In Web2Expense - Travel Expense Report Management Software a company can have one or more expense policies.

Business needs and government regulations determine how companies should adapt expense policies for their needs.

The system generates a "Default Expense Policy" for your immediate use after you create Web2Expense account.

This "Default Policy" becomes the root expense policy if you decide to keep and use it. However, you may choose to change or delete this default policy depending on your needs.
Companies can implement expense policies at company, department, project or in rare cases user levels. This flexible policy enforcement allows companies to use Web2Expense efficiently in different scenarios. A company can have only one default policy therefore this policy has to be carefully reviewed by the accounting department and company auditors.

Federal (US) or High-Low check marks allow companies to adopt IRS Publication 1542 per diem tables for a specific policy. When one of these policies applied to a user's expense report then the user's per diem rate is the summation of lodging and M&IE. If a lodging plus policy required the lodging rate has to be entered as 0.

Here is a quick summary of important facts:

• If a policy type is marked as "Default Policy" then this policy is in enforced for company employees, and other users.
• Project and user based policy enforcement take precedence accordingly.
• Policy currency is enforced for travel expense reports. If a policy is created in EURO then the expense report is maintained in EURO.
• Maximum lodging and Meals and Incidental Expense rates provides flexible policy enforcement rules for department, project or user levels.
• Per diem rates applied as lodging plus provide a quick and easy way to report meals for travel expense reports.
• Receipt limit controls the physical receipt requirement for companies requiring submittal of physical receipts using automated fax system.
• Maximum Expense Limit determines the maximum amount that a manger can approve an expense report.