In this article, we will cover the Expenses section of admin settings. This section is crucial to ensure that the required expense details are getting captured in the expense forms that employees fill out for the reconciliation of company expenses. You can modify these settings at any time.
Navigate to your admin settings by clicking on the gear icon next to your profile in the top right corner of your screen.
Expense fields are used to capture expense details on expense forms that are filled out by employees. Certain Default Fields capture the necessary details on expense forms, as an admin you can configure the default fields and choose if these fields are mandatory or not.
You can also create custom fields specific to your organization in order to capture any additional expense details.
Expense rules make it easy to ensure that relevant fields are filled in all expense forms. The expense rules play an "if-then" condition on the Merchant field in the expense form.
For example, you can set an expense rule such that if the Merchant is entered as Uber, then the Purpose fields automatically get filled in as Taxi.
As an admin, you can configure policies for your organization in order to flag expenses that do not capture the details required. You can set up soft policies and critical policies for expenses.
You can set up budgets for different categories, departments, cost centers, and projects within your organization.
You can set up a budget threshold percentage and email notifications will be sent out to selected employees when the threshold has been met.
You can set up mileage rates for employees to choose from. Employees will only be able to select from the mileage rates visible to them. You can manage the visibility of mileage rates for select employees, modify rates, and enable and disable them.
You set up add per diem rates or a daily allowance for your employees. Per Diems are normally a fixed allowance of reimbursement paid to employees for daily lodging, meals, and incidental expenses incurred during business-related travel.
You can set up an amount limit that can be submitted for specific categories without receipts attached to them.
If the amount on the expense form exceeds the limit that is set up, a policy violation is triggered on the expense and the employee will have to provide additional details before submitting that expense.
You can add tax groups and tax percentages to be added to the expenses claimed.
You can add multiple tax groups and employees can choose the corresponding tax group from a drop-down list while creating expenses.
The currency exchange rates setup can be used to manually set exchange rates for different conversions between currencies. When expenses are created in foreign currencies, the rates set up will apply to convert them to your organization's home currency.
This covers the Expenses section of admin settings.
To learn more about the Employees section, click here.