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Employee Expense Policy Compliance checklist
Eligibility and Approvals
Verify that the employee is eligible to incur expenses as per company policy.
Check for proper authorization and approvals for the expense prior to reimbursement.
Ensure that the expense approval follows the hierarchy outlined in the expense policy.
Expense Documentation
Confirm that all expenses are accompanied by valid, original receipts or invoices.
Review that the documentation includes a clear business purpose for the expense.
Make sure that the date, amount, and nature of the expense are clearly stated.
Expense Types and Limits
Ensure expenses fall within the categories covered by the policy (e.g., travel, meals, lodging).
Check that the expenses do not exceed the prescribed limits for each category.
Verify that any exceptions are justified and properly documented with the required approval.
Timeliness and Accuracy
Review that expenses are submitted within the policy's specified time frame.
Check for accuracy in the expense calculations and the correct allocation to budget codes.
Ensure that currency conversions, if applicable, are calculated at the correct exchange rate.
Compliance with Tax Laws
Verify that the expenses are compliant with relevant tax laws and regulations.
Ensure proper documentation and receipts are maintained for tax audit purposes.
Confirm that taxable fringe benefits are identified and reported accordingly.
Reimbursement Procedures
Check that the reimbursement request is filled out completely and accurately.
Ensure that the payment methods and processing times align with the policy guidelines.
Confirm that the employee has provided appropriate banking details for direct deposits.
