Reimbursement Policies

Reimbursement Approval Policies

Reimbursement Approval Policies allow you to define how reimbursement reports are routed for approval. This process can be customized based on the teams involved, the amount being requested, and the specific requirements of your organization.

Creating a Custom Reimbursement Approval Policy

Custom reimbursement approval policies are only available to Professional and Enterprise customers.

How to create custom reimbursement approval policies:

1. Navigate to Settings > Approval Policies > Reimbursements
2. Click "+ Add Approval Policy" in the top right corner > a pop-up appears on the right of the screen
3. Input a policy name (e.g., Travel Expenses), add a description, and assign the policy to a team
4. Add approvers
   • The first approval step defaults to reimbursements starting from $0. You can add additional levels that apply conditionally based on the reimbursement amount. For instance, you can add a secondary approver for reports exceeding $100.
   • Click “Add Level”, set the amount threshold, and select one or more approvers for that step.
5. Click "Create" 
6. When a user submits a reimbursement report, it will follow the approval flow set up in your policy

Editing the Default Reimbursement Approval Policy 

The Default Reimbursement Approval Policy is automatically applied to users in Float. Professional and Enterprise customers have the Default policy and can also create custom reimbursement approval policies.

Please note that Essentials plan customers are limited to this one editable reimbursement approval policy. 

How to edit the default reimbursement approval policy

1. Navigate to Settings > Approval Policies > Reimbursements > Default Personal Reimbursement Policy
2. Click "Edit" under the Action column 
3. Add approvers following the same steps as above for custom approval policies
4. Click "Save"

Please note that edits to approval policies only apply to new reports submitted after the changes to the policy were applied.

Reimbursement Submission Policies

You will need to create submission policies for users to define how employees submit reimbursement requests. You can configure submission requirements such as receipt capture, GL codes, custom fields, and tax codes.

Please review the information below to learn how to set up your Personal & Mileage Reimbursement Submission Policies.

Personal Reimbursement Submission Policy

You can create custom reimbursement submission policies for out-of-pocket expenses made by employees. You can customize policies for specific teams to require items such as receipts, descriptions, and GL codes.

Users should only use this policy for expenses that aren't business-related travel on personal vehicles. We have a separate Mileage Policy for users to submit reimbursement requests for travel-related expenses.

Please note: Custom submission policies are only available to Professional and Enterprise plan customers. Essentials plan customers have one default personal reimbursement submission policy that can be edited.

How to edit your Default Personal Reimbursement Policy:

1. Navigate to Settings > Submission Policies > Reimbursement Policies > Default Personal Reimbursement Policy
2. Select the policy to edit it > enter the required items you want users to include > click Save Policy
3. Users will be defaulted to this submission policy when they submit a request

How to set up Custom Personal Reimbursement Policies (Professional Plan Only):

1. Navigate to Settings > Submission Policies > Reimbursement Policies > click Create New Reimbursement Policy
2. Give the policy a name and description, and choose what you want to be required when a user submits a report (i.e., Receipts, Descriptions, GL Codes) > click Save Policy
3. Users can now select between the custom submission policies when submitting requests

We recommend including the team name in the Submission Policy Name for any custom reimbursements policies if you want specific teams to use that policy. This helps users know which policy to select when they submit a report.

Default Mileage Submission Policy

This policy is for all mileage expenses for business-related travel with personal vehicles. 

For users to be able to submit mileage reports, Mileage must be enabled within your Reimbursement settings. You will also need to set up rates. Please review our Help Centre article below for instructions on enabling mileage for reimbursements:

Configuring Mileage for Reimbursements

How to edit your Default Mileage Policy:

1. Navigate to Settings > Submission Policy > Mileage Policies > Default Mileage Policy
2. Select the policy to edit it > enter in the required items you want users to include
   1. • Attachments
      • Decsribe the Trip
      • Apply GL codes
      • Custom Fields
3. Click "Save Policy"
4. Users will be defaulted to this submission policy when they submit a mileage request

How to create a Custom Mileage Policy (Professional Plan Only):

1. Navigate Settings > Submission Policy > Mileage Policies
2. Click "Create New Mileage Policy"
3. Input a name and description for the policy
4. Select the required items you want users to add when they submit the report
5. Click "Save Policy"

We recommend including the team name in the Submission Policy Name for any custom reimbursements policies if you want specific teams to use that policy. This helps users know which policy to select when they submit a report.

Important Information on Approval & Submission Policies

• Multiple Approval Policies: Float's Professional and Enterprise plans allow multiple approval policies. Essentials plan users can only use one editable policy.
• Policy Changes: Updated approval and submission policies will apply to new reimbursement reports. Reports created before the changes will not be affected.