Setting up an expense policy in Expensify is an important step for any business or organization that wants to track and manage employee expenses. An expense policy helps to ensure that employees are following the company's guidelines for spending and that all expenses are properly documented and accounted for. It also helps to ensure that employees are not overspending or misusing company funds. Having an expense policy in place can help to reduce the risk of fraud and ensure that the company is compliant with any applicable laws and regulations.