Download: Travel Policy Template

A clearly defined expense policy eliminates confusion and fraud.

When building your policy, remember it exists to keep spending at a level that’s right for your business. To eliminate confusion, provide examples of allowable and non-allowable expenses.

Setting these clear guidelines is the first part of creating a (nearly) foolproof policy. The second part is communicating and implementing it.

A few tips for a successful policy:

Involve stakeholders in the process—striking a balance across their varying needs increases your chances of adoption and better serves your business as a whole
Keep it updated—if you haven’t updated your policy in two years or so, it’s probably outdated
Don’t be too vague—employees’ varied backgrounds and values can lead to drastically different interpretations of a vague policy
But still keep it simple—the longer and more nuanced your document, the more likely employees are to skim over it or ignore it all together

Download and customize TravelBank's white-labeled travel and expense policy.