Credit Card Reconcilation

[Former Member]

Hi Experts

I have a customer who issues company credit cards to their Sales Team Staff whereby they can use.

Is it possible to reconcile credit card transactions in ByDesign.

[Former Member · Accepted solution]

Antonio,

We've seen two variants on how this would be handled.

The first is using Expense Reports with a Receipt Type of "...Paid by Company", which allows end-users to enter the costs incurred, which can be later reconciled against the credit card payments.

However, realistically, we haven't seen sales staff actually willing to do this long term. Most customers say that they want this to happen, but usually within a few weeks we switch to...

The second way, which is to set up a Supplier for the Credit Card Issuer, then key in or import a Supplier Invoice that matches the Credit Card statement. You can enter in the cost distribution details to whatever level of detail you need.

[Former Member · Accepted solution]

Thank you Dan

[Former Member · Accepted solution]

The trouble with the second way is that you lose the analysis in Travel & Expenses, no?

[Former Member · Accepted solution]

Jeremy,

You can still use the "Spend By Account Assignment" reports to see what the charges were actually for. In addition to this, you can enter in the manual descriptions from the statement onto the Supplier Invoice to provide a more clear idea of where the charge was from.

[Former Member · Accepted solution]

Dan

I get that, but that data is surely outside of your travel and expenses data objects and, like most I'd guess, most credit card spend is on travel.  So you lost the analysis within TRavel & Expenses... ?

[Former Member · Accepted solution]

Jeremy,

You'd perform the same analysis - but instead of within the Travel and Expenses Work Center, you'd perform it in the Supplier Invoicing Work Center. You might lose some detail, but whether this is an issue depends on your business requirements.

If it were a critical requirement to do extensive reporting on the actual travel and expense details, then yes, you'd have to make use of the Expense Reports with "...Paid By Company" receipt type and require that the expenses get entered through Travel and Expense, whether by the sales staff themselves, clerical workers, or some kind of external system integration.