Take the pain out of company expense policy

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	Wednesday, February 20, 2013 Create An Expense Policy That Makes Sense When you empower your employees with an expense account,           you trust that they won't blow a few thousand bucks on a meal at Le           Bec Fin. Still, even a business with           the world's most ethical employees needs to keep expense spending           under control. A clear, unambiguous expense policy will keep everyone           on the same page and help prevent frustration, mistakes, and even the           risk of expense fiddling or fraud. Looking for a place to start? Concur's expense policy template (free to download) describes the structure and content of a best-practice expenses policy and includes sample language. Here are useful guidelines: Ditch the jargon. Your policy should be easy to read. The easier a policy is to understand, the easier it is for your employees to adhere to it. Make it fair. No one should have to pay out of pocket if they spend sensibly. Invite participation. If your team members help develop the policy, they'll be more likely to adhere to the rules and encourage others to do the same. Use sensible, localized rules. Sometimes you need to adapt to local requirements, such as higher hotel costs in more expensive cities. One good solution is a table of acceptable regional rates.   Want more tips? Download Concur's free "Taking the Pain Out Of Expenses" policy template for a thorough guide on creating your company's expense policy.                                                       Share the latest business news with your network: Share on Facebook Share on Twitter Share on Linkedin Share via email   The email address for your subscription is: alanrussell@princetoncap.com Manage your email preferences   |   Unsubscribe Business Insider RSS Feed   |   Terms of Service   |   Privacy Policy Business Insider. 257 Park Avenue South, New York, NY 10010