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Community Manager
Community Manager

What is the best way to manage credit card late fees?

Import the Merchant Category (MC) Code for late fees on your credit card programs. Require these to be submitted as a personal charge, reinforcing to your users that they are responsible for late fees. You can also default to personal charge for specific expense types, like credit card fees (or fraudulent transactions).

Best,
Ashley Bragg
SAP Concur - Community Manager
1 Reply
Statti1978
Occasional Member - Level 2

Re: What is the best way to manage credit card late fees?

Wondering how other companies handle late fees versus personal expenses.  While a late fee is personal, we also have cardholders who use their corporate card for personal purchases (against policy).  We would like to differenciate between late fees as personal and personal expeneses for reporting purposes. Does anyone use a seperate expense type for personal expenses with sub categories (late fee and all other).  or any suggestions.  Was also thinking of a category to submit debit/credits which create a zero expense report which might help expense users resolve these issues.