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Real Time Credit Card Reconciliations in NetSuite

MaryBBTMaryBBT Expensify Customer Posts: 18 Expensify Newcomer

This could be done currently in the system if there was a way to allow exporting Amex Transactions into NetSuite into a separate AP Account at the vendor level.

I recommend adding an additional option to configure each credit card to export into it's a custom GL from the policy connections configuration section.

You can currently do this if you configure non-reimbursable expenses to be exported as a Journal Entry instead of a Vendor Bill; however if you do this it exports into Expensify with the employee being the vendor. This will not work when you come to apply payment to the credit card company. It will show in Netsuite that the expense is outstanding at the employee as the payee.

The goal is to get the credit card transactions into NetSuite at the report level as a vendor bill marking the credit card company as the vendor in order to apply payment to the credit card company.

The issue with the conventional way of doing this now as an upload of all transactions at month end is this prevents department heads from reviewing their forecasts in real time. It also delays the close process by at least 2 days.

The link above shows in theory how it could be done, but we're limited by the details above in actually being able to execute this.

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