Credit Card Accrual -How can I pull the accrued expenses the following month without pulling actual?

NM_Sunshine_2019

I read article Deep Dive: Preparing accrual - how to Reconcile Company Card Expenses. I want to know after you post the accrual part for the month, when you post the actual in the following month how do you know what post?

For example, lets say you have $100,000 in credit card total for June. $80,000 you can post as actual and you accrue $20,000. Over the next few weeks employees finish their Expensify reports. Now it is July and you want to pull just the $20,000 worth of expenses to post to actual in July. How can I differentiate the $20,000 from the $80,000 already posted?

Conor Pendergrast

@NM_Sunshine_2019 Hey! It looks like you have a chat with Concierge on the same topic, which gets into quite a bit of detail! I'll leave the conversation to happen over there!

DamiAdeniyi18_

Hi, can you please post the detail of the reply? This would be really helpful as I have the same question.

Nicole Trepanier

Hi @DamiAdeniyi18_ ! This was the reply from this conversation in response to this question. I hope it helps!

In this example, the $20,000 in expenses will likely have not been approved yet, so you will simply need to approve them as they are submitted through the approval process. Once final approved, they will be exported to your accounting platform.

If you were to filter the Reconciliation Dashboard to the same date filters as you had when creating the accrual entry, the Unapproved Total should still equal out to $20,000. From there, you can click the Unapproved Total to locate the expenses and reports that make up this total.

DamiAdeniyi18_

Thanks Nicole. When using Sage Intacct, transactions need to be picked up on the same date that they were incurred. I am aware that because Sage Intacct is a direct integration, the dates cannot be manipulated. What would you say would be the best way to handle this in the Accounting system? I ask because staff usually do not submit their reports on time and so the reports are usually exported into Intacct months later.

Nicole Trepanier

With credit card expenses in Intacct, the date used is always the transaction date so if you need these reported daily, you would setup Expensify to auto-submit and export reports on a daily basis. This will keep your Intacct account up to date.