Expense Policy

TL;DR

• Our policy: Act in the company's best interest.
• All employees will be issued a Brex virtual card with a $7,500 limit at onboarding
• We require a receipt for transactions >$75 and a memo for all transactions
• Finance reviews all expenses.

Our policy

• Use professional judgment. We need to strike a balance between keeping our expenses reasonably low and paying for what we need to execute at a high level. Money saved goes directly to the bottom line. You be the judge.
• Here are some quick examples to help guide you:
• For flights - we fly coach unless it’s discussed ahead of time with your manager or the leadership team.
• For work travel - any costs incurred due to that travel (lodging, meals, transportation, etc) should be expensed.
• For offsites - anything related to getting to/from the offsite, or related to an activity at the offsite (e.g. getting sunscreen for a beach day) should be expensed. A souvenir for a family member shouldn’t be expensed.
• If you’re ever in doubt, consider the “grandparent test.” If you had to explain an expense you made to your grandparent, would you feel good about it? If the answer is yes, then the expense is probably fine.
• All expenses are reviewed by Finance regularly. You will be expected to provide a brief explanation justifying an expense, if requested.
• For example: “Please explain this large meal expense.” “It was a business development dinner with a large potential client, in Manhattan, 10 people attended.”
• All team members are assigned a virtual Brex card at onboarding. This virtual card should be used whenever possible. The virtual card can be added to your Apple or Google Wallet for in-person purchases. If it’s not possible to use a virtual card, you can pay with a personal card and submit the expense to Ben via email for reimbursement.
• Brex requires you to scan the receipt for any transaction >$75, and also requires a brief written note (a "memo") for all transactions. This can all be done in the Brex app, which we’d recommend you download to your phone. Here are some standard memos you can use:
• For the $750 Home Office Stipend, write “home office stipend” as the memo, along with a description of what was purchased.
• For our Professional Development expense policy (if it helps you do your job and it’s <$100), write “Professional Development” as the memo, along with a description of what was purchased.
• For a company offsite such as the Mexico City offsite, write “Mexico City offsite” as the memo, along with a description of what was purchased.

• You can expense 80% of a co-working membership that costs up to $250 per month (e.g. the maximum we will reimburse is $200 a month). Use your Brex card and message accounting@ about the expense. They will set up a payroll deduction for the 20% copay. If you cancel your membership, let accounting@ know so they can remove the deduction.