Boomr is thrilled to introduce Expense Tracking to our Business tier. You can use Boomr expenses to submit, review and approve expenses that your employees incur while working for you. You can then run reports on those expenses for reimbursement via your preferred payroll provider. And just like the rest of Boomr, expenses are easy for your employees to use and can be setup in minutes.
In this article, we’ll learn how to create and edit expense categories in Boomr.
First you’ll need to add new expense categories to your Boomr account. To do this, Sign In to your account, then click on the person icon in the top, right corner of the screen. Next click on ‘Account’ and then choose ‘Expenses’ from the list on the left side of the screen.
To add a new category for expenses to be submitted, click on the ‘Add Expense Category’ button. In the new window you can enter a name and an description for your expense. Some examples might be meals, mileage, or misc.
You’ll also need to decide whether that expense should be reimbursed as a fixed amount or as per unit expense. Fixed amount should be selected for any expense that receives a one-for-one reimbursement (ex. $36.12 was spent for lunch). Meals or road tolls are two examples that might fit here.
Pay By Unit should be selected for expenses that are reimbursed as a multiplier of the unit entered. The best example here is mileage. If you reimburse employees $.556 per mile, you’d want to add mileage as a category and set the Expense Type to Pay By Unit. When selecting Pay By Unit, you’ll also need to set the multiplier for the category. Enter an amount and hit ‘Save’. When employees submit expenses for Pay By Unit expense types, they will be prompted to enter a # of units (for example, 25 miles) instead of a dollar amount.
Repeat this process as needed until you’ve added all of your expense categories. You can also return to this page if you ever need to edit or delete an expense category.
Once expense categories are set up, employees can submit expenses for approval during their work shifts, either via the mobile app or in their web dashboard.