Automatic Statement Reporting (available on a Corporate policy) is a Domain Control feature which auto-creates a report with expenses for a given credit card for a given statement period, and will collect all expenses from that card only for that period. This automates the need for your employees (or you) to place company card expenses onto a report; Expensify does it for you! All your employees need to do is hit submit on the report once they've finished coding expenses. The feature also sends employees reminder emails at the end of the month (2 and 4 days after the closing date) when their reports are due eliminating the back-and-forth of email when you are trying to close for the month.
In order to set up statement reporting, an admin will need to do the following:
- Have Domain Control enabled for your company.
- Have company cards assigned in Domain Control. This will need to be done by a Domain Admin, which will be the person who set up the domain and any domain admins that person has assigned.
ProTip: Set up MCC auto-categorization for your policies that have company cards to help employees with coding expenses.
On the Admin page, go to Domain Control and then Company Cards. You will see a tab called Statement Reporting to the right. The feature will be disabled by default, but enabling this feature will reveal the settings menu.
Name of the report
Since we auto-create the report title each month, we need to know what to name it! Naming the report is pretty configurable. You have the option of using your own naming convention or the following macros below (by clicking the blue formula link):
- The redacted card number
- The name of the card's bank
- The email address of the report submitter
- The total amount of the report
- The month the report was created (recommended when end date is at the beginning of the month)
- The month the statement/accounting period ends (recommended when end date is at the end of the month)
- You can also add text to the title (ex: HSBC) or use any other formula from our Custom Formula page
Statement/Accounting Period End Day
This varies from company-to-company depending on your accounting process. Some companies will want this monthly period to be the beginning of the month to the end of the month, others will want the 20th to the 19th, etc. This is completely configurable and totally up to you. Keep in mind that it takes several days for a transaction to post to your Expensify account.
Using the configuration examples we've provided so far, a report that is named with the User's email/full name if added and the statement start date and end date, would have this title formula:
And would look like this:
You can select the policy that the statement report will be automatically created on by default. If a preferred policy is not chosen, or it is set to (none), the default policy used on automatic statement reports will fall to the employee's active policy. If a preferred policy is selected, and the card holder is not a member of the preferred policy, the cardholder will be automatically invited to the preferred policy when the first automatic statement report is generated.
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