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Expense Policy Workbook: Top Questions to Answer When Creating Your T&E Policy

Here's a simple workbook to help you begin the creation of your company's Travel and Expense (T&E) Policy.

Looking for more advice on how to create a T&E Policy that works for all? Check out this ebook:

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Expense Policy Workbook: Top Questions to Answer When Creating Your T&E Policy

  1. 1. Expense Policy Workbook: Top Questions to Answer When Creating Your Travel and Expense (T&E) Policy
  2. 2. 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
  3. 3. 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
  4. 4. Clearly outline what you reimburse Baggage Checking Advanced-Seat Bookings Parking Tips Laundry Service Travel Insurance In-Room Movies Travel: YES NO
  5. 5. 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
  6. 6. Professional Memberships Networking Event Fees Conference Fees Business Cards Company-Branded Clothing YES NO Clearly outline what you reimburse Entertainment:
  7. 7. Office Happy Hours Birthday Cakes for Coworkers Birthday Cards Thank You Cards Postage YES NO Clearly outline what you reimburse Entertainment:
  8. 8. 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
  9. 9. 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?
  10. 10. 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: _____________
  11. 11. Now that you have a few policy questions answered, learn more about how to create a TE 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
  12. 12. 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 TE 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 TE spend a year—equal to roughly 10 percent of the world’s TE spend.