expenses must have a solid policy in place to govern these costs. Even the organization that has just a handful of employees racking up expenses needs a guide to explain what is or isn’t reimbursable. By developing an expense management policy, and then adjusting it as needed as your company grows, you’ll be able to keep costs manageable while also keeping your employees engaged and productive.
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An expense policy is a formal set of guidelines that clearly outlines exactly what is and isn’t an approvable expense. It also helps the accounting department and/or approvers quickly decide whether an expense is reimbursable or not. This policy clearly outlines exactly when employees can expect to be reimbursed for their expenses (typically 30 days or less, depending on the company) and any recourse they have if an expense is rejected. One of the best ways to control employee spend is to implement an expense management policy that everyone in the organization will follow. That way, when an expense is rejected or questioned, your policy will serve as a standard for making final decisions on whether to reimburse the costs or not. An expense policy also:
This Policy contains the following sections: 1. Policy Statement 2. Objectives 3. Definitions 4. Scope 5. Travel Expenses 6. Minimizing Expenses 7. Non-Reimbursable Expenses 8. Procedure 9. Breaches of this Policy 10. Implementation |
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Jurisdiction |
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This Policy is intended for use in the United Arab Emirates. |
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Disclaimer |
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This policy template is meant to provide general guidelines and should be used as a reference. It may not take into account all relevant local, state or federal laws and is not a legal document. Kanoony will not assume any legal liability that may arise from the use of this policy. |
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Before Execution |
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- The information on this front page or contained in the headers and footers of this instrument are for guidance purposes only. - Please delete this front page together with the information contained in the headers, footers and the endnotes prior to circulating this letter. Where square brackets […] and highlights are used in the document, it indicates that there is missing or incomplete information which will need to be incorporated prior to signature. - Please remove the square brackets and all highlighting prior to signature. |
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