Transaction import from Wells Fargo paused. Please visit our status page for more details and to subscribe to updates.

Deep Dive: Best practices for reimbursing reports

Christina DobryzynskiChristina Dobryzynski Expensify Success Coach - Admin, Expensify Team Posts: 204 Expensify Team
edited October 7 in Deep Dive Docs

Before we dive into best practices, it's important to note onlyPolicy Admin who has added a business bank account to their Expensify account will be able to reimburse employees.
 
There are three primary options when it comes to Expensify reimbursements. 
  1. Direct reimbursement - Expensify helps create a reimbursement batch payment (ABA) file for external reimbursement
  2. Indirect reimbursement - Reimbursements are initiated and completed outside of Expensify
  3. Reimbursement outside of Expensify - Employees are never reimbursed for expenses
Direct reimbursement is available for US and Australian businesses. Indirect reimbursement is available for all US and international businesses.  

Best Practices 

  • Plan ahead! Consider the possibility that the one policy admin who is a reimburser might be sick at the end of the month or perhaps on a four-week honeymoon to Hawaii and someone else will need to be able to reimburse employees. Make sure the policy admin shares the business bank account with at least one other policy admin. 
  • Get in the routine of having every new employee connect a Personal Bank Account to his/her Expensify account. This will ensure there is no delay in getting reimbursed. 
  • Understand there is a verification process when sharing a business bank account. The new reimburser will need to have access to the business bank account transaction history (or access to someone who has access to it) so they can verify 2 deposits and 1 withdrawal that Expensify will send to verify the account. 
  • Consider setting up automatic reimbursement. With this configured, reports below a certain threshold (defined by you) will be automatically reimbursed via ACH as soon as they've been Final Approved!
  • Notify employees to look at the comments at the bottom of a report, or the Next Step section at the top of a Reimbursed Report to find the details of when they can expect a direct reimbursement. 



Related Articles:

Tagged:
Sign In or Register to comment.