5. Explain how reimbursement is done
For your employees, the most important thing is that they are reimbursed for their business expenses. So explain how your company does this.
The approval process. Be clear about the steps employees need to go through in order to have their application approved. You can work with different levels of approval. Based on the amount of the expense, for example.
❯ Expenses under €50 could be immediately ‘approved’ in your claims and justification process. Under the condition that the submitted claim is complete.
❯ Expenses between €50 and €500 could be approved by a manager or treasurer.
❯ And amounts above €500 must be approved by the managing director. Or even the VP, if unforeseen amounts are involved.
Deadlines. Determine the time frame within which a claim must be submitted, and communicate how long it will take the company to reimburse the spent amounts. This way employees know when to expect the refunds in their bank account.
Lost receipt? What if someone can no longer find their receipt? In that case, many companies allow their employees to create a receipt themselves, based on a certain template. If you also want this for your company, be sure to set clear rules for this process. And decide ahead of time who signs for approval.