Add a new company

You can add new companies to Yokoy in Admin > Organization. In the Company list tab, you have the option to create new legal entities from scratch.

However, you may want to create a legal entity using another company that you have already set up. Yokoy lets you copy one of your existing companies as the basis for your new company or use a standard template for a specific country.

To use an existing company as the basis for creating a new legal entity, click Copy.

A popup window displays a list of all the data objects that are copied from the existing company when creating your new company:

In particular, you need to check:

Once created, go to the Company settings page (Admin > Company settings) to continue setting up the company.

When you copy an existing company, Yokoy takes all settings that have been set up in Admin > Company settings. Check that these settings are appropriate for the new company.

Since tag dimensions and tags may reference data objects that are specific to a specific legal entity (i.e. cost objects), you need to adjust your new company to correctly link to these IDs.

For example, you may need to adjust your tag-based workflow to take the new IDs generated for the new company. In other words, if the tag dimension references a cost object, you need to first set up your new cost objects, and then adjust the tag dimension to reference the new cost object you set up.

You can add new legal entities to the setup by clicking + Add new company. This opens a dialog window where you can enter the name of the new legal entity.

You can choose to create a company:

Click Apply. Once created, go the Company settings page (Admin > Company settings) to either set up the company (if created from scratch) or check all settings are correct for the new company (if created using a template).

This template includes general settings for the company, tax rates, mileage rates, per diems, a generic set of categories that need to be adjusted, and a generic set of tags for German use cases.

The company is set up to use Yokoy managed exchange rates. You can adjust this if required.

You will need to configure any integrations you may need, create the corresponding cost objects, import or add any users, assign user permissions, and set up employee policies and expense rules (if required).

In Company settings, you need to configure the following:

The company is configured to use line manager approval without auto-approval, and manual finance review.

The German law provides rules for per diem reimbursement. Therefore, the company has been set up to automatically trigger the corresponding per diems based on employees’ trips. It includes all the calculation logic for the midnight rule, and for the 3-month rule.

Three tax rates have been set up:

If you use a finance integration to export expenses and/or invoices from Yokoy, you need to adjust these rates to include the Tax code (ERP) and Account (ERP) to allow the export of tax amounts.

Generic categories have been set up that suit most use cases. However, you need to adjust the setup to include the GL account to be used for export in Account (ERP).

Typically in Germany, an allowance sum to compensate for the actual cost for job-related travel is paid out on base of the driven kilometers (Kilometerpauschale). It is used for reimbursement of such job-related travel costs when personal vehicles are used. The reimbursement of mileage rates is tax-free, if the governmental rates are paid.

The tax-exempt rates for work-related travel are, regardless of distance traveled:

It's important to note that these allowances are intended to cover actual costs.

If an employer pays mileage rates above these approved amounts, any excess over the specified rate will be considered taxable income for the employee, according to the tax authorities (§ 3 Nr. 16 EStG).

Taxable amounts above the tax-free values have to be reported to HR/Payroll normally in the form of wage tax codes/amounts for further processing in the ERP. This is currently not reflected in the Yokoy template/setup.

In addition to this per-kilometer allowance, employees can also be reimbursed for tolls and parking fees, which employees can file as regular expenses within Yokoy.

This template contains standard practices and data-driven recommendations based on insights from existing UK customers.

It includes basic company settings, tax rates, mileage rates, and categories. The company is set up to use Yokoy managed exchange rates. You can adjust this if required.

It does not include any setup related to any integrations you may need and cost objects. You need to import or add any users, assign user permissions, and set up employee policies and expense rules (if required). Since in the UK, common practice is to file actual costs rather than per diems, no per diem configuration is included.

In Company settings, you need to configure the following:

The company is configured to use line manager approval without auto-approval, and manual finance review.

In addition to standard setup, any expenses that are over £250 (including VAT) are flagged as requiring an official supplier invoice.

Three tax rates have been set up:

If you use a finance integration to export expenses and/or invoices from Yokoy, you need to adjust these rates to include the Tax code (ERP) and Account (ERP) to allow the export of tax amounts.

Generic categories have been set up that suit most use cases. However, you need to adjust the setup to include the GL account to be used for export in Account (ERP).

In the United Kingdom, the Approved Mileage Allowance Payments (AMAPs) are set by HM Revenue and Customs (HMRC) to reimburse employees who use their personal vehicles for business purposes. These rates have been consistent since the 2011-2012 tax year. Mileage rates have been set up to reflect these rates (i.e. private car, motorcycle, bike).

This template contains standard practices and data-driven recommendations based on insights from existing Dutch customers.

It includes basic company settings, tax rates, mileage rates, and categories. The company is set up to use Yokoy managed exchange rates. You can adjust this if required.

It does not include any setup related to any integrations you may need and cost objects. You need to import or add any users, assign user permissions, and set up employee policies and expense rules (if required). Since in the Netherlands, common practice is to file actual costs rather than per diems, no per diem configuration is included and must be set up manually.

In Company settings, you need to configure the following:

The company is configured to use line manager approval without auto-approval, and manual finance review.

Three tax rates have been set up:

If you use a finance integration to export expenses and/or invoices from Yokoy, you need to adjust these rates to include the Tax code (ERP) and Account (ERP) to allow the export of tax amounts.

Generic categories have been set up that suit most use cases. However, you need to adjust the setup to include the GL account to be used for export in Account (ERP).

A simple mileage rate of up to EUR 0.23 per kilometer is set up.

This template contains standard practices and data-driven recommendations based on insights from existing Spanish customers.

It includes basic company settings, tax rates, mileage rates, per diem rates, categories, and specific custom fields to gather information required for legal requirements (i.e. tax IDs). The company is set up to use Yokoy managed exchange rates. You can adjust this if required.

In Company settings, you need to configure the following:

The company is configured to use line manager approval without auto-approval, and manual finance review.

Four tax rates have been set up:

If you use a finance integration to export expenses and/or invoices from Yokoy, you need to adjust these rates to include the Tax code (ERP) and Account (ERP) to allow the export of tax amounts.

Generic categories have been set up that suit most use cases. However, you need to adjust the setup to include the GL account to be used for export in Account (ERP).

As of July 17, 2023, the Spanish tax authorities have updated the mileage reimbursement rate for employees using their personal vehicles for work-related travel. The tax-exempt rates for work-related travel are, regardless of distance traveled:

These allowances are intended to cover expenses such as fuel, vehicle wear and tear, and other associated costs. Employers are responsible for accurately reporting these reimbursements. The template include these rates. If an employer pays mileage rates above these approved amounts, any excess over the specified rate will be considered taxable income for the employee, according to the tax authorities. This is currently not reflected in the setup.

This template contains standard practices and data-driven recommendations based on insights from existing Swiss customers.

It includes basic company settings, tax rates, mileage rates, and categories. The company is set up to use Yokoy managed exchange rates. You can adjust this if required.

It does not include any setup related to any integrations you may need and cost objects. You need to import or add any users, assign user permissions, and set up employee policies and expense rules (if required). Since in Switzerland, common practice is to file actual costs rather than per diems, no per diem configuration is included and must be set up manually.

Four tax rates have been set up:

If you use a finance integration to export expenses and/or invoices from Yokoy, you need to adjust these rates to include the Tax code (ERP) and Account (ERP) to allow the export of tax amounts.

Generic categories have been set up that suit most use cases. However, you need to adjust the setup to include the GL account to be used for export in Account (ERP).

In Switzerland, authorities do not provide any specific mileage reimbursement rate. They leave it up to businesses to determine their own rates. Therefore, mileage rates can vary between companies or only actual costs are reimbursed. However, many companies base their rates on the Touring Club Switzerland (TCS) recommendations. Mileage rates are set up to cover car, motorcycle, and bike mileage claims.