TravelBank Launches WFH Expense Policy to Help Companies Control and Reduce Operating Costs

TravelBank is committed to helping businesses better manage their corporate travel and expenses. At current, that means helping our customers adjust travel plans and control spend while powering their employees to productively transition to the new remote work norm.

With our customers current needs in mind, we are launching a new feature to support work from home expense policies within the TravelBank app, making it simple for finance admin to create new expense policies, communicate guidance to employees, and reconcile the associated spend. For your remote workforce, tracking business expenses is stress-free and reimbursements get back to them in as little as 24 hours.

What’s New?

Companies can now request to create a custom work from home expense policy with TravelBank. This policy will be communicated to employees in-app so they know exactly what they can and cannot expense to support their remote work. Additionally, custom expense categories allow accounting to see exactly how much is being spent against their new policy during mandatory work from home.

We are adding dozens of exclusive deals and new partners like Aaptiv, Calm, Citrus.com, FitTrack, Flowers Fast, illy, Krisp, Skyroam, Sonder, Sonos, and UrbanStems to the TravelBank Marketplace in the Work From Home category to help our customers and their employees find the resources they need to feel productive and healthy while they work at home.

We have also put together a number of resources to help guide finance admins as they audit their financial position, implement expense reporting software for their remote workforce, and build their first work from home expense policy.

What does the user experience look like?

Create a custom category

A custom expense category allows your accounting team to filter and see work from home-related expenses and properly attribute them within the general ledger.

To set up a new custom category for work from home expenses, log in to the TravelBank app and click on “Company Settings” in the main menu. From there, select “Expense Categories,” then click on the plus icon in the bottom right corner to create a new category. Once saved, the new category is available for your employees to select as they capture new expenses, and it will automatically sync to your integrated general ledger.

Customize your expense policy

Once your company decides what expenses employees can reimburse at this time, you can fill out a custom policy request form on our site and share the details. If your team isn’t sure where to start, they can review our sample policy for guidance.

We publish a notification in-app

After we receive your form submission, our team will create a notification that appears in the TravelBank desktop app for your employees and outlines the new policy. This notification will pop up when your employees go to add a new expense.

Tracking business expenses, and ensuring they are submitted, reviewed, and approved on time is challenging enough as is. Use TravelBank to track, manage, and reconcile work from home expenses and power your remote workforce.