Expensify Card and Sage Intacct Best Practices
coltonshaw06
Expensify Customer Posts: 27 Expensify Admirer
Good Evening, i'm looking to see if anyone can help with some best practices for using the expensify cards with Sage Intacct. We are seeing a few hiccups and was wondering if anyone worked through a few of these.
The first issue we see is that expensify cards charge our account daily, but reports don't charge daily so it makes it difficult to match them on the back end when making payments.
The first issue we see is that expensify cards charge our account daily, but reports don't charge daily so it makes it difficult to match them on the back end when making payments.
Answers
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@coltonshaw06
We are working to provide a solid solution for continuous reconciliation with the Expensify Card and your connected account system (QuickBooks Online, NetSuite, Xero, and Intacct). We've gotten started with QBO which works great and fulfills accounting requirements.
In the meantime, here are the recommended steps -- Expenses will be exported from Expensify to the accounting system as they are approved
- For the bank statement, you'll either have your bank connected to your accounting system or you can upload the statement manually
- At the end of the month, you can apply the sum total of all approved expenses against the bank statement, then accrue for the rest based on the reconciliation dashboard (Unapproved expenses)
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We now have automatic reconciliation available for anyone using the Expensify Card with Sage Intacct! Check out this article for more information.
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How far down the pipeline are Best Practices for Xero? And what would the current accounting workflow look like for the Expensify Credit Cards once they have synced into the books in Xero?
