1. Purpose
The purpose of this policy is to establish guidelines and procedures for the management and reimbursement of business expenses incurred by employees and authorized individuals on behalf of Company Name. It aims to ensure prudent financial management, compliance with Canadian tax regulations, and consistency in expense reporting.
- Policy Owner: Finance Manager
- Effective Date: 2025-06-17
- Last Reviewed: 2025-06-17
2. Scope
This policy applies to all full-time, part-time, contractors who incur expenses while conducting company business in Canada, Ontario.
- Applies To: Sales, Marketing, Executives
- Exclusions: Board members' travel expenses follow separate guidelines
3. Eligible Expense Categories
Eligible expenses include, but are not limited to:
1. Travel
- Airfare, train, taxi/Uber/Lyft, mileage at CRA-approved rate
- Parking, tolls
2. Meals & Entertainment
- Business meals and client entertainment up to $50 CAD
3. Lodging
- Hotel or Airbnb up to $200 CAD (higher with prior approval)
4. Supplies & Equipment
- Office supplies, computer peripherals, software subscriptions
5. Telecommunications
- Business phone, internet, and data charges
4. Approval Process
1. Pre-Approval
- Any single expense over $500 CAD requires written pre-approval from direct manager.
2. Submission
- Use Expensify to submit within the timelines below, attaching all required documentation.
3. Review & Audit
- Department Manager reviews for policy compliance; Finance validates tax treatment and accuracy.
5. Documentation & Compliance
- Receipts: Itemized receipts in CAD required for expenses over $25 CAD; electronic copies accepted if legible.
- GST/HST: Receipts must show GST/HST amounts for input tax credits.
- Submission Deadlines:
- Out-of-pocket: within 30 days of expense date
- Corporate card: within 15 days of statement date
- Reimbursement Timing: Processed within 10 business days of final approval.
6. Non-Reimbursable Expenses
The company will not reimburse:
- Personal or family-related expenses
- Alcohol and bar charges (unless pre-approved client entertainment)
- Fines, penalties, parking tickets
- Gifts over $100 CAD per recipient
- Expenses without valid receipts or submitted late
7. Policy Review
This policy will be reviewed annually by Finance Department. Updates communicated via Slack, email bulletin.