Reporting on Credit Card Transactions and Their Status

[mscott1271]

I understand how the credit card clearing works, but trying to make my life easier as it relates to the reconciliation.  Ideally looking for a report in Concur that will provide me all (unhidden) card transactions and the status they are in as of current point in time - not on report, on report not sent for payment (not submitted, not approved, in audit, etc), sent for payment.    In theory, I would accrue anything in all categories that haven't posted to the GL.  Any thoughts?  

[MSTEEN]

Does your company subscribe to Intelligence?  If so, check out the accrual report. The report will give you the line-by-line Approval Status of the card transactions. Also, the report catalog will show many other Intelligence reports you may find useful.  We have the concur email reminders.  Also, three times a week we send customized emails to the cardholders when the transactions are over 30 days.  One more reminder, once a month, to the cardholder and their manager with a list of transactions over 30 days.  The goal is to minimize the risk to the company by decreasing the amount to accrue at the end of the month.

On the other hand, paying your credit card before the due date will earn the company additional discounts/rebates.  

I hope this helps. 

What does your policy states regarding the card transactions aging?  Do you suspend cards when the transactions are too old? 

[mscott1271]

Thank you Maria - 

Yes, we do have Intelligence.  The accrual report works, but it doesn't have any classification of expenses.  IE - airfare, hotel, etc.   Do you book accruals with it?   Do you do your accruals topside?

We set our notification/reminder at 14 days and yes, we will use this reporting to suspend cards.   I've been on Concur before, but had a team that handled much of it.   Now with smaller company, I am kind of running the show and getting ready to move from pilot to full go live 6/1.  I'd be interested in how you book your accruals, if you don't mine.

Thanks.

Mike 

[MSTEEN]

Mike, 

Congrats on running the show!  It is a dream come true! 

We customized the accrual report to show the expense type, transaction date, amount, etc. 

I have little expertise in Accounting.  I know the accrual is posted on a clearing type of account.

I hope someone will be able to help in that respect.