The guide is designed to help founders write their first expense policy. It covers the main spending categories and provides detailed information on the limits and approvals that suit each. It offers practical advice on how to set rules that people actually follow, including receipt requirements, card limits and reimbursement timelines. The guide also touches on scenarios where you don't need a finance team to enforce the policy, such as automatic card limits and receipt reminders.
Key takeaways
- The guide provides a clear overview of what a first expense policy should cover, including travel, software, meals and equipment, and explains how to set sensible limits for a small team.
- It emphasizes the importance of making rules easy to follow and offers practical steps to enforce them, highlighting options like Corporate Card limits that apply automatically at the point of purchase.
- Outlines the process for collecting receipts and approving expenses each month, serving as a simple routine that keeps the books clean before the first audit.
Who will benefit from this guide?
This guide is aimed at founders and early finance leads who want to bring order to company spending, including teams still reimbursing receipts by email, those handing out their first company cards, and those moving from a spreadsheet to a platform like the Starter Plan. It's also useful for those preparing for a first audit, a funding round, or a move to the Team Bundle.
What's included
- Policy outline: Understand which categories and limits to include so your policy fits the way your team really spends
- Enforcement tips: Discover strategies to boost on-time receipts and approvals without chasing people
- Real examples: Gain insights from growing teams that rolled out a policy to guide your own rollout
