This feature is available for an additional charge. Contact Airbase Customer Success team to learn more.
The Airbase Reimbursements feature manages employee reimbursements, from submitting the request to transferring the funds to employees in one platform.
The Reimbursements feature will:
- Allow employees to submit requests.
- Help Admins define Reimbursement Policies and Approval Policies to evaluate every reimbursement request.
- Enable the finance team to transfer the funds to employees and record the transaction in the GL.
There are two key factors that determine an employee’s reimbursement request:
Admins need to set up both the Reimbursement Policy and Approval Policy for reimbursements before they start accepting reimbursement requests from employees.
A Reimbursement Policy is a set of rules defined by the Admin. The Reimbursements Rules will ensure:
- All the details are in place when the employee submits the reimbursement request.
- The request is within the budget.
- The request is submitted within the set time limit.
There are three types of Reimbursement Rules.
If the employee’s request violates any of the Rules, the Reimbursement Policy will be imposed in two ways:
- Warning: The employee will be informed about the violation but can submit the request.
- Blocking: The employee will not be allowed to submit the request until the violation is fixed.
For example, if your organization requires all the employees to submit their reimbursement requests within 30 days of the expense, you can set that as a rule in the Reimbursement Policy. If you have set the action of violating the rule as a Warning, employees will be able to submit the request, but with a warning. The employee more aware of the violation and will be obliged to add a note with an explanation to avoid further questions. However, if the action is set as Blocking, the employee will not be allowed to submit the reimbursement request.
Approval Policy for Reimbursements.
The Approval Policy for Reimbursements details who approves or denies the reimbursement request from an employee.
When the employee submits a request, Airbase will check the Rules in the Reimbursement Policy and the Approval Policy for Reimbursements.
Here’s what happens when an employee initiates a reimbursement request in Airbase:
- Airbase evaluates the request against all the applicable rules in the Reimbursement Policy defined by the Admin. If the request conflicts with any of the rules, the employee will be:
- Warned: The employee will find a list of rules violated but can continue submitting the request.
- Blocked: The employee will not be allowed to submit the request. They need to contact their Manager or the Finance team to handle the reimbursement request outside Airbase.
- If the request is valid or has a warning, Airbase will check the Approval Policy for Reimbursements and list the Approvers who need to approve or deny the reimbursement request.
- The employee can verify the details before submitting the request.
- Once the request is submitted, Airbase will forward the request to the Approvers in the order mentioned in the Approval Policy.
- On approval,
- Airbase will initiate an ACH transfer the same day to the employee’s bank account set up in Airbase. The amount will be credited in four business days.
- Or you can reimburse the employee outside Airbase and mark the request as 'Paid Outside AIrbase'