Creating and Managing Expense Policies
Last updated May 10, 2024
Introduction:
Setting clear expense policies in Brex ensures that your team spends responsibly while maintaining compliance. This article offers an overview of how to create and manage expense policies to align employee spending with company guidelines.
Steps to Create and Manage Expense Policies:
- Access Policy Settings:
- Log in to your Brex account and navigate to the dashboard.
- Click on "Settings" or "Admin" to access administrative options, then choose "Expense Policies."
- Create a New Policy:
- Click the "Create New Policy" button to start building a fresh policy.
- Provide a name and description that reflect the policy’s intended purpose or department.
- Define Policy Rules:
- Set rules and limits on categories like travel, meals, and miscellaneous spending.
- Specify required documentation for various expense types, such as receipts or detailed descriptions.
- Assign Policy to Teams/Departments:
- Assign the new policy to specific teams, departments, or individual employees.
- Ensure each group has access to the policy for adherence and awareness.
- Enable Automated Enforcement:
- Enable automatic policy enforcement to flag non-compliant transactions and request immediate resolution.
- Customize alerts to notify both managers and employees when expenses violate the policy.
- Regularly Review and Update Policies:
- Periodically review existing policies to ensure they're still relevant.
- Update rules as necessary to adapt to changing business needs and regulatory requirements.
By following these steps, your expense policies will effectively guide employees on appropriate spending while simplifying compliance management.
Was this article helpful?