Expense Management
Paycom’s cutting-edge technology provides businesses one application to more efficiently manage employee expenses. Fully integrated with Employee Self-Service and Payroll, it’s a turn-key solution that allows you to spend less time collecting, entering and processing employee-initiated expenses.
Online Expense Management
Paperless and Efficient Expense Management
Get rid of the manual, paper-based processes of managing your employees’ company-related expenses with our single application solution for payroll and HR.
- Automate the process of collecting employee expenses.
- Eliminate errors and inconsistency in data that result from re-keying expense information.
- Enforce employee compliance with company policies.
- Collect required expense data.
Control Expenses With Customized Settings
From Paycom’s Expense Management Menu you can customize settings to better manage employee expenses.
- Expense Rules – Create and manage expense rules specific to your company. Specify the type of deduction, the dollar amount and how you would like to reimburse employees for their expenses.
- Expense Categories – Have the ability to group expenses together to create categories for reimbursement limits.
- Expense Classes – Assign expense rules and categories to a specific employee or employee group with expense classes.
- Payroll Reimbursement – With one click you can update the payroll system with your employee reimbursement information.
Set Expectations Up Front
With the ability to customize your settings you are able to set clearly defined parameters for how your company reimburses employee expenses.
- Through Employee Self Service managers have real-time access to view and approve expenses prior to submitting to Payroll.
- Expenses that do not meet your company’s parameters are flagged for the manager to further investigate the validity of the expense.
Empower Employees With Self-Service Expense Management
Provide online access to your employees through Employee Self-Service.
- Employees can upload receipts, submit expenses for reimbursement and edit expenses at their convenience.
- From the Employee Expense Dashboard they can view the status of their submitted expenses such as: approved, denied, pending or deferred.
- Once approved, expenses are submitted to payroll for employee reimbursement.
Expense Management Reporting Options
Under the Sarbanes-Oxley Act of 2002, company managers are personally liable for unauthorized and improper expenditure in their departments. Continuously monitor your company’s expenses with a variety of Expense Management reports.
- Run detailed reports showing which expense requests were approved or denied when and by which supervisor.
- Reports include: Transaction Report, Expense Audit Report, Approval Report and Expense Classes Report.
- All reports can be output in HTML, Excel or CSV formats.
