Setting up a receipt policy on Relay is a quick and effective way to ensure you only collect the receipts you need for your business! Read on to learn more.
Please note: when first setting up your receipt policy, you will need to do this via your desktop, as this first step is not yet supported on the Relay mobile app. However, once you've set up your receipt policy, you can edit it at any time on your desktop or the Relay app.
What is a receipt policy?
A receipt policy is a set of controls you can put in place to standardize what card transactions your employees will need to provide receipts for. Setting a receipt policy means you no longer need to comb through your bank feed to pull out the transactions you need a receipt for.
What receipt policies does Relay offer?
Relay offers three policies for you to choose from:
- Do not require receipts for any card transactions
- Require a receipt on card transactions above $75
- Require a receipt on all card transactions
Offering three policies to choose from will allow you more control over what transactions you would like receipts for. Only team members with Administrator permissions and advisors with Administrator or Super Administrator permissions can set a receipt policy, and the receipt policy can be changed at any time. When a receipt policy is set, it will be applied account-wide. You will not be able to set a receipt policy for individual cards.
One of the rules you can choose from is “Require a receipt on card transactions above $75”. This dollar amount cannot be changed. Relay has selected this dollar amount as the default based on a standardized value for tax purposes.
If you select “Do not require receipts for any card transactions”, you and your team members will still be able to attach receipts to transactions in Relay. However, you will not receive SMS notifications when transactions are made, and you won't be prompted to set up email forwarding. Additionally, no transactions will show up on the Receipts page.
How to set up a receipt policy
- Sign in to your Relay account.
- Navigate to the Cards tab, then select Receipts from the drop-down menu.
- Click Get started.
- Select your policy, then click Continue.
- Copy your receipt forwarding email address and click Done.
Can I apply a receipt policy to specific cards?
We do not currently offer the ability to apply a receipt policy to specific cards. A receipt policy will be applied to all cards linked to your account.
Can I set multiple policies?
No, only one receipt policy can be set per business.
When I set a receipt policy, will it apply to past transactions?
No, the receipt policy will only be enforced for new transactions
Can my accountant or bookkeeper set/change my receipt policy?
Yes, but only if they have Super Administrator or Administrator permission levels. You can learn more about advisor permissions here: Advisor permissions in client accounts.