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Reporting / Accounting Dates

C_Bradford_1
C_Bradford_1 Approved! Accountant Posts: 18 Expensify Newcomer

Hi,

I have posted this idea in a comments section so thought I would post it separately for people to vote on so apologies if this is seen a duplicate idea.

We use Xero as an accounting software and export our Expensify reports into this.

The accounting date default for Xero at present appears to be the date of the last expense on a report. For instance, it receipts dated from 29th July to 2nd August 2019 were claimed on a report, the accounting date of the whole report would be 2nd August 2019.

The trouble with the above example is that July's receipts from this claim would then go into August's accounts, which means the month-end figures may not look accurate as a consequence. This is therefore not ideal, and you could have a situation in the above example whereby a report with say 30 July receipts and 2 August receipts gets exported as an August accounting date, when the majority of the expenses were actually incurred in July.

At present, there does not appear to be a way around this other than telling employees / claimants to separate out their claims, and only claim July's receipts on one claim, August's on one claim, etc.? Please correct me if I am wrong.

This is why I would suggest a feature whereby we can have accounting dates on a receipt by receipt basis, rather than a whole report. The ideal way from my perspective would be two have the option of entering two dates on a receipt as follows:

  1. The receipt date - literally the date of the receipt / expense.
  2. An "accounting date", whereby an admin can enter a date on a receipt (or an entire claim as appropriate) that will feed through into accounting software before the claim is approved.

I welcome any comments from others on this matter.

1 votes

Gathering use cases · Last Updated

Comments

  • Stephanie Elliot
    Stephanie Elliot Expensify Team Posts: 70 Expensify Team

    Thanks for sharing this idea! I have a suspicion that this issue may be linked to how you are exporting reports Xero.

    Heads up, how expenses are exported to Xero will be based on whether they are reimbursable or non-reimbursable. Non-reimbursable expenses will export to Xero as individual bank transactions which reflect the actual date of the expense - so you should be good to go as far as non-reimbursable expenses go! 😎

    Reimbursable expenses are a bit different. All of the reimbursable expenses on a report will export to Xero as a single Purchase Bill awaiting payment. You can choose for that bill to be dated either the date of the last expense on the report, the date the report was submitted, or the date the report was exported to Xero. Thus using your example, the Purchase Bill should reflect the August date since that's the period in which that Purchase Bill would be paid. Does that make sense, or am I misunderstanding something about your workflow?

    In case it's helpful, you can see a breakdown of the options when exporting to Xero here.

  • C_Bradford_1
    C_Bradford_1 Approved! Accountant Posts: 18 Expensify Newcomer

    Hi @Steph - thanks for your comments.

    I am aware of the reimbursable v non-reimbursable receipts for Xero as I use this for my clients because some of them have corporate credit cards.

    At present, when reimbursable is selected, the one bill is created for us in Xero from the Expensify report with the bill dated with the date of the last expense on the report.

    As mentioned previously, the issue with this is that a report with say 30 July receipts and two August receipts would simply export to an August date when the majority of the expenses were actually incurred in July. This then can make the accounts look a bit odd.

    The situation would be similar if selecting the date the report was submitted or exported to Xero, as the one date would be used.

    It would therefore be helpful if we could manually select accounting dates for reports, and perhaps the report could be exported so that one reimbursable receipt = one purchase bill in Xero, rather than having one overall purchase bill with one date, making it easier for the receipts to go into the correct accounting month.

    Many thanks.

  • Nicole Trepanier
    Nicole Trepanier Expensify Team Posts: 500 Expensify Team

    @C_Bradford_1 Thanks for clarifying that! Having a clear use case is really helpful when considering changes.

  • Shirlin
    Shirlin Expensify Customer Posts: 3

    Hi Expensify team, would you provide the answer or solution to C_Bradford_1's question. We have the same issue and would like to know how to fix this.

  • Rachael Hopkins
    Rachael Hopkins Expensify Success Coach - Admin Posts: 845 Expensify Team

    Hi @Shirlin are you able to tell me specifically what your question is? There is a lot of discussion above. 😀

    NB: This particular post is an 'Idea', meaning it is a request for functionality which does not exist.

  • Shirlin
    Shirlin Expensify Customer Posts: 3

    Same issue as previously highlighted by C_Bradford_1

    The accounting date default for our company at present appears to be the date of the last expense on a report. For instance, receipts dated from October 1, 2019 to December 31, 2019 were claimed on a report, the accounting date of the whole report is December 31, 2019.

    The trouble with the above example is that October, November and December's receipts from this claim would then go into December 31, 2019's accounts, which means the month-end figures may not be accurate as a consequence.

    How do you fix this ? How to you categorize October, November and December expenses into each individual report based on the expense date so that the accounting date is accurate.

  • C_Bradford_1
    C_Bradford_1 Approved! Accountant Posts: 18 Expensify Newcomer

    @Shirlin - the only solution I have managed to come up with is ask claimants to separate out their expenses into separate months.

    For example, all of January's receipts should go on one submitted report, February another, etc.

    Whilst this is not ideal, I believe there to not be a solution to this on Expensify's side though I will welcome their comments on this matter.

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