Covered in this article:
Overview
Prerequisites
Match company card statement to Expensify
Identify and process outstanding expenses
Prepare accrual

Related articles:
Set up a commercial card feed
Set up a direct bank connection
Report and submit expenses
Reconcile expenses
Card troubleshooting

Overview

Expensify is the perfect tool to manage your company cards. What you can do (compared to individual employees importing card(s) via their Settings):

  • Import and assign cards from a central location as a Domain Admin
  • Populate expenses directly to the cardholder’s Expensify account, where they will code and add receipts before the report is submitted for approval and export. SmartScanned receipts will automatically merge with imported card expenses.
  • Use the brilliant Reconciliation Dashboard at the end of the month to match your statement and accounting system to Expensify.

Reconcile expenses: Reconciling your company cards has never been easier. Expensify helps you to confirm your statement amount, see which employees have outstanding expenses and ensure all expenses are processed to your accounting system in a timely manner.

Prerequisites

Match your company card statement to Expensify

Confirm statement total

  1. When your statement arrives, go to Settings > Domain Control > [Domain Name] > Company Cards
  2. Enter your statement start and end dates and click Calculate
  3. Imported Total will display the total of all expenses imported to Expensify from your bank for the statement period 
  4. If there is a variance from your statement, you can import missing expenses by clicking the Update all cards button (for commercial card feeds) or clicking on the blue cog to Update individual cards (for other card feeds).  
  5. After updating, click the Run button to refresh the totals.

Confirm card totals

  1. If there is still a variance, sort the cards by clicking the heading for Card Name/Number, Assignee or Total and compare each card's total to the statement to determine which card(s) do and don't match.
  2. Click on the Total amount for a card to view the expenses which were imported.
  3. Confirm that all cards have been assigned to cardholders as this could be another reason that the Imported Total doesn't equal the statement.
  4. If there is still a variance after updating and re-calculating the totals, please contact help@expensify.com providing the details of the expenses that are showing on your statement but are missing in Expensify (cardholder email, date and amount) for us to investigate.

Identify outstanding expenses

View expenses

  • Click on the Unapproved Total heading to sort cards by those with outstanding expenses
  • Click the Unapproved amount for a card to view the expenses which are Unreported or on Open or Processing reports

Add unreported and/or deleted expenses to a report

  • Change the filters so that only Unreported and/or Deleted expense are showing
  • Select all expenses then click Add to a Report > Auto Report
  • If there is an Open report in the cardholder's account then the expense(s) will be added to that. If not, a new report will be created and the expenses added 

Process reports

  • As an admin you have the ability to code (categorize, tag, comment or add a receipt) un-submitted expenses, submit Open reports and approve Processing reports. Any changes made by the admin are tracked under Report History and Comments at the bottom of the report
  • You can also remind users to submit and approve reports via the Report History and Comments. An email notification will be sent to all users who have taken action on that report

Prepare accrual

If there are still unapproved expenses when you want to close your books for the month then you can use the Imported, Approved and Unapproved totals for the feed to create an accrual entry.

Match:

  • Imported Total to Statement amount
  • Approved Total to Company Card Liability account in your accounting system
  • Unapproved Total becomes the Accrual amount (provided the first two amounts are correct).

For a live overview of reporting, reconciling and managing company cards, register for our free Company Cards Administration webinar

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