Australia - Payment times reporting

[abarnes]

Hello All

I am looking for suggestions on how to handle payment times reporting for Concur expense. We have company paid credit cards and the ATO have suggested 2 approaches to include credit cards expenses to small businesses, either report on everything over $100 which is very onerous , or update your policy and ask all card holders to stop purchasing goods from vendors where we have a credit arrangements.

My question is how would a card holder know if our company has a credit arrangement with a vendor ? Any help would be greatly appreciated

Alison

[benCoVantage]

Yes Alison, this is a complicated matter, you don’t want your users to have to assess each purchase and enter a bunch of information about each $5 coffee they buy.  Fortunately, Covantage has worked with several clients on this issue. We have found that by assessing each type of spend and then modifying the impacted categories we can dramatically reduce the burden on the user while collecting the required information.   Also a custom report can be built to help in this matter.  Please reach out if you need more information from myself or Andrew Chapman.

[alexben]

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@abarneslocksmith wrote:

Hello All

I am looking for suggestions on how to handle payment times reporting for Concur expense. We have company paid credit cards and the ATO have suggested 2 approaches to include credit cards expenses to small businesses, either report on everything over $100 which is very onerous , or update your policy and ask all card holders to stop purchasing goods from vendors where we have a credit arrangements.

My question is how would a card holder know if our company has a credit arrangement with a vendor ? Any help would be greatly appreciated

Alison

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To manage payment times reporting for Concur expenses, you could implement the following:

1. Centralize Vendor Information: Create a centralized list of vendors with whom the company has credit arrangements. Share this list with all cardholders to ensure they are aware of which vendors are included.

2. Update Expense Policy: Revise your expense policy to include guidelines on vendor credit arrangements. Communicate these updates clearly to cardholders.

3. Vendor System Integration: If possible, integrate your Concur system with your vendor management system to flag transactions with credit vendors automatically.

These steps will help cardholders identify vendors with credit arrangements and streamline the reporting process.