Once you have owner access to expense management, you can begin setting up configurations according to your business's setup. This article will cover the complete process of how to set up expense management on your own or delegate the process.
Ready to get started? Watch this 3 min video to learn how to streamline your business expenses with Expense Management or continue reading.
Access Expense Management
Once you’ve signed in to your Capital One account on your desktop, you’ll be able to access Expense Management in three ways:
Go to Account details, select More Account Services, then select the Manage Expenses link under Expenses and Reporting.
Go to Account details, then select the Learn about managing expenses button above your transactions.
Go to Account details, select the tab Payments and Expenses, then select Manage Expenses link.
Delegate the setup process to an admin
You can delegate access to an admin to set up the account configurations. To delegate access select the first option to Delegate setting up the account.
Next, select the admin from the drop-down list of employees and select Invite.
Once the invite is sent, the admin can set up the account configurations. You can modify these from the settings.
Set up on your own
Select the second option to begin the account setup process. The system will walk you through a couple of initial settings, other settings can be modified per your requirements.
Review employees and manage roles
First start by reviewing all the added employees to the platform and assign admin roles to relevant employees.
Select Manage roles to start. You can select Skip to set this up later from your settings.
Review the list of all employees and assign admin roles to users who will be running the platform as administrators. The Spender role is assigned to every employee by default.
Note: Admins have access to all organization settings, report workflow and expenses. They can modify these if and when required.
Once the roles are assigned, select Save and continue to proceed.
Assign default administrator
Next assign a default admin, who is responsible for completing expenses on behalf of any employee without access to Expense Management.
Select Assign. You can select Skip to set this up later from your settings.
Select the default admin from the drop-down list and select Save and continue.
Add receipt settings
You can manage the rules to collect receipts on expenses from your employees.
Select the Add receipt settings button to continue. You can select Skip to set this up later from your settings.
Select the required rule to apply for receipts, these rules apply to all expenses across employees.
The rules that can be set include:
Require receipts for all expenses: This rule mandates adding a receipt to an expense to save or submit it for approval.
Require receipts for expenses greater than: This rule allows you to set an amount beyond that which the expense requires a receipt to save and submit for approval.
No receipts required: This rule does not mandate receipts, employees can save and submit expenses for approval without receipts.
Once the rule is set, select Save and continue.
Automate expense reports
You can automate the process to create and submit expense reports for your employees. The automation submits all complete expenses for approval on a set day/date of the week/month.
Select Set schedule to proceed. You can select Skip to set this up later from your settings.
You can choose if the reports are to be auto-submitted monthly or weekly and select the days/dates. To submit reports on the last day of the month, select Last Day from the drop-down list.
Select Save and continue to proceed.
Manage approval workflow
Lastly, set up approvers for expenses. The employee expense report will be directed to their approver once it has been submitted. Approvers can edit, send back and approve expense reports.
Select Create workflow to proceed.
Choose the approver for each employee. The approver will automatically be assigned the Approver role.
If you need to set up additional approvals for expenses beyond a set amount, select Add 2nd approver.
Enter the required amount and select Add 2nd approver.
An additional column will be added to the list of employees, assign a second approver from the drop-down.
Select Save and finish to proceed.
Your account setup is complete! Select Start managing expenses to finish.
You will be redirected to the Tasks page for your organization. You can make changes to any of the configured rules from your admin settings.
To access admin settings, select the gear icon in the top right corner. You can modify settings as and when needed.
After you complete the setup, you can manage your employees' access to Expense Management and access your admin dashboard by selecting the Go to business expenses and Go to expense reports buttons.
If you need further assistance setting up your account, reach out to our support team at support@capitalone-fylehq.com.