Expensify.org/hunger SNAP campaign status (updated April 3, 2020) 


The number of families signing up for reimbursement has vastly outnumbered the limited funds available. Though we’re unable to provide a specific timeline on when your report will be reimbursed, we’re doing our best to drive donations and keep our fund moving forward. Rest assured, we’ll review every report that’s submitted per our instructions. 


Thanks for your patience! 

Real Time Credit Card Reconciliations in NetSuite

MaryBBTMaryBBT Expensify Customer Posts: 13 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.

2 votes

Gathering use cases · Last Updated

Comments

  • Nicole TrepanierNicole Trepanier Expensify Success Coach - Admin Posts: 797 Expensify Team

    Hi @MaryBBT! Have you considered using Expense Reports as your export method for non-reimbursable transactions? While these are applied to the employee record, each non-reimbursable expense is tied directly to the credit card type account.

  • MaryBBTMaryBBT Expensify Customer Posts: 13 Expensify Newcomer
    edited August 2019

    Will the credit card vendor be set as the payee if I use the Expense Reports method?

  • Nicole TrepanierNicole Trepanier Expensify Success Coach - Admin Posts: 797 Expensify Team

    @MaryBBT While the Expense report will be on the employee record. Non-reimbursable credit card transactions will be applied directly to the Credit Card account in NetSuite and not hit A/P so there is no vendor required. Payments would be applied directly to the Credit Card GL account.

  • MaryBBTMaryBBT Expensify Customer Posts: 13 Expensify Newcomer
    edited August 2019

    @Nicole Trepanier Thank you so much!!!! I think this might work. It totally makes sense in theory!!! :) I'm working with concierge to figure out an error message on the netsuite export:

    "A credit card account has not been selected for corporate card expenses in Accounting Preferences. Your Expense Report cannot be saved, contact an administrator."

    I'm not sure if this is due to creating a new account and assigning it after the transaction has occurred. (I've already synched and updated to all cards). If so I have to wait another month to be able to test this.

    btw- when this works 🤞if there is not already an Expensify step by step instructional doc on how to do this in NetSuite I think it would totally be worth it for others in the future so others can enjoy expenses in real time!

  • MaryBBTMaryBBT Expensify Customer Posts: 13 Expensify Newcomer
    edited September 2019

    Looks like the answer I was looking for was right in this document:

    You still need more information though to set it up correctly. You need to go to Setup- Accounting- Accounting Preferences-Time & Expenses-select the default account for corporate card expenses.


    Now if I can only figure out how to default all expense reports synching into NetSuite as approved, so that all the reports can go directly to the default account for corporate card expenses for reconciliation purposes.


    It would be really nice to have more than 1 default account (for each type of credit card, but I won't push my luck).


    Many thanks!

  • Nicole TrepanierNicole Trepanier Expensify Success Coach - Admin Posts: 797 Expensify Team

    Hi @MaryBBT! I'm glad you found the answer. If you add the default corporate card field to the Employee entry form in NetSuite you'll be able to set a default card for each employee.

    You can set the default export approval level on the Advanced tab of your configuration in your policy. Let me know if you are having any trouble getting them to export as approved. Different workflows within NetSuite can affect our ability to use this feature.

  • MaryBBTMaryBBT Expensify Customer Posts: 13 Expensify Newcomer

    Hi @Nicole Trepanier

    Everything is ready to be exported into NetSuite. We did a few trial runs and found that we cannot make a change to the account because it is linked to a category once it is exported into NetSuite. I've tried to add the account to the expense reports in NetSuite, but it still defaults to the category. Do you have any reading material on how we can remove the mandatory requirement for categories in NetSuite? or are we stuck loading the whole chart of accounts into Expensify?

  • MaryBBTMaryBBT Expensify Customer Posts: 13 Expensify Newcomer

    After looking into this more I think we will have to load the whole chart of accounts into Expensify, but select which accounts to leave as visible for the employees. Many thanks!

  • Sheena TrepanierSheena Trepanier Expensify Success Coach - Admin Posts: 2,155 Expensify Team

    Hi @MaryBBT, thanks for circling back. You've got it! Importing the accounts and then disabling the ones you don't want employees to use in Expensify is the ideal practice here.

    Let us know if you run into other questions!

Sign In or Register to comment.