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Why hasn't the Mileage Rate been updated from 62.5 cents/mile to the new IRS requirements of 65.5 cents/mile? January is almost over and it still reflects 2022 Rates.
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@dkcoates as far as I know, unless something has changed, the system does not automatically update mileage rates.
I'm sure you might be wondering why...because not all companies use the IRS Rate. If it automatically updated, there would be a lot of users submitting the wrong reimbursement amounts, which would cause a lot of issues for Finance departments.
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Kevin is correct, the rates don't automatically update. Your company Concur Admin should be able to update those rates in Expense Admin - Car Configuration. The notice by the IRS was late this year, December 29 was much later than usual for their decision!
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That is correct. The administrator must update the rates in Expense Admin. I learned the hard way last year, since I was new to this role. I had to adjusting journal entry for those who were paid incorrectly, manually.