Group CFO? Get the complete guide to multi-entity spend control (feat' top CFO insights)

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Group CFO? Get the complete guide to multi-entity spend control (feat' top CFO insights)

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RELEASE NOTES

What's new at Payhawk

Keep up with Payhawk’s latest product news. We ship fast, so you can improve your spend management process faster!
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Jan 29, 2025
Enhancement
Control & governance

Approver Fallback visibility

Payhawk will log a workflow update in the activity section of the expense and inbox request whenever a fallback is triggered.

What's new?

Workflow history logs for fallbacks will be created when:

  • The approval workflow is pending, but no Team field manager, Custom field manager, or Category manager could be identified.
  • The Team, Category, or Custom field required for the approval workflow is empty.
  • The approval has been delegated to another employee, such as when the original approver is out of office, and when the expense is automatically approved (for example, when the expense owner is also the approver).

Key benefits:

  • Improved Transparency: Workflow updates are now logged in the activity section whenever a fallback is triggered, providing clear visibility into approval processes.
  • Comprehensive Tracking: Logging delegated approvals and automatic approvals offers a complete audit trail for all approval scenarios.
Jan 29, 2025
Enhancement
Control & governance

Automatic return of pending expense request

This enhancement ensures that expense requests remain accurate and aligned with approval workflows by automatically returning them to employees for confirmation and re-approval when key fields are modified.

What's new?

Pending expense requests are now automatically returned to employees if an admin splits the expense during approval, ensuring the request is routed to the correct approver.

Key benefits:

  • Accurate Approvals: Ensures expenses are reviewed by the correct approver when key workflow fields are modified.
  • Improved Workflow Integrity: Automatically returns requests for re-approval, reducing errors and maintaining compliance.
  • Streamlined Updates: Employees are prompted to confirm changes, ensuring clarity and accountability in the approval process.
Jan 27, 2025
Enhancement
Expense management

🇺🇸 IRS Conditional Document Requirement

🇺🇸 US-based companies can now align with the IRS $75 rule!

You can set a threshold for submitting documentary evidence based on the expense total, aligning with the IRS rule:
"Documentary evidence isn't needed if your expense, other than lodging, is less than $75.

Key benefits:

  • Simplified compliance: Automatically apply the IRS rule to streamline document collection.
  • Flexibility for US businesses: Match your expense processes with industry standards.
  • Faster month-end closing: With this setting, US companies can close the month quicker than before, as no documents will be required to submit the expense.
  • Seamless setup: Define the expense threshold directly in Payhawk, ensuring smooth implementation for your team.
Jan 14, 2025
Enhancement
Integrations
Quickbooks

QuickBooks ‘customers/projects’ now synchronized with Payhawk

You can now use ‘customers/projects’ to categorize expenses in your Payhawk-application

Key Benefits

  • Automatic Categorization Synchronize your ‘customers/projects’ for automated categorization of incurred expenses
  • Streamlined creation of InvoicesMark expenses as ‘billable’ to create invoices out of the bill with minimum effort
Dec 3, 2024
Enhancement
Expense management

Comment enhancements in mobile app

Enhance your app experience by adding comments!

Key benefits:

  • Comments on expenses: You can now add comments directly to expenses in the mobile app, improving collaboration and tracking.
  • Hyperlink support: Easily add and click on hyperlinks within comments for more detailed context and links to related resources.
  • Avatar sync: Avatars now sync across the app, with an option for to upload and update them, making your user profile more personalised.
  • Comments on card and fund requests: Add comments on card and fund requests, enhancing communication and transparency during the approval process.
Dec 3, 2024
New feature
Expense management

eInvoicing compliance with XRechnung and ZUGFeRD

Seamlessly transition to eInvoicing with the German eInvoicing mandates, including XRechnung and ZUGFeRD formats, starting in January 2025. Be prepared for the upcoming regulations in France and Spain!

Key benefits:

  • Receive eInvoices like regular payment documents: Easily receive eInvoices by forwarding, uploading, or drag-and-drop in required formats such as XML.
  • Process eInvoices with 100% accuracy: eInvoices are processed instantly, extracting all data with full accuracy. A PDF preview is generated for easy processing, and custom fields enable further categorisation, ensuring efficient workflows.
  • Sync to ERP with just a few clicks: Automate payment and bookkeeping processes with our seamless accounts payable integration. Use procure-to-pay functions like 3-way matching with POs, approval routing, and syncing to ERP with just a few clicks.
Dec 3, 2024
Enhancement
Integrations
Microsoft Dynamics 365 Finance

Refreshed Microsoft Dynamics Integration

Get started today with the refreshed Microsoft Dynamics integration!

Key benefits:

  • Seamless integration: Enjoy a smoother and more efficient integration with Microsoft Dynamics Finance.
  • Default dimension settings: Now support default dimension settings for better financial tracking and reporting.
  • Enhanced expense reporting: Benefit from improved expense reports that align with your Dynamics Finance setup for easier data management.
Dec 3, 2024
Enhancement
Expense management

Introducing Smart Item Split!

Save time and improve accuracy with intelligent line item split for seamless expense management!

Key benefits:

  • Automatic line item split: Streamline the process by automatically reading and applying multiple tax rates to line items with just one click.
  • Quick adjustments: Effortlessly edit, import from previous issues and split amounts for complex invoices with ease.
  • Save time and reduce errors: Improve accuracy and save time by eliminating manual input, reducing errors in expense management.

PS: You can now view and split items directly in the mobile app - simplifying workflows, reducing complexity and improving efficiency.

Dec 3, 2024
Enhancement
Multi-entity management
Expense management

Group budgets for multi-entity businesses

With Group Budgets, you can now take control of your group's budgets in real time!

Key benefits:

  • Enhanced visibility: View all entities' budgets directly from MEM dashboard, offering ultimate control and oversight.
  • Customisable dimensions: Select entities as a budget dimension to handle more complex budgeting scenarios and hierarchies.
Dec 3, 2024
Enhancement
Expense management
Platform
NetSuite

Date and free text custom fields sync with NetSuite

Ensure increased data-consistency and deeper insights into each expense with our latest update. Now you can syncronize NetSuite date and free text custom fields while also including custom transaction body fields.

Key Benefits

  • Decreased manual input with categorization through transaction body fields in Payhawk
  • Automated enrichment of every expense with additional insights, such as date and context for the entry.
  • Association to specific times and occurences for expenses such as business trips, projects and delivery dates.
  • Amplified book-keeping process with less time spent in NetSuite.

Experience greater insights into your spending with this enhancement, helping you to get better understanding and reporting on your expenses in a shorter time.

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See our latest product release editions

Starting in winter 2023, we publish a rundown of everything we’ve built in Editions.
Smarter cards, simpler expenses

Sharper control with improved card workflows, clearer transaction logs, and smarter expense automation — all designed to streamline how you manage spend.

Spring’25 Edition: AI Office of the CFO

Drastically increase productivity while maintaining complete control with powerful AI agents, budget tracking, procure-to-pay improvements, a brand new beta testing program, and more!

Release Notes - Payhawk Spend Management Platform - Page 3