Expensify is the perfect tool to manage and reconcile your clients' company cards. 

Important notes before you get started with company cards

  • Company card functionality is only available in Expensify as part of the Control plan. 
  • You must be a Domain Admin (which is different from a Policy Admin) to access the reconciliation dashboard and company card module.
  • A user must be invited to a policy before a card is assigned to them in Domain Control.
  • A client's domain must be validated to activate the company card module.

Import and assign company cards

You'll import and assign all company cards in the Domain Control section of Expensify. Importing cards in Account Settings is incorrect and only used for personal cards (reimbursable expenses).

For those clients with corporate or commercial card accounts, you can access a daily transaction feed of expenses sent to Expensify from Visa, Mastercard, and American Express (note: If a given card program is not eligible for a commercial card feed, then you may be able to use one of our direct bank connections)

Once you've imported and assigned client cards, Expensify will automatically populate expenses directly into the relevant cardholder’s Expensify account. The cardholder will then add receipts and code expenses before submitting reports for approval and export (note: SmartScanned receipts will automatically merge with imported card expenses). 

Manage and reconcile company cards

In Domain Control, you'll be able to confirm statement amounts, see which users have outstanding expenses, and ensure all expenses are processed to your accounting system in a timely manner using the built-in Reconciliation Dashboard. This includes a realtime view of all cardholder transactions across submitted and unsubmitted expense reports. 

To further expedite the reconciliation process, you'll also be able to "take control" of expense reports to edit cardholder expenses, then submit and approve reports on the cardholder's behalf.

Prepare accrual

If there are still unapproved expenses around month-end close, you can create an accrual entry by running a report in the Reconciliation Dashboard and using the three values that appear:

  1. Imported Total - the total dollar amount brought in from the bank feeds based on the dates selected in the report parameters. 
  2. Unapproved Total - the total dollar amount yet to be reconciled (in other words, an overview of all expenses that have yet to be submitted and/or are still going through the approval process). 
  3. Approved Total - the total dollar amount of approved expenses.

Training video - Company card management & reconciliation


P.S.
Sign up here for our live company card administration and reconciliation webinar to see the features in action!

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