exc Help: Corporate Credit Cards

Corporate Card setup

Expensify can be setup to automatically import Corporate Credit Card transactions and match them to scanned Expenses. It can be a fraught task to get the connection setup, mainly dependant on the cooperation of your bank…

However, the Connector can be used to process Corporate Card transactions without integrating Expensify with your Corporate Card. Basically, Expenses tagged as ‘Reimbursable’ are treated as ‘Out-of-pocket’ expenses whereas when not ticked as ‘Reimbursable’ they are treated as ‘Corporate Card’ expenses.

Out-of-pocket vs. Corporate Card expenses in Accounting Seed

Out-of-pocket Expenses are added as a single ‘Payables’ for the Expensify Report, with the user (your employee) as the ‘vendor’ Contact. You can then raise a Cash Disbursement against the Payable when you pay your employee.

The Contact is a standard Salesforce Contact linked to a Salesforce Account, which needs to be setup as the ‘User Employee Account’ field in the Policy Mapping.

Corporate Card expenses are also added a ‘Payable’ but the ‘Vendor’ is the Credit Card company (eg AmEx). But at the same time the Payable is ‘Paid’ by raising a Cash Disbursement, and an Allocation, posting to a ‘Credit Card’ GL Account.

If an Expense Report contains both ‘Out-of-pocket’ and ‘Corporate Card’ expenses two Payables are created for each Expensify Report.

How are Expenses classified as ‘Out-of-pocket’ or ‘Corporate Card’

In the Policy Mapping you can setup the ‘Corporate Card Handling’. When Expenses are downloaded to Salesforce, the field ‘Bank’ usually contains the name of the Corporate Card provider (eg: AmEx) and the ‘Card Id’ is populated with an Id which identifies the card used. However, out-of-pocket expenses also populate the ‘Card Id’ field. So we have ‘Bank’, ‘Card Id’ and ‘Reimbursable’ that can be used to determine if an Expense is ‘Out-of-pocket’ or ‘Corporate Card’.

To work with this complexity we have the following setting for ‘Corporate Card Handling’

  • Use Reimbursable
    The Bank and Card Id fields are ignored, using only the Reimbursable field.
  • Use Bank and Card Id
    If the ‘Bank’ field is populated in the Expense, use the ‘CardID’ in the Expense with the matching CorporateCardId mapping. Otherwise use the Reimbursable tick box.
  • Use Card Id
    Create a CorporateCardId Mapping whether or not the ‘Bank’ field is populated. You will need to configure the CorporateCardId Mapping to ‘out-of-0pocket’ expense or setup the Corporate Card details.
  • Use Bank and Card Id – blank Bank is OOP
    This works the same as ‘Use Card Id’ except the CorporateCardId mapping will default to out-of-pocket expenses if the ‘Bank’ field is blank.
Use Contact for Corporate Cards

Payables in Accounting Seed are setup with either a Salesforce Account as the ‘Vendor’ or a Salesforce Contact as the ‘Contact’. The standard way the Connector handled Corporate Card expenses is to create Payables linked to a Salesforce Account defined by ‘Corporate Card Vendor’ – that might be ‘AmEx’ or ‘Visa’. However you can also link the Payable to a Salesforce Contact in the same way Out-of-Pocket expenses are handled. This does mean you can easily analyse expenses by User.

To use the Salesforce Contact, just tick ‘Use Contact for Corporate Cards’ in the Policy mapping.

‘Default Corporate Card GL Account’ and ‘Default Corporate Card Vendor’

The main reason to use the CorporateCardId mappings (rather than simply the ‘Reimbursable’ tick box) is to enable handling of multiple Corporate Credit Cards providers. Perhaps you use AmEx as well as Visa.

In the Policy mapping there are two fields:

  • Default Corporate Card GL Account
  • Default Corporate Card Vendor

These can be used to define which GL Account to post the Credit Card liability, and which Vendor to use for the Payable. Then each CorporateCardId mapping has two similar fields

  • Corporate Card GL Account
  • Corporate Card Vendor

This allows you to override the defaults.

Mappings with Use Reimbursable

In some circumstances you may want a particular CorporateCardId mapping to use the ‘Reimbursable’ flag in the Expensify Expense. You can do this by ticking ‘Use Reimbursable’ in the Expensify Mapping record.

How Credit Card Expenses are handled in Accounting Seed

Credit Card expenses are added to Accounting Seed as Payables, but the Vendor is set to the ‘Default Corporate Card Vendor’ (see above). For example you may have an Account: ‘AmEx’ setup as a Vendor.

The Payable is automatically ‘Paid’ with the payment going to the ‘Corporate Card GL Account’ (see above). For example you may have a GL Account ‘1010-Credit Card’.

This is how the postings work for a $50 travel expense

Expensify Expense (Payable) DbCr
2000-Accounts Payable (BS) $50
6050-Travel Expenses$50
2000-Accounts Payable (BS)$50
1010-Credit Card $50

This gives you a balance of Zero for the Accounts Payable, and $50 in Travel Expenses and the Credit Card Account.

When you actually pay the Credit Card bill, you would enter a Journal to do the following:

Card PaymenDbCr
1010-Credit Card$50
1000-Cash (bank) $50

You can do this using Bank Direct Connect and you can also reconcile the Credit Card GL Account using Bank Reconciliation.

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