Yokoy Expense: Expense matching, detailed trip itineraries – March 2023

We‘re excited to announce the upcoming launch of our latest feature: the Expense Matcher on 11 April 2023. It simplifies manually matching your corporate card transactions and expenses within Yokoy.

We built the Expense Matcher to handle cases where real-world complexity prevents us from automatically matching corporate card transactions and expenses.

With the Expense Matcher, submitters and finance users can now easily:

For example, employees during a hotel stay have repeatedly paid for breakfast with their company card. They scan the receipts and submit them immediately. These receipts have gone through the approval flow in Yokoy and now are in Finance. However, at the end of the stay, the hotel has debited all expenses in total and therefore only transaction has been imported in Yokoy. Finance previously had no way to match these submitted receipts with the single transaction. Now they can with the Expense Matcher.

This update will be rolled-out automatically, on April 11, 2023 and will replace the existing matching model. We recommend you to activate the feature and try out the Expense Matcher and communicate to your team. We have prepared a step-by-step guide to turning on the feature as well as examples of various use cases. Feel free to share it with your team.

Expense warning messages are being improved; the updated warnings offer clearer, more precise information about the errors. The warnings are now displayed in a container and is visually more refined to improve the overall user experience.

The start time and departure time are not always the same, especially in the case of air and train travel. Thus we have now enabled submitters to enter two different times:

Besides, for per diem calculations, the start time and end time of the trip is calculated. The current update brings much more enhancement to capture all travel details of employees. For example, if the user takes a taxi ride from home to the airport, the current update shows the complete itinerary of the user, without any timing mismatch.

To enable this, go to Admin > Company under Trips:

When users need to take a detour from the route proposed from Google Maps, users are allowed to change the kilometers/miles traveled.

In such cases, the users can‘t deviate or cross the threshold limit set by the admin. If the user now crosses the limit, Yokoy sends a warning message stating The user breached the maximum limit.

Admins can set this threshold under: Admin > Company, Compliance, select the Notify if Google Maps distance threshold exceeded checkbox and enter the threshold limit.

Users can split the amount between cost objects by amount and also by percentage. This allows users to easily calculate the amount and split the allocation for different cost objects.

Previously, Yokoy only allowed users to split the amount between different cost objects by percentage.

Now finance users can edit the total expense amount and also add expenses to a trip.

This feature can be enabled under Admin > Company, Compliance, select Enable finance role to edit the expense amount and Enable finance role to add expense within trips checkboxes.

We‘ve made improvements on custom rules for per diem modification, making the calculation more robust and adhering to certain regulatory requirements.