Our company is in the pilot stages of Concur Expense. We use a CBCP (Company-Billed-Company-Paid) credit card, being the company's liability regardless of the expense incurred. Our cycle ends on the 26th (or following business day).
My concern is that expense reports are coming in but have transactions that are considered Post-Bill Activity for our bank statement, causing a reconciling difference. Does anybody know of a best practice for maintaining the correct credit card liability on your books?
Any help would be appreciated,
This may not work for your program, but we lock the reports to the billing cycle dates. Users can go in and reconcile, but they cannot submit the report until all the transactions for that cycle are within the one report. This means they can only submit one report a month so our corporate statement total always matches the reports total for that month.
Try looking at doing a monthly reconcilation for those expenses that have credit card transactions. For any outstanding credit card expenses that have not been processed on a Concur expense report (e.g. the credit card transaction is not assigned to a report), consider booking an accural.
We download the SAE file on the statement date and had an accrual file built to pick up all unacquitted/approved/audited transactions at the same date.
There's also a handy report in analysis>finance>credit card transactions which you can run by statement cycle dates. This should marry up to your credit card statement.