FirstBank OnBoarding Manual - Flipbook - Page 157
EXPENSE REPORT GUIDELINES
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Nonallowable Expenses
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Necessary Information:
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Date of Expense
Receipt Amount
Paid To
Description
Expense Category: pick the category that best matches
the expense (we no longer have “Mortgage Expenses” as
a category to choose!).
Comments if you need more room to be descriptive.
Better to give more information than not enough!
Attendees if applicable.
Receipts are Required!
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Cell Phone: Effective September 1, 2023, cell phone bills cannot be submitted for reimbursement.
Alcohol: If alcohol is listed on a receipt, then the total requested for reimbursement must take off
the cost of the alcohol.
Mileage: Mileage to closings, to take an application, to and from your office, meetings with
realtors, etc... is not an allowable expense.
Gifts for Coworkers: Lunch with a coworker, Baby/wedding showers, Birthday gifts and
celebrations, Condolences for bereavement
Loan Expenses: Should be paid on a FirstBank Corporate Card.
Things of Value: Ask yourself—Are you giving something to a builder/real estate agent in the
hopes of referrals? Then you cannot expense this.
Money (gift cards), meals, donuts, beverages, goody baskets, Christmas gifts, appreciation gifts,
etc... all count as a thing of value and cannot be given to a business partner.
Better to be safe than sorry and avoid a RESPA violation.
Receipts are required and must match the amount
you're asking for reimbursement.
In the case where you're requesting 50%, it's best practice
to write that on the receipt AND put that information on
the "Comments" section of the expense report.
If a receipt doesn't match the expense report information,
AP will email you about it. Spearhead that and give them
all the information upfront!
Expense Routing:
You submit your
expense report.
Accounts Payable looks through, then
sends to your manager for approval.
Manger looks through receipts,
codes, budgets, etc...
Process starts
over again.
AP has to manually move that
report back to your queue for edits.
Denied. Manager
emails you and AP
about corrections.
Onboarding Manual
Approved.
You'll get your
money soon.
Confidential. Property of FirstBank. Not for Distribution.
