Abacus Updates

New Feature: Automate Your Expense Policy with Abacus Rule Builder

A lot of companies spend a considerable amount of time managing employee expenses. Much of that is spent communicating and enforcing an expense policy. It’s natural for policies to evolve with a company and begin to cover new categories, geographies, and restrictions.

Since change can often be swift and unforeseen, employees file expenses that sometimes fall outside of the ‘new policy’. Administrators end up having to go back and forth with employees, communicating what’s changed and what’s no longer allowed. Specific policies tend to be nuanced and tough for employees to remember the next time they’re filing expenses.

We’ve worked with many of our customers to understand how they enforce their expense policies. What we heard was that it’s still mostly manual. This isn’t fun for anybody. Employees face serious anxiety submitting certain expenses (we’ve all been there), and managers don’t want to constantly talk to employees about their spend. Our goal is to reduce the overall time and cost associated with managing expenses, so we decided to build a better way for companies to implement their policy.

With that in mind, today we’re releasing a new flexible Rule Builder for administrators that does the work of enforcing your expense policy for you. Admins can now program their expense policy right into the system. Whether it’s requiring a receipt for certain expenses, making sure employees tag clients & projects, or setting per diems for meals while traveling, Abacus surfaces the rules to employees who brush up against them.

Here’s how it works:

  1. Administrators use our Rule Builder to create a custom Rule. Rules can apply to the whole Company, a specific Team, or a single Individual.
  2. Rules can be set to either ‘Blocking’ or ‘Warning’.
  3. ‘Blocking’ Rules prevent the employee from submitting an expense altogether. Unless they correct their expense, it won’t be sent.
  4. ‘Warning’ Rules are a bit different. If an expense an employee is attempting to submit triggers a Warning Rule, the employee will be alerted. They can either ‘Submit Anyway’ with the Warning applied to the expense (requesting an exception), or correct the expense.

Mapping your company’s expense policy to Abacus cuts down on the back and forth between admins and employees by surfacing the right information at the right time, preventing any misunderstandings.

Interested in using our Rules but not sure what kind to create for your growing company? Check out these popular rules that we’ve seen our customers create:

  • A Receipt is required for expenses over $75.00 (Blocking Rule)
  • A Client Tag is required for all expenses for the Sales Team
  • Employees can’t spend more than $60 per day on ‘Meals’ (Warning Rule)
  • Employees can reimburse their cell phone bill up to $100 a month
  • And any variant based on your expense categories!

The entire expense process runs smoothly when employees know what’s required of them and what’s within policy. Let Abacus automate your expense policy by enforcing your policy for you.

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