With Success Budgets, companies easily fund employee work expenses and perks such as internet, co-working space, wellness, coaching, and coffee/lunches. Now companies no longer need to decide what expenses will be handled via reimbursement or via stipend, what is taxable or not taxable. No more having to decide "how much should we reimburse for internet, how much for wellness?".
Once Success Budgets are activated for a company's Reimbi account, the Success Budget amount can be added to each reimbursement policy.
To enabled Success Budgets on an individual policy click on the "Policies" link in the sidebar. Then select the policy where the Success Budget will be added. Here we are looking at a company's generically named "Employee" policy.
From the General tab in the policy you will first toggle the Enabled flag, then specify the budget amount.
It is recommended to Rollover unused funds. For example, if $150 of the $200 budget is used in May then $50 will rollover to June. This helps especially in situations where an employee doesn't submit an expense in the same month it was incurred.
To define which types of expenses can be applied to the Success Budget click on the Expense types tab in the policy.
In this example, Success Budget can be used on Wellness, Home office equipment, Home office internet, and meal expenses. If these types of expenses are entered by an employee assigned to this policy and that employee has available Success Budget in that month then the expense will automatically be approved and the payout will be processed.
Expenses entered by this employee that are not one of these expense types or where the available Success Budget is not sufficient will need to be approved by the assigned approver prior to the payout being processed.
If you need Success Budgets activated for your company or need assistance in getting setup please contact email@example.com