Yokoy Expense: Midnight rule, 3-month rule with cutoff, support for integer currencies – February 2023

We are excited to have recently released a new functionality to calculate per diem with the midnight rule. This functionality is specific to customers in Germany or customers who have entities in Germany. Yokoy automatically validates and calculates the amount with all the requirements from the Midnight rule.

Admins can now enable this for German entities. Go to Admin > Company, Trips section. In the Lump Sum creation rule dropdown list, select Per day and rate and in the Lump sum share rule dropdown list, select Germany with Midnight Rule.

A few months back, we released the 3 month rule for customers and entities in Germany in which per diem falls under income tax if the employee travels for more than 3 months to the same location in conjunction with other requirements and calculations in the rule; Yokoy indicates it in the analytics.

With the current release, 3 month rule with payment cut-off, we follow the same calculations and requirements from the standard 3-months rule. However, the per diem is not issued to the submitter, the submitter receives zero reimbursement. If the submitter receives accommodation, the accommodation allowance is subjected to income tax.

This can be configured under Admin > Lump sum. Select per diem configured for Germany, Versions and select 3 Month rule with cutoff.

Note: The default selection is the standard 3 month rule and reimburses the amount which is then income taxable.

Yokoy now supports 24 hour and calendar day type per diem calculations in Norway, Czech Republic, Poland and Denmark. Admins can choose between these two types of calculations.

The per diem configuration now gets additional fields in the overview, such as applicable countries, start and end date of the per diem.

Besides, when adding a new per diem:

And when adding reductions/additions in lump sums:

To configure, go to Admin > Lump sums.

For currencies like Japanese Yen, Icelandic Króna and others, the total amount should only be integers and reporting an expense in decimals is not allowed. For such countries, we‘ve restricted users from entering the total amount in decimals. If the user attempts to report the total amount in decimals for such currencies, Yokoy sends a warning message Only integers are allowed.

This feature enables users to submit credit notes. Submitters can report credit notes similar to submitting a single expense, but the submitter mark the expense as a credit note.

Please note this feature cannot be enabled directly by Yokoy admins. Please reach out to support@yokoy.ai, so our team can set it up.

Submitters now receive a warning if the VAT field is missing for the country and category configured. Further, the submitters can edit the VAT amount, and additionally managers and finance reviewers can review the VAT during the approval process.

To enable this, go to Admin > Company, Enable VAT input tax deduction; select the Enable VAT section for submitters and Enable VAT section for approvers checkboxes.

This feature allows you to calculate VAT for lump sums and mileage expenses, if the VAT for specific countries are configured. Test this if you’re using any of our VAT integrations.

To enable this, go to Admin > Company, Enable VAT input deductions, and select the Enable VAT for mileage expense and VAT for lump sums checkbox.

We‘ve merged the “Ready” and “Save” button for expenses within a trip. With this change, if all mandatory information is present for an expense within a trip, when submitters click Save, the expense is validated and is moved automatically to Ready state.

If any mandatory fields are missing, submitters receive the warning: Expense has mandatory information missing do you want to save the expense for later.

This update only impacts expenses within a trip and includes all expense type such as mileage, receipt, no receipt, and lump sum.