Expense Policy Workbook: Top Questions to Answer When Creating Your T&E Policy
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Expense Policy Workbook: Top Questions to Answer When Creating Your Travel and Expense (T&E) Policy
Transcript of Expense Policy Workbook: Top Questions to Answer When Creating Your T&E Policy
Expense Policy Workbook:Top Questions to Answer When Creating Your Travel and Expense (T&E) Policy
T&E represents 8–12% of the average
company’s total operating expenses,
and airfares and hotels are two of the
biggest expenses.
Why create a T&E Policy?
Your T&E policy can help your company achieve its top goals, whether that’s growing the business, making sure employees are satisfied or keeping costs in check.
T&E is often the second largest
controllable spend after payroll.
Payroll T&E
Why create a T&E Policy?
Your policy should help not only your business, but your employees make smart spend decisions.
Help your employees by making your policy:
• Fair for all
• Easy to understand
• Easy to find
Clearly outline what you reimburse
Baggage Checking
Advanced-Seat Bookings
Parking
Tips
Laundry Service
Travel Insurance
In-Room Movies
Travel:YES NO
Taxis
Uber
Bus Passes
Personal Car Mileage
Parking Fines
Parking
Does public transport take precedence over taxis vs. personal cars?
If so, when? Do you encourage use of sustainable transportation?
YES NO
Clearly outline what you reimburse
Travel:
IRS standard deduction: 56 cents per mile for business miles driven
Professional Memberships
Networking Event Fees
Conference Fees
Business Cards
Company-Branded Clothing
YES NO
Clearly outline what you reimburse
Entertainment:
Office Happy Hours
Birthday Cakes for Coworkers
Birthday Cards
Thank You Cards
Postage
YES NO
Clearly outline what you reimburse
Entertainment:
What about meals?
• What’s the limit amount per meal while traveling?
breakfast: ____ lunch: ____ dinner: ____
• Do you include alcohol?
• Room service?
• Networking meals?
YES NO
YES NO
YES NO
Timing is everything!
When should employees book travel?
• As soon as possible
• One week before travel date
• Two weeks before travel date
Is pre-approval needed before employees book travel (like flights/hotels) or only if over a certain value?
Airfares and hotel
What range of airfares and hotel categories are acceptable? For airfare, lowest logical or cheapest? For hotels, standard or premium?
What class of travel can employees book?
• Coach
• Business
• First
Do you have preferred suppliers?
$ Introducing TripLink:Not sure how to answer these questions? TripLink can help by suggesting a price to beat.
YES NO WHO: _____________
Now that you have a few policy questions answered, learn more about how to create a T&E policy that works for all.
Take a test drive of Concur to see how you can embed your policy directly into your expense management software.
Toss away that paper and move to the cloud!
Conclusion
Ready to start saving?Sign up for Free 30-day trial of Concur Expense and get started today.
Concur is a leading provider of integrated travel and expense management solutions. By capturing and reporting on every aspect of T&E spend, Concur’s services provide detailed information to help clients effectively negotiate with vendors, create budgets and manage compliance. Trusted by businesses of all sizes in more than 100 countries, Concur’s on-demand services process over $50 billion in T&E spend a year—equal to roughly 10 percent of the world’s T&E spend.
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